Ed, thank you for that important info. We are long the stock, very small but interested in more. It's against my advice but I provided no clear case or compelling logic for the stock being significantly overvalued at this time. I hope the action doesn't cause me an embolism.
The girls and I got together as usual on Tuesday and had tea. We discussed our positions and they asked me for an update on a few stocks, one of which was Benz. I went through the story as written, the horror of the balance sheet, the incredible corporate expenses, the sacking of the promoter and, not the least important, the lack of exploration success to date. They weren't shocked. After all their dealings in Vancouver, their heads are like porcelain.
All they wanted know was about the move to Delaware.
I outlined two scenarios, which one I can't decide makes sense.
First, the company is going to explode and there's somebody somewhere who is going to get a better tax treatment if it is a writeoff and domiciled in the USA rather than Canada. Second, there's somebody somewhere who is going to get a better tax treatment if it is a success and domiciled in the USA rather than Canada. They reflected on this for a very short time, voted, and I was instructed to buy the stock. I hope you are happy. |
