The fact that BME bought the alleged entitlement to 44 million shares for a couple grand was what prompted me to shell out $1020 for 100,000 shares earlier today. That was the minimal extent of my review.
The bond issue arises from the fact that BME wants the court to issue a preliminary injunction to cause PCFG to deliver 44 million shares now, in case BME wins later. Preliminary injunctions are to maintain the status quo, until a court can determine the merits (e.g., to preserve a forest or historic building until the development project is determined to be legal). The bond is the defendant's "insurance" that the plaintiff can cover the defendant's loss if the preliminary injunction was improperly granted.
The judge will decide the motion, but if the judge decided to grant the preliminary injunction, the injunction will not go into effect until the plaintiff pays whatever bond the judge sets. So, before BME has to pay a bond, we will get a preliminary take from the court on who is likely to win. If the likely winner is BME, then the bond issue comes up. If PCFG is the likely winner, there is no preliminary injunction and no bond.
From our perspective, it would seem best to merge this preliminary question with the merits (i.e., to decide the whole case at once). If so, that also would involve no bond, because the court would decide the case finally, all in one go.
Now I gotta get back to work...
Go $PCFG, Go
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