Hi James, not a guess. You can see the 3 proposals in the Lawlers Partners 204 page Report to Creditors OCT 26 2011 with Pager's successful proposal on page 30 showing a massive dilutive float of 290 000 000 shares consisting of a public float @ 1 cent and a placement @ .025cent sold to investors through Brokerage Firms I expect.
You can see why the Creditors used their proxies to obtain Pagers proposition as it delivers a likelihood of them getting 100 cents back in the dollar while the shareholder gets no chance to average down like was suggested in the other two propositions. We just get a share opening up at 1 cent and maybe dropping further.
We also note in the damning Report $2 986 477 was paid to Allegra from Ethans coffers .
This whole thing stinks!!! Ethan run into the ground (outlines why in the report) , Ken now over in Zambia with Allegra and shaeholders stung so creditors get their money while everyone else sucks eggs.
ETH Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
