Re: "Maybe you can ask your source if any of the $$ from the 25 million new shares was used to pay Empire or other creditors off. It certainly would jive (sic) with management's stated intentions in their last PR."
History shows Empire (Jesup Lamont) sank millions of dollars into LTC. A planned LTC IPO spearheaded by Empire (wherein CSMG retained a significant stake) jibed with Empire's desire to profit by their investment. Whether the IPO is still on the table or how the 25 MM new shares are dedicated, who knows? Empire would seem to have every incentive, arguably, to attempt recovery of their investment by making LTC a success. That Empire engages at the bargaining table with an approved prospective LTC management team bolsters aforesaid argument and hardly connotes a tax write-off intention at this juncture. In that vein, it's no jive to emphasize "he who hath the gold maketh the rules."
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