where will it end ?, page-8

Ivanovich... Is there any way of fnding out

1. Who the major shareholder is?
2. How the deal will be funded?

My cynical suspicion is that it is management who own some of the shares in NEO-ICP which wouldnt be unusual in a parent subsidiary relationship. I expect to see the name JS Kang on the substantial shareholder list post consummation.

If this deal is funded through debt... I wonder whether there could be further 'starvation of funds to shareholders' as the debt is paid off, leaving the shareprice wallowing further...

I did note that NEO-ICP management previously diluted ICP's shareholding through the use of convertible notes. This is another indicator I will be looking for.

The only reason I am watching this is to see how this soap opera ends.

The business growth story still exists and is stronger than ever... the capital structure means hardly any of the current shareholders will benefit.

Of course at $18m it still looks like a bargain and if management were subject to the rigor of Australian law this equity growth would be shared with all shareholders. Instead the opaque Korean holding lets them do / say anything about this venture with no way of substantiating their claims.