Thursday, February 07, 2013 8:14:43 PM
FWIW, I personally do not feel YA will be buying back anything...for several reasons:
a) The agreement between Neom and YA clearly stipulates they cannot own more than 10%of the company. You may argue that they turned over 1.4B shares to Neom and therefore have room to repurchase, however, those were "warrants" which means they had the right to buy those shares...but they remain unbought :)
b) Isn't it more likely that YA turned those warrants back over to Neom based upon the judgement (which was handed down in mid October)? Not that this was necessarily the case, because it certainly may not have been.
c) We simply do not know :/
d) Time will tell...and the last thing iHubbers need to do is spend time diluting this company further when the shares have yet to bear fruit.
Best,
BC
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