there had to be some reason for MMAC to transfer enough equity to get burnham and the old ceo out. Even at that level there has to be a good reason...
I mean, our CEO could just hold onto the corp for future use, it would make some sense as to why there is no news or anything but it stands contrary to everything I've seen and heard.
I look it at it as a 'corporate settlement'. $250K isnt pocket change either; there are plenty of clean shells on the open market for $100K. I've researched a few lately.
The opportunity cost between the $2.5M and $250K deficit is found in the minor % ownership. Burnham couldve easily found another settlement offer in the $350-400K range if he wasnt convinced of the transaction potenital here. To forgive that much debt yet hold a minority ownership in the company is a clear indication of how big the reverse merger will be. I'm excited of whats in store.
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