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Microcap & Penny Stocks : Genesis Media Group, Inc (GNNX)
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To: R. M. Rosenthal who wrote (121)4/17/1998 10:27:00 PM
From: Gutterball  Read Replies (1) of 3129
 
After seeing what Meyer Group is valued at by ICSV, I'd say they don't have the critical mass to pull $60 million out of their ass.

In answer to your question, payments on the $60 million contract are to be made in advance and weekly. The schedule of payments is not disclosed in the press release. And if there is a bond, why not cover the full value of the contract?

If you read the ICSV announcement, the exact number of shares will be established following an audit of the Meyer Group, about 5/1/98. My question, What if the Meyer Group carries its $60 Million contract as a prepaid expense. How would that inflate their balance sheet in consideration of the number of shares ICSV will issue.

As I understand things ICSV has about 30,000,000 shrs authorized. Seems to me, 60 million dollars of prepaid expenses would just about consume all of ICSV's authorized shares.

Go figure!
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