Green,, the 30 mil is a loan and shares are warrant/reserve.. They offered Pope, or Pope insisted, (seems more likely to me, insisted) a 75 mil share purchase at .25.. so all in all GTEC should have gotten a total of some 48 million..
I don't think GTEC had plans for an extra 18 million.. But there yaw go.. champagne and caviar time, ha.. hope it doesn't got to their heads ha..
As i understand, everything is restricted, so the 75 mil should have a minimum of 6 months,, not to leave out this years rule no restrictions over 6 anymore..
Not sure about that bank debt,, sometimes it's better to just keep it and continue building credit in China.. Financing your business and using the money to continue growing is the typical model.. if a ballon renew it at current rates and go on down the road, useing the assit.
obviously with the current 30 mil loan,, up-listing with dept whether you like it or not.. ha..
Not to sure that whoever got that 10.5 mil in earnings, or whatever they called it, dividend, last July-Aug. , wont get another.. files showing it to continue.. Although it looked more like LJ pharma (GTEC) getting some of their eggs out of the basket before going public.. I.E. making sure a decent chunk was not being risked..
The high R & D has been fairly consistent with LJ Pharma's model. .. Not to leave out GTEC is supporting 6 different institutions..
You mean the A/S? if so, yeah a buffer is needed, as it stands LJ is riding a thin line. In the event shares from any loans are exchanged at this point, LJ would no longer be in control.. In fact if LJ (GTEC) has agreed to let Pope take possession of the November loaned shares, some 20 million.. if Pope was to take all of them now,, LJ pharma might not not hold over 51% any longer.. it looks like Pope has taken about 16 million of that at this point..
A/S has to go to 900 mil, create a buffer, and CEO or controlling interests must increase what they have, to allow Pope a full amount of 20million shares, and cancel last years 5 million dollar placement loan.. or the O/S will stay right where it is,, Those Nov., loan shares are at .25 BTW... what Pope bought then; 10 mil. was at .32...
So move rover, Pope's contract stops LJ from getting more loans over 1 million, and selling or transferring a large amount of stock..
CEO or controlling voters must own more stock, or the O/S is fixed for now..
Pope and it's investors current ownership: 101,050,000 CEO and vote: 216,647,951 total O/S 413,113,760
only about 10 million shares controling the vote right now.
LJ's voting power is just about in a stalemate. The only way Pope could be assured, IF GTEC defaulted on the current loan, pope could take possession of the 150 million shares in the 30 Mil. loan,, was to increase the A/S. It is why Pope requested the increase.. insurance; the A/S could handle a default.
Question for me is.. How does CEO and primary Vote, take possession of more shares? Not enough stock options allowed.. Not to leave out,, I'd still like to know why and how the 22 million share holder (now shown as voter) got that frickin 22 mil?? Where's the beef?, (cash)
Black queen to white king 3,,, check.. O/S stays right where it is, or we find out how CEO gets to own more shares..
Corn-fused-us Long-vestor ancient saying: Patience and small movements keep a steady course.
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