Replies to post #45766 on East Coast Diversified Corp (fka ECDC)

[chicagodog]

Actually, I think Kay has no interest one way or the other in holders of class C common shares. As long as creditors and the ridges, Iron and South take discounted shares in lieu of cash, he is not selling directly to the public. Kay has no stake in common shares or shareholders thereof, it's the ridge's problem to offload them, not his problem. Kay owns all of the intellectual property(such as it is), and large portions of the proceeds from them. Kay's position is first in line for pay outs and nowhere in line for liabilities. If all goes well his large stake of class A&B shares guarantees his primacy in all meaningful areas and limits his exposure. Should all go wrong, he can walk with the customers and the products leaving the debts and mess to others. Don't forget he scoops 8% off the top for use of his non patents, and 49% off the top of vir20, after the first 2 million. As shareholders of class c stock, we own the up or down share price in proportions that have proven to be ever changing, usually downward. IMO

I think the most likely scenario is Kay puts up with shareholders to pay bills for now. Then, if he does get this off the ground, he later wipes them out.