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17:25
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Originally posted by trkrkd:
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I don't think you understand or have thought about how these arrangements work. GEM isn't interested in building an equity stake. They're not interested in our board. The only reason they're in this is to buy newly issued discounted equity and then sell it back to the market, hopefully for a profit. The entire reason GEM has provisos about the amount of cash that WFL can draw down at a time is because they don't want WFL issuing so much equity that it becomes impossible for them (GEM) to sell it without completely tanking the price. That's the sole reason for that proviso. If GEM were actually interested in building up an equity stake, it wouldn't exist. You need to ask yourself some questions:
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Do you really believe that AE quit after only a few months on the job because of increased workload at his legal practice?
(20min delay)