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Gold/Mining/Energy : Pure Gold Minerals (PUG)-TSE -- Ignore unavailable to you. Want to Upgrade?

To: JKNF who wrote (850)10/28/1998 12:29:00 PM
From: J.P.Campbell  Read Replies (1) | Respond to of 1030
 
To JKNF, a little clarification on 'armslength'

In proper accounting terminology 'armslength' is supposed to refer to any business dealing that is done with anyone not defined as an 'insider'. Armslength would include the average retail investors such as ourselves and any non-related fund or institutional investors.

I know you consider Carina's explanation on the warrent repricing pretty lame but it does made some sense. If PUG had raise money from institutional investors with warrents that were restricted from free trading they would have to reprice them lower before they expired or lose those investors as sources of future financing.If they burn the big guys they will run out of funds very quickly. As the D-warrents were free trading and probably were mostly held by small retail investors PUG wouldn't feel much pressure to 'do the right thing' and reprice them down too. The 'insiders' can always be counted on taking care of their own interests as we've now seen with the options repricing.

Not trying to be irritable,JKNF, just commenting on 'armslength'

Best of luck, J.P.Campbell



To: JKNF who wrote (850)10/28/1998 5:31:00 PM
From: teevee  Read Replies (1) | Respond to of 1030
 
Hi,
This IMO is a typical last gasp effort in an attempt to generate the impression that if one buys at or slightly below the option price, they will be getting in at the same price as insiders. Something like this is usually the "last stab" in order to generate buying/liquidity at any price before the stock is rolled back. I hate to say it, but IMO this isn't the first time "investors" in DS companies have been crushed.


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