Well I have some food for thought and all longs should think hard about this,
do you really think Jack would spend the last of BNEZ bucks to develop these 3 spin off companies if they didn't have some sort of plan for them already.
I can't see him spending thousands of bucks only to have a couple little corps doing minimal revenue, like under 100k a year. Add in the cost of the audits and all the Nasdaq and Sec stuff and you have quite a bill.
Think of this
We have all come to realize that Jack and Mikey couldn't sell PMA, OKAY, lets quit beating a dead dog.
1. Jack made millions being an investment banker, I'm sure he still knows how to do this very well.
2. Jack could have put some deals together for these new shells as people are calling them.
3. Mikey is still a lawyer and I'm sure he can handle most of the legal work on all of the documents without any cost to the company.
my bet is that the spin off or shells as they are being called on R.B. are going to be used as a catalyst for other companies to merge or use the shell to some extent.
It seems to make sense, in the press release, why the hell would jack mention that it is easier for the company to be sold when on the pink sheets, and that they are quoted saying they have plans for PMA, Capscape and PPM, but the most important part right now is getting the spin offs done. ???????? and you ask why is that the most important thing first,
well, if somebody wanted to buy BNEZ, Bnez would need to shed any assets or liabilities that the new company didn't want. Once Bnez is free and clear of spin offs and any other debt that they might have had, they are clear title to sell the company.
more food for thought, as we all know, Jack has put over 3 million into the company, well, he had to convert that cash to stock and he probably got each share for .10 cents. Remember when Jud posted that he found the total shares out was 30 million and that it was being raised to 70 million or so to facilitate the sale of the company,
To: Leroyt (8359 )
From: Jud Friday, Jul 2 1999 12:38PM ET
Reply # of 8927
Leroyt,
Please let me make some guesses:
1] On May 21, 1999 there were 29,631,327 shares of BNEZ. If my guess is true, HOW IN THE WORLD DID THEY GET THERE?
2] Authorized shares of common stock have been DOUBLED from 35,000,000 to 70,000,000 to "facilitate the pending purchase of the Company."
I just love guesswork.
Jud
so that is why they increased the authorized by millions, to take care of Jacks loan to the company, then my bet is that all those 500k and 1 million share blocks we saw right at the bid was Jack selling stock to the buyer of the company, although, they must not have enough shares yet to announce they are buying us, remember, Jack has controlling interest in the company
okay, so you figure 30 million shares at .10 cents= 3 mil, plus the other 30 million bnez out at say a buy out price of .15 cents say 5 mil, that is a total of 8 million for PMA, Capscape and PPM. Now I heard that PMA as a software asset was worth almost 3 million, so that leaves 5 million, but alas, whoever the buyer might be will also have 3 million shares in each of these spin offs and if they can even get .10 cents per share, they walk away with no investment and 3 great software product to sell all over the world.
Although we all have dissed on Jack and Mikey here, ( but we all had the right to, the way the shareholders were kept out of everything that happened ) I still believe that Jack is going to pull something out of the hat here. Remember, I have met Jack twice in person and he is a man of his word. I will never forget that. Even knowing that Jack has the shareholders best interest at heart, he sure doesn't know how to show it very well so far. But if you read between the lines on the last press release, the writing is on the wall. Jack is not a scam, bum, thief or whatever other people have called him, he is a family man with a wife and children just like all of us, I think that he just got to far in under his head and then the AOL blunder with the stock and the ability to not raise capital threw a big wrench into it. Remember 1 thing that is very important, PMA was just starting to get developed when the AOL blunder happened, Jack could have thrown in the towel right then and stuck it to the shareholders, but instead he infused the company with capital to make it work for 2 years. If jack was a scam, why would he put over 3 1/2 million in the company of his own money. because he knows that he is liable to the shareholders of BNEZ, that is the position and responsibility that he took on. If your a scam, you suck money out of the company, not put it in, remember everyone. That is how that Frankel guy up east got 200 million over 5 years. It sure the hell wasn't his own hard earned money.
Anyway, I'm not sticking up for Jack or Mikey or Bnez because the way they have gone about their PR and investor relations would make even a freshman in marketing class blow chunks, but I think that this whole journey is getting ready to end soon and lets just ride it out a little bit more and see what happens. Who knows, if we can get a total of say .50 cents out of all of the spin offs and any buyout money out of all of this by years end, I know I will be one very happy camper just to see it end and get a good chunk of money back.
of course this is all my opinion and that is the way I see it right now.
get ready for the snow, because it is heading south in a couple of days.
mitchell
|
