herbert, you're right, they want to end up with 9.9% of worthless stock. Very sound investment practice. Getting there they've cashed in debentures worth sub-penny when issued and made nothing from those transactions. I think I'll give them my dollars to invest.
Now, I don't know about others who have been sucked dry by instruments such as this but the only way they could have been is if they dipped into the pot. GZFX hasn't, or at least not to a great extent. Seems like daily, or more than once daily, a reminder is thrown out that their coffers are full and their powder is dry. They are not dipping into the GGI pot. Also, whatever shares GGI might have in their hands are investments in a company they believe will florish. They are longs, like many around here.
Does the instrumnet frighten me, you damn well right it does. But I throw my trust at management. They only entered into it to have financial backing which they had to have to approach people as big as Circuit City and they stand to lose more than I if they use the credit line foolishly. I will be surprised to see that they have issued over 200-300 million in debentures so far and those do not represent shares floating around the open market.
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