Dann2010. Here is what you were referring to. This is from the 13D/A filed June 8,2010. It guarantees the foremans a 20 million market cap of GFME with in 3 years of June 8,2010 or the company pays them $1,000,000. Holtzman would not make that guarantee unless he was sure he could pass the 20 million market cap many times over. It equates to the share price being between $4-6 depending what figure was used for the O/S. Looks like a minimum of 500% from here. This was prior to us knowing what we know today with homeclick! :) The Foremans own approx 1.8 million shares. So that would be worth approx. 7.2 - 10.8 million to the Foremans!
Pinksheets.com GFME Filings 13D/A, June 8,2010, Page 5, 2nd Paragraph.
Pursuant to a Registration Rights Agreement entered into concurrently with the contribution and issuance of Membership Interests described herein, the Reporting Persons have been granted demand and piggyback registration rights, and have been granted the right to cause preferred stock of the Company with an aggregate liquidation preference of $1 million to be issued to them if a market capitalization target of $20 million for the Company is not achieved three years of the closing of the transactions described herein. The Registration Rights Agreement is Exhibit 10.3 to this Schedule 13D and is incorporated herein by reference.
