Let's see Harold. The stock closed at 19/32 today. With 718,000 shares, that means Rhode's stock is worth $426,312. Minus the $180,000 he owes PRLN (ie US) that leaves $246,312 in equity. $246,312 at 19/32 equals 414,841 shares. Looks like it's going to be a long week!
But Wait!!! If PRLN goes under, then why would Rhodes have to pay back the $180,000? He just sticks PRLN ( ie US) with the balance! Plus, he doesn't even have to pay until 12-97. Plenty of time to padlock the doors, declare bankruptcy, and speed off in his get away car with all $426,312! Hell of a guy that Keith Rhodes!! But what he doesn't know is- what goes around, comes around.
Hank |
