That has cut the price in half ALREADY! Now he is going to the AMEX because no way would the other 3 touch him.
You can't hold 90% of the outstanding shares PERSONALLY and hope to get real investors to buy into it. The greed of this guy is amazing !
Usually in this situation you are looking for an outside funding source to fund the business. They will want to come in and get shares at 80% of IPO price. What financial institution will do that knowing that ONE person really controls everything ? His own financial company which they will draw up on paper.
So much backroom BS going on here. Interesting, but you can bet a big loser in time. They have fabricated this corp. out of thin air by dolling out shares, he owned, and a little cash to create what looks like a multi million dollar business...
it is a first, can't wait to see what happens....
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