I like the escrow, good thinking.
To throw in another point of view If patrick gets 25% of the existing shares he would end up with less than 25% of the company. I think his goal would be 25% of the bigger pie therefore 200m shares now he would want about 70 mil bringing the total up to 270m so he holds 25%. (generous rounding but I am sure you get the drift) from memory I think the company has the option under the new agreement RB gets 25m shares plus $2.3M (in cash or share as determined by CRB) plus 1% royalty to RB. For this they get RB and therefore the agreement RB has with Norton.
What ever Patrick ends up with 25% or 30 % I would have the expectation that he would have to stump up that percentage of the plant cost which makes me think more debt than equity.
CRB Price at posting:
7.7¢ Sentiment: Buy Disclosure: Held
