This is what I think is going to happen.
1)The company will be awarded the cash amount that the sold shares into the public
are worth now.
2)The company will then proceed to buy back those shares.
3)They retire the 50 million, as promised.
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If the case goes to court, #1 is a likely result. However, I don't think #2 is possible. If Eutro has to buy 20 million shares, the price will skyrocket. Therefore, they won't be able to buy all 50 million shares.
That is, unless they can convince the judge to award them enough money to buy back all of the shares, regardless of the cost. Eutro would probably need to show that retiring the shares are important to the conduct of their business.
In any event, it is going to be a long, rocky road. However, once Eutro files a suit, the names of the 4 companies will be a matter of public record. It would be a blast if one of the companies was in the midwest. Picketting and handing out flyers would be fun.
Mike |
