Okay, once again I have to state the same thing, since it is not sinking in.
NOPE, ORRV will NOT receive 5.21% of the value of the emeralds. instead, ORRV has received 5.21% ownership in a company set up by Jay called JTR Enterprises. BIIIG difference. let me again show why.
If the Emeralds are worth $1,000 (Not a real number, I know! Just using this as a manageable and round number for illustrataion. It's minus a few zeros, but still - only an illustration) then saying ORRV will get $52.10, which is 5.21%, is wrong. Instead, that company (JTR) would have $1,000 in an asset, minus maybe $300 in expenses for the recoverery which have not been paid for yet, minus court costs and attorney fees, minus corporate expenses, minus working capital, etc. What is left over would be the net profit to the company. That might be $110 of the $1,000. ORRV would own 5.21% of THAT number, which is about $6. Instead of $52. See the difference? And when you drop $%2 to $6 and put it for the real number, it is still a huge drop. Let me show it a different way too.
Let's say you buy 5% of ORRV. You buy stock on the open market. They then get (ahem) $10 in cash. Do you get money? ANY money? Do you get 5% of that money since you own 5% of the company? No, of course not. UNless the company declares a dividend, you don't get "money". instead, you get a higher (theoretically) value on your stock, since the company has some money. the stock goes up. But the company would take that money they got and USE it to do further exploring. Shoot, in the case of ORRV, they woud use it to buy a BOAT, something considered important for a supposed treasure diving company. Or air tanks for the divers they don't have hired either. Or a side scanner (now we're getting into more sophisticated things. Let's just see if they can get a boat first!) But they would USE the money for ongoing expenses. true? Well ... JTR will do the SAME thing. Maybe with all the money, maybe with a portion of it, but I know they are not going to distribute ALL the money out. If they did, the company would no longer exist. Jay wants to continue to exist! Certain expenses, including a large attorney bill, need to be paid from any proceeds of selling any emeralds. So JTR would pay those expenses. What is left over after ALL expenses is the NET. Of the net, then would Jay give ORRV 5.21% of THAT number? Again, probably not, as they would USE that money, or a portion of it, to fund their OWN work. JTR also needs to buy things. To get organized if they want to continue to exist. As ALL corporations do. They get revenue and then they use that revenue to fund the existing businesss and expand to new business. It's how it is done.
So saying ORRV would get 5.21% of the GROSS? Not realistic in ANY way. Saying they would get 5.21% of the NET? Still not realistic. I still say that JTR keeps amost ALL the money and what is given ORRV will be low and "maybe" they distribute $1 (Of that hypothetical $1,000 they sold the emeralds for) to the owners of JTR stock, which include themselves and ORRV.
My opinion is that if things go well for Jay (Almost not a given) and to the best potential for Jay, I think ORRV gets less than .5% of the actual selling price. Because of the corporate structure I mentioned above. So if they sell for $1,000,000 (who knows. The appraiseals have said they are worthless, but then we hear they are worth a lot) then ORRV gets literally $5,000. Which is then promptly used to pay back salary owed to THEIR employees (meaning themselves) and ORRV ends with nothing left for business.
That's corporate structure reality for this specific find of emeralds.
AI
