Paunch, I did a cut and paste of your post and added some comments.
I did this in the hope that other ipmcf shareholders can reread this
plan and decide if this is the way to go or not. If the court puts
IPM into chapter 7, and this means that the IPM Company and ipmcf shares
cease to exist, then the Black Rock dirt stands by itself as a piece of
dirt property that may be claimed. With no company shell attached to
the dirt, and this thread representing a company that does not exist
anymore, and the dirt of Black Rock being in the same area as Maxam's
dirt, and as Richard pointed out Maxam trades and is shipping dirt
and just happens to be extremely low in price. So if the dirt of IPM
is good dirt, then most likely Maxam's dirt is good dirt and it now
seems to be proving it. As I wrote in a prior post, for myself I want
to put US $10,000 into a IPM buy out and keep the IPM company intact.
The follow are some of Paunch's post, with my comment under the lines.
10,000,000 share holders at .10 per share gives $ 1,000,000
12,000,000 shares chose not to be a part of the new company
total current ipmcf shares = 22 million
I don't know where Paunch got the 10 million number,
except this number makes it a 10 cents per share new money
required. A 5 cents is nicer, but need 20 million shares.
I do remember that about 2 million pledges were gotten,
but I don't think all were also signed up for new money.
To put the buy out in reach of most current shareholders,
Paunch uses the number 10 cents to mean that for each share
you hold, you will add new money of 10 cents per share.
Easy to calculate, divide number of shares you hold by 10
and this is the dollar amount.
For me, 110,000 shares means I put in new money = $11,000.
Some shareholders may want to input more, or less, than this
10 cents per share, and this can be worked out later.
but in the end 1 million dollars has to be raised.
We issue one hundred million shares for .01
Each person in new company buy's shares according to what they own now.
The according to what they now own, to me, is as follows.
How many do you have compared to the total, where the total
is not the 22 million, but the 10 million shares that will
input new money at 10 cents per share.
For me, my 110,000 compared to 10,000,000
the ratio is to be the same as in
my new number of shares compared to 100,000,000
which is I need to buy 1,100,000 shares at .01 = $11,000
(current hold)/(current total) = (new hold )/(new total)
where the current total is the number only of those buying
and new total is the number of new issues.
Then we do a 10 for 1 reverse split
Started with 22 million, with 10 million in buy out.
Created 100 million new shares at .01 per share.
Now got 122 million shares
12 million shares not add new money
10 million shares add new money and pick up 100 million
The 10:1 reverse split done to all now.
122 million shares becomes 12,200,000 shares.
The 12 million that did not add new money is now 1,200,000 shares
The 10 million that did add new money is now 1,000,000
The 100 million newly created is now 10,000,000
Total = 12,200,000
Control of shareholders that added new money = 11 / 12.2 = 90%
Where before 10,000,000 / 22,000,000 = 45%
Or the pledged 2,000,000 / 22,000,000 = 9%
My wondering is that I know about 2 million shares were pledged
by about 160 people to Chuck, so who is the 8 million shares
needed to make this happen.
Pay debt and the 12.2 million shares have 1/2 million cash now,
so before spending it to prove the dirt, 1 share = 4 cents.
For me, my 110,000 shares.
If I did not add new money, I now got 11,000 shares.
If I add money, I got 121,000 shares.
Assume the 4 cents above, which is like the 5 cents before chapter 11.
Assume the price per share after bail out equal to prior chapter 11.
Add new money and your number of shares will be equal to today.
No add new money and your number of shares divide by ten.
So in a way, if there is a buy out, and you want to continue to hold
the same number of shares, then new money = 10 cents per share.
If a buy out and add no new money, shares/10 = new number.
Take the number of shares you hold, multiple by average cost,
compare this to number of shares multiple by 10 cents.
The bigger the diference is bad, but for the buy out, its a good
reason to add new money.
If you have 1000 shares at 10 dollars = $10,000
input $100 and end up with 1100 shares, or
add no new money and end up with 100 shares.
To get investment back with new money added need $10 per share,
with no new money need $100 per share sell.
Input $100 to save $10,000 (1%).
If average is $1, input $100 to save $1,000 (10%).
This can work if 10,000,000 shares are being represented.
new company owning 10 million shares
old company owning 1.2 million shares of which the share holders of the
new company ownes .5 million, that leaves the new company owning 10.5
million shares, the share holders that did not take part still own .7
million shares. When completed the share holders of the new company own
and control almost 94 % of the new mine, the share holders that did not
take part in the new mine still retain 10 % of their shares |
