Gobble I reckon he's just sour over the way his great business acquisition over at GAL has gone
ERR are paying $5m for an Asian based social media type dating app with $5m in performance shares
Only other company I can think of doing this is MIG which has seen its market cap multi bag from $5m to $250m
GAL is paying $10m upfront plus $15m in performance shares for a TV content distribution platform
The other company that has done this is XTV which listed at 2c with a $20m valuation and at best was able to rise to a $30m valuation before falling back to initial levels again
Really can't see GAL being a ripper deal as I think they have grossly over paid for that acquisition but that's my opinion and so far the market agrees
ERR Price at posting:
45.0¢ Sentiment: None Disclosure: Held
