Lind may in fact be doing the note holders a big favor, if they manage to help the SP down to 0.001 and then help to hold it there, simple math then - consolidate, and once the SP finds a lower floor and then convert at the 10% to 15% disc to the consolidated vwap, and you may find the note holders converting at the equivalent of around 0.0005 based on the pre-cons SP
If so they cream it, and would end up with up to 6 x number of shares if the SP wasn't driven down and no consolidation took place. End result is they basically would end up owning most of the whole company as some of these note holders already have substantial holdings.
The remaining series 1, 2, & 3 notes plus the $550k convertible security totals up to over $2mil of conversions that are yet to occur sometime. If these note holders wait until after a consolidation then it is possible that they may be able to convert at around the equivalent of 0.0005 at pre-cons prices, or half of the lowest SP possible they could do if there wasn't a consolidation. That would calculate to an additional 4billion shares on conversion of all remaining notes.
So anyone catching my drift here, in say 1 year from now with Page and Chalk Sea off the books somehow, and if they can retain the last 5,000 acres, then with the whole company basically owned by a few, well it doesn't take Einstein to figure the options these people would have who now have complete control
One thing is for sure as I just wiped the dust off and read my crystal ball, and not wanting to only believe one source I then had 6 cups of tea and read these tea leaves and yep they all show a consolidation looming
GGP Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
