Many thanks, Prof, for setting out in full the details of the triangular scenario you envisage. All three participants would find that a rewarding and advantageous deal, which makes it all the more plausible as a draft hypothesis.
As you have pointed out, the problems with the old TA would explain why this has taken longer to come to fruition than would originally have been estimated, but the reverse merger element makes a deal of this kind of special interest to experienced shareholders.
After today's financials, I keenly await the next announcements.
Go, EMXC!
++++++++++++++++
$EMXC - MPIX - Gilman
There seems to be some confusion of what Rox is doing here - let me offer a scenario, which I believe is true.
$EMXC is a Holding Company - its job is to find companies to merge or acquire.
Its job is not to sell sneakers and earn revenues - the subsidiaries earn revenues - the Holding Company gets a percentage or equity in their stocks.
Here the possible scenario -
A few years ago(2009), Gilman came to $EMXC and asked for assistance in their company - this long process involved many things:
-looking for financing
-deciding the best way to share the profits
-setting up the mechanics for the financing
-setting up the mechanics for the reverse triangular merger ( the method agreed upon in this case)
Last year(2010), $EMXC went about acquiring a shell ( MPIX) which would then be spun off, and set up to make the merger with Gilman, (thus making Gilman a part of MPIX and subsequently a part of $EMXC Holding, as well as making it a public company, where it can enjoy all the advantages of being a public company.)
$EMXC merged with MPIX with an equity exchange method ( only theoretically - I believe we will see in the end that $EMXC has practically acquired MPIX).
This year(2011 til present), Gilman and MPIX arranged an equity exchange so that Gilman would become a part of MPIX through a triangular reverse merger, under the auspices of the Holding Company, $EMXC. During this same period, the management of MPIX was replaced by Mangement people from $EMXC ( which is why I believe that MPIX will practically be at some point 100% a part of $EMXC.
ALso this year, the final procedure was finished for the financing - $EMXC shared this info with us - many were amazed, many scoffed at it - typical in Pinky Land.
Now enter the problem - the old TA - crooked - threw a wrench in the deal - set the whole process back at least 3-4 months - we are still waiting for closure, for the chill to be lifted.
The above explanation is merely ONE of many companies, like Gilman, doing this sort of thing with $EMXC. Unitel is another company. With the equity that these companies bring - in Gilman's case, Mining assets - in Unitel's case, signed contracts - $EMXC was able to acquire financing ( also using its Library as collateral). I believe it is the library which we see as Goodwill in the fin's.
For those who think $EMXC just ran into Gilman a few weeks ago and got a 50 million dollar finance packet in a few days, I would say: "think again"!
These things take time, and we are still being forced to show our patience.
Best to all,
prof
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