The Stock could have only been issued if it was RESTRICTED. Than it would have to be a paper certificate issued and not traded or tradable electronically for a period of 1 year from issuance. Then with the additional legal issues with trying to sell a restricted stock, not to mention a chilled restricted stock, it had absolutely no value at all. That is why the LOI's were hogwash. Neither deal was ever going to happen. If we would have known of a chilled status on FPFI or STKO as it was then, the playing field would have been fair to all. I am looking to see what the requirements are about reporting the status of DTC Chill publically. I cant find where STKO ever reported a chill and I cant find anything at the DTC that shows there ever was a chill in place. Something isnt right about that chill, just not sure what, but I have people looking into it to see what STKO/FPFI missed.
As a businessman, I dont know anyone that would be willing to give up a multi million dollar business for a stock which cant be traded. The deal would have to have been a cash transaction at that point and when Captain Quirk realized this he put out the PR about the rescinded LOI. Basically he got caught with his hand in the cookie jar.
Remember this little quip?
The Indian Hills deal was finished after the second conversation with Their founder and President. The water rights zoning was not an issue in the killing of that LOI which was effected by Indian Hills and not by Captain Quirk. Stay awake on this one folks. It will move quick when it does and that means in both directions.
Best of luck to all who play and remember, play the game with them not against them.
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