Replies to post #45 on Namliong SkyCosmos Inc (NLSC)

[Crusader]

Kreido intends to hold the shares until they can be distributed to its shareholders or otherwise transferred or sold.:


"Kreido is selling the specified assets for $2.8 million in cash, the assumption by Four Rivers of $260,000 of Kreido purchase orders and contracts, 1,200,000 Four Rivers shares of common stock and warrants to purchase up to 200,000 Four Rivers shares of common stock, exercisable at $8 per share for a period of five years. The shares issued in the transaction and underlying the warrants will be unregistered, but carry piggy back registration rights. The shares issued at closing will be subject to a 360 day lock up. Kreido intends to hold the shares until they can be distributed to its shareholders or otherwise transferred or sold."

There are about 52.72M Shares Outstanding and a Float 25.56M so we need to do the math.

[sceptic193]

Hi Hotdog1012,

I happen to know KRBF's founder, former CEO and inventor of all its technologies, including the STT(R) - Spinning-Tube-in-Tube - technology which was sold on to FRBE for $2.8 million last year. The founder and former CEO of KRBF was ousted after an acrimonious cram-down of his shares by KRBF's venture capital majority owners in 2003. By then, his invention, the STT technlogy was still in its early testing stage and still full of flaws. KRBF proceeded prematurely to try and make biodiesel with the STT reactors. They failed to sell any biodiesel at all but in March 2009 found FRBE to buy the STT assets. In the meantime, the inventor has moved on and significantly improved the outdated STT technology on his own, making 4 Rivers assets obsolete. Even claim 1 of the STT patent has been found invalid, he said. I am afraid, 4 Rivers has bought a dud and is hyping it now to improve the share price. There are countless cases of ignorant speculators buying hyped but worthless stock.

Skeptic193