1) FAMH issues lots of stock to Myriad, tied into the "credit line," as they called it, though it sounds more like an equity investment. I am unsure on how much Bristol would make off the stock, and how much off the interest on the loan.
2) Bristol coughs up $4.5 million for the Myriad deal.
3) Ira gives the IRS $1 million, while FAMH sets up an escrow account with the other $3.5 million, to assure the IRS that the debt will be paid.
This is, of course, all conjecture on your part, is it not?
Could it just be that FAMH showed the IRS their books to establish their ability to pay and the IRS made the deal based on just that...and talked the IRS into a moratorium on payments for, as I understand it, six months?
A nice simple transaction, somewhat like financing a home. All you have to do is tell the mortgage company how much you owe and show them how much you are making (your ability to pay the loan). No complicated boolean logic...no mysterious "off shore" financing, just a plain lil' ol' transaction. Not everything has to be a big complicated deal.
I'm just a country boy and I'm not very smart (very intellectually challenged in matters such as this) so I like to keep things real simple in order to understand it.
The fact is I don't know what happened any more than you do!
The difference is:
o I admit I don't know
o I don't give a rat's ??s how they did it as long as the Myriad acquisition will bring more revenue AND net earnings to the bottom line.
Dave
p.s. It's really odd how many Wall Street wizards claiming to have the business acumen of Warren Buffet or George Soros haunt the internet now, lowering themselves to actually post on a message board such as this one. I guess I should be grateful for the opportunity to learn, especially when the wizards don't own any stock but grace the boards anyway just for my own good with all the free advice. I just admitted I'm not very smart AND don't absolutely know the future direction of any stock ...why don't they?
This not directed at you LE of course because you are our friend.
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