You make some good points, but I am confused on the last one. Louis bought 1,250,000 for $1,000,000 or .80 cents a share. and gave up 3.2 million warrants. These warrants are basically worthless anyway or at the very most if he was extremely lucky he could of got 1/32 or $100,000. This adds up to 1,100,000/1,250,000 shares or .88 cents a share. You consider that a market price? That is lower then it has ever traded. When Softbank bought a minority interest in EGRP they paid $24 a share and stock was trading around $20 at the time just as a point of reference. Unfortunately I think this may well be market price and is where we are probably heading. I know if I was a current buyer of CHGO and saw this deal, I would be hard pressed to pony up $1 1/2 for these shares.
Just my opinion,
Rory |
