GFRE - War Chest had a total lock up until March then if you read the legal brief - it was limited to a percentage sell per month - War Chest wanted the cash for whatever reason - they lent $20m to GFRE and took stock a few years ago so not sure why they would do that if they knew something - but who knows.
There was an option deal to get the shares to HAP so that they could sell ASAP and have a good chance at beating the lock up - GFRE did a bad job of wording the contract and War Chest jumped on the opportunity - HAP paid War Chest via the crazy option and then they took the risk of doing the selling and the court fight - it has been said that HAP got the shares in the 4's.
Now why would HAP and War Chest want to get money out of a Chinese RTO as fast as possible - for the same reason this board was created - they think the RTO space was crashing and they wanted out of GFRE ASAP - could it of been something they knew - sure, but why take the stock and do the loan in the first place - could it of been common sense to get the heck out of Dodge before the the sh*t hit the fan for the whole sector as was seen with CCME - hey War Chest knows this market better than most - they lent to all these firms.
So why is it surprising that HAP/War Chest did what every smart investor did in the last three months - sell out to cash in RTO China - its seems kind of self obvious - but sure there could be very bad things at GFRE - just no one has put a finger on it yet. Just mo.
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