Pendretti/Leroy: Pendretti, you hit the nail on the proverbial head. For TGSK to have obtained $8 million at prime + 2, the lender (Bristol) performed OVER SIX WEEKS OF DUE DILIGENCE on the company. The granting of this loan is perhaps the strongest endorsement of all for TGSK's legitimacy. Of course, all the other added features don't hurt either (fully reporting, audited statements, etc.)
Leroy: your point about collusion is a difficult one. My personal opinion (and this is NOT a legal opinion) based on what I have heard is that we all obviously have a right to take possession and we have a right not to sell. It is when a specific agreement is reached between shareholders not to sell in order to drive up the market, that it becomes illegal. So what constitutes that agreement? Hard to say. Factors in our favor are: 1) that there are far too many shareholders to have any effective control over them, 2)most of the people here have no idea who each other is/are; 3) no true confirmation can be had that anyone is even doing this anyway (for example, I move in one month and there is no way I can risk delivery of 47k of shares when my broker tells me it could take 4 weeks for delivery and I MIGHT NOT BE HERE); and 4) People are selling right and left as they please. I believe "collusion" occurs when a very calculated agreement by a few players to buy up the float and drive up the market occurs. Even if one party were to step in right now and buy 2 million shares to intentionally break the shorts, there is no collusion as they are free to sell when they want and are not acting under any agreement. I assure you people will be selling at $2, $3, $5 or there own psychological barriers. Nazz's share count is simply an indication of how many shares we know are out there. The cry of pulling your certs, to me at least, is a suggestion and just information for each shareholder on their right to control their shares. There is no real "agreement" on that, particularly when we are talking about hundreds or thousands of shareholders, none of whom know each other and most of which won't take possession anyway since it is too inconvenient and they can't sell them immediately if they do. I don't think we are running any risk (again, NOT my legal opinion) but I will post information if I find any on "collusion". hope this helps. |
