Replies to post #19094 on Nymet Holdings Inc. (fka NYMH)

[avdave]

Well, since it is known and documented that the stations were silent at the time the PHGI shareholders bought them, the revenue and cash flow were closer to zero, which further validates the fact that the $1.3 million purchase price paid by the shareholders was a BS value by any reasonable calcualtion. Thank you for validating something that was pretty widely accepted by all already. I'm glad you also understand a little better.

Regards.

[Folderfa]

juanly

The $1.3 million was NOT the fair market value of the radio stations

the seller of the radio stations was an entity controlled by John H. Beebe

the buyer of the radio stations was an entity controlled by John H. Beebe

This is what you would call a "related party" transaction.

The radio stations were previously valued at about $180,000 in previous transactions.