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Technology Stocks : GALTECH SEMICONDUCTOR MATERIALS CORP. (GTSM)
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To: gammaray who wrote (351)6/14/2002 4:44:30 PM
From: Mahatmabenfoo  Read Replies (1) of 394
 
--It makes no difference whether the loan is repaid or not

You're talking accounting principles. I'm taking reality.

If Verity (whoever that really is!) paid money and got shares in return, to anyone other than an accountant it looks like it paid for shares.

Calling that a "loan" doesn't change anything, especially (if like the way GTSM handles its other debts) it never pays the loan back.

- Charles
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