Buying the first shares is one thing and setting the price is another. One of the directors on the board bought the first shares at $4.25, but it was Spartan Securities who set the price at $4.00. Since Spartan Securities set the price, they had to value the company and they value it around a billion dollars. I actually spoke with Spartan Securities to find out when Coates was going to be listed. He told me at that time, it would be the next day.
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