Well, GFRE got the debt off their balance and it boosted the shareholder equity by about .18 per share if you consider the 21 million share transaction for eliminating the 22.2 million previous debt owed on 12-31-08 to the CHFI subsidiary...
The GFRE 10Q does say that the 3 companies who recieved the shares assumed the debt owed to Shenzen HuaYin Guaranty...It doesn't actually say that it has been paid off yet...
So the amount of $7,801,325 owed to the CHFI subsidiary on 04-01-09 is still a question until the filing comes out...
But whoever took on the debt did so at $1 per share versus the .55 per share cost showing for CHFI holdings in GFRE shares...At least that seems to have a positive look to it...LJ
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