that scenario , the reverse split and privatization .... emerging with Spanky ready new shares , how is there any way to do -----diligence anything ---- if that is acceptable >? Riddle me this Batman.
It is fairly common. Why do you think Perry has so much accrued debt? When it comes down to the BK they will have just enough to pay off the creditors and PL will take the property as "back pay".
And he can do it because he has the voting power to do anything he wants.
But IMO that is not the case at all. They will "sell" the Ruby "just as they were in the middle of the gold" to some other pinksheet company who will give NBRI a percentage of the "profits" and a bunch of shares for the property. They will pump their new property and allow PL to sell shares into the pump and the rest will just be a repeat of what is happening here.
Sad part is when it happens a bunch of NBRI longs will buy the new "JV partner" shares. They will just be buying PL shares again and with their inability to sell a loser they will lose to the same scam twice
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