An irreverent look at Wall Street
Palmoni:It is new in that it is not a public company, but it has a valuation nonetheless, as private placements are being doneThis is my understanding thus far:- Over the summer participants in the previous $5 private placement of MGOL shares were issued shares in Minatura International LLC (MINTL) as compensation for the delisting of their MGOL shares.- Later it was decided that other shareholders who purchased MGOL shares on the open market would be compensated in MINTL shares according to the formula you described earlier: You take the cost that you paid for your shares, and divide that by 1.5--and you convert your shares into the new company. Thus if you bought 1000 shares at 7.5, you would own 5000 shares at 1.5--of the new company, that has an implied value of 3- Gil Bradshaw has assisted some MGOL shareholders (how many?) to convert their shares (Palmoni included?)- There are other shareholders (how many?), who haven't been able to get anywhere with Gil or any other contact within Minatura.Is this all correct?
if he converted shares that means the public should be able to also with MGOL...something doesn't sound right
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