I believe there is a long history of people with Merle in ELGL. They have held long and strong and in my opinion, he is committed to seeing these people succeed along with himself. He has issued himself personally an enormous amount of stock. He has already diluted existing shareholders.
Things just always seem to take far longer than anticipated.
People has asked me privately, if you think Merle Ferguson could screw the ELGL shareholders in a BFNH deal?
I say there is no way.......how could you justify Billions of Dollars going into Thousands of Dollars? ELGL shareholders should do very well in BFNH, assuming a deal is completed. Merle Ferguson also owns both sides of the deal.
Let's review the situation:
1. The people associated with ELGL, would they do improper things with ELGL? Why would anyone jeopardize a lifetime of success and not represent the value of Element:
- John LaViolette - Sasha Shapiro - Steve Gagnon - Gary Lewis - Merle Ferguson
2. BFNH is a current reporting OTC Shell - Net value $500k. (that's a "K") It has no current operations and no assets, except the shell itself. The share price is arbitrary and possibly higher because of the potential ELGL deal.
3. ELGL has told shareholders they have Billions (that's a "B") of Dollars in Mining assets. A bond with face value $600 million and a website with suggested operations in many areas, sports, media, etc. The share price is manipulated because of trading status presently and lack of buying allowed in the United States.
I for one think us ELGL shareholders should get something like 10 BFNH shares for every 1 share of ELGL, but that likely will not happen.
(Old Post - follow the links and read it for yourself.....it is plain to see and plain for regulators to see......why would any jeopardize their credibility of the company to screw a few shareholders)
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