Bo, hope things are well with you. I can see how you understood Georges statement that way. In fact, I think if you are being technical you read it right. What I expect GB meant is that if the float is 52billion and 2billion in certs the maximum amount of shares CMKX would be able to buy out of the float is 50billion leaving a 2billion float all held in cert form. That would explain in his next sentence how the 50billion x .0002 = $10mil comes in to play. That is the price CMKX would have had to bay to eliminate the 50billion non-cert shares from the float. Then a buyout or tender offer would be possible at whatever price seemed appropriate.
My thoughts to add onto this is that if Urban or CMKX have purchased all but the cert-held float (lets use the 2 billion share number for an example) and retired it, then purchased 2Billion or more NSS, then they could create a tender offer at whatever price they felt inclined to offer and the NS would be the only ones spending any money. CMKX pays out the tender on the 2bil certs and recieves the same tender amount on the 2bil+ naked shares they bought on open market and they come out even or in the green.
GLTY and thanks for all your posts.
-mex
News 
Market Data 
Discover 
AI
