rocky301
Stand corrected as usual, I know the deal was 1000 shares for 35% of OS as of date of conversion. Changed to 35,000 shares for 1% of OS as of date of conversion, per 1000. Forgot the per 1000 shares. The finnal certificate of designation was filed with the state of Delaware on July 30., 2004; showing the change. So the deal remained the same. $15 mill for 35%, not for 1% as I miss stated.
Still up holds my point. IMO The Caterham people are the under lying strength, in the over all business plan, and were a calulated move on managements part.
Management didn't use the blank check to continue to raise funds out side the company after and decided to RS to get funding from institutional investor in the future.