About $3 million.
For some reason there is going to be additional expenses of $210,000 next quarter, but on the form where it offers more information, they have not written anything, fairly typical.
The intention by these guys in my opinion, was to leave as little there as possible, it was just a money chest sitting there for them to plunder as long as they could, and to plan along the way how they could transfer out as much money as possible without being seen as problematic by the regulators. It's a game. They never had any intention of finding other companies for a reverse takeover.
Shareholders will be lucky to get back 3c to 5c a share (if anything at all in the end).
I expect that by the time the delisting comes around, they will have whittled away another million somehow. Maybe they'll announce another sudden expense for the company at the end, that was unforeseen, just watch this charade play out.
Gw
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