sent James an Email
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Hey James,
Next time Subaye/MystarU needs $800,000; let me know. I can give them money on much better (less dilutionary) terms.
As far as I’m concerned, Wukuang just made $50M+ off that deal. All for less than $1M.
On September 25, 2009, MyStarU.com, Inc. (“MYST” or the “Company”) entered into a Stock Purchase Agreement (the “SPA”) with Wukuang IE Limited. Under the SPA, Wukuang IE Limited agreed to purchase from the Company 10,000,000 shares of the Company’s common stock and warrants to purchase 22,000,000 shares of the Company’s common stock with an exercise price of $.12 per share and expiring on September 24, 2014, for a total consideration of $800,000.
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or, we are experiencing what is a great deal spreading the peanut butter too thin into a 'ok' deal.
so. they are selling more shares at 8 cents, which is below the current price.
dilution looks like 10M+22M+2M+1M+2M+1M
38M more shares. on top of the 50M shares just issued to Wukuang at 6 cents
so in the last 3 months, we have gone from 186M to 236M to 274M shares outstanding. this is clearly a company that could give a shi$ less about shareholder value.. oh wait. they do care.. they are the shareholders. They get to sell to themselves below market price and screw the foreign owners.
oh, and he's doing the secretary, have a million shares.
then they reverse split 100:1 and there are 2.74M shares outstanding..
anyway. it's clear to me. there are insiders and outsiders.. the insiders are listed below. the insiders will maintain over 50% ownership of this company and will likely hose the rest of us by diluting at sub-market-price to increase their stake, and selling us the leftovers.
who cares how much money they're making.. if you own significantly lower percentages of it.. you got hosed. i'm going to sit on my pile of shares and expect that they are putting so much money down the pipe that it doesnt matter.
Wukuang IE, Lun, Yao, and the rest of the insiders, however
Name of Beneficial Owner
Amount of
Beneficial
Ownership
Percentage of
Class
Wukuang IE Limited
50,000,000 20.1 %
Taikang Capital Managements Corporation
20,000,000 8.0 %
Bon Air Group Ltd.
11,565,000 4.6 %
Gui Wen Cai
11,500,000 4.6 %
Trueboon Corporation
8,500,000 3.4 %
Bloomen Limited
8,000,000 3.2 %
Results Group International Corp., Limited
7,000,000 2.8 %
Free Productions Limited
7,000,000 2.8 %
Jin Li
1,100,000 0.4 %
Ruibo Lun
1,000,000 0.4 %
Total
125,665,000 50.3 %
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