I respectfully disagree, and as I said I was replying to a person that was inferring I was wrong in my query that King has been overpaid on the loan.
King gave GPP a loan of $250,000 he was repaid $350,000 (of cash equivalent shares) plain and simple.
As in my previous post, if people don't have a concern that the company has paid more then thats there call, even with your discrepancy, any discrepancy (IMO) in the company accounts should be an issue.
One of the queries was also the fact it was in the prospectus that we owed $350,000.
King underwrote the credit raising
King had a commitment of $350,000
GPP owed King $250,000, all simple until someone can actually show otherwise.
King may be sitting on a loss on them shares but I am pretty sure he won't be too disappointed with his $420,000 loan repaid in shares 140,000,000 @ $0.003 with the current share price they are currently worth $2.66 million, as well as all the options that were granted being actually at/or under the head price of the share, nope I don't think he is doing to bad.
cheers
GPP Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
