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Replies to post #8096 on Green Bridge Industries Inc (GRBG)

Replies to #8096 on Green Bridge Industries Inc (GRBG)

Gastrodamas

01/15/10 10:00 AM

#8097 RE: insanecurrencytrader #8096

I don't know, I don't know how accurate that info is. If it is true then some great news should come out and this will go to 3-5 cents.

Gastrodamas

01/15/10 10:00 AM

#8098 RE: insanecurrencytrader #8096

I don't know, I don't know how accurate that info is. If it is true then some great news should come out and this will go to 3-5 cents.

enzymesarecool

01/15/10 10:04 AM

#8100 RE: insanecurrencytrader #8096

Insane,

Bill converted his common to preferreds and then is selling those preferreds to Allie so Allie has effective control of the company.

Very simple...PR said buying control of a public company. You do that by owning 50.1% of the votes. Votes are with the preferreds so Bill converts his common to preferreds so he has more to sell to Allie - all planned a while ago when they first started talking. So Bill gets to partially cash out and the rest of you get NIL.

Face up to it, (and I may be wrong) but IMO it appears that this deal is structured so that another pinkie CEO gets to screw the common shareholders.