So, now, the new CEO (4th? 5th?) has put his own startup companies into this shell, essentially going public. Along with McWilliam's little tax prep company. That brought in $31,726 in the 1st quarter. Not enough unfortunately to pay salaries and office rent, etc, which came to $162,607.
Who doesn't think shareholders overpaid for this acquisition?
Aluf paid approximately US$250 thousand to acquire TPG, funded through a combination of seller financing and equity (approximately $200 thousand). Approximately 800 thousand shares were issued from Treasury, priced at $.25 per share.
What do you think, Taur? I'd really like your opinion.
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