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kidnova

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kidnova

Re: fidz post# 528

Thursday, 03/17/2011 8:21:10 AM

Thursday, March 17, 2011 8:21:10 AM

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Joe Noel buying 7.1M shares on the open market



No, that's not what happened. He converted loans that he had given the company into shares. YESD was going to have to pay those loans off one way or the other and since they have no cash converting them to equity was the result. Even if you want to say that he straight up bought the shares, they weren't purchased on the open market, they were sold to him in a private placement.
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