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xanadu

05/19/07 11:58 AM

#246823 RE: nyjfan #246820

There are private placements, and he could create preferred shares, convert maybe 100k of the regular A/S into one preferred share selling at maybe $100 a pop. Maybe even put restrictions on selling on them. A time they must be held. Have to be some other incentive tied in, like a hefty annual dividend.

And simply ignore GGI. As I recall the original GGI contract was for 3 years but as we increased the size of the pot I don't recall if the ending date was moved forward.