Posted On: 12/29/2015 3:55:20 PM
Post# of 30066
Re: FiggyPiggy #21855
From Filing:
Gemini Master Fund, Ltd. was organized under the laws of the Cayman Islands.
Gemini Strategies LLC, Inc. was formed under the laws of the State of Nevada.
Steven Winters is a United States citizen.
http://www.sandiegoreader.com/weblogs/financi...was-aske/#
Winters's Gemini firm specializes in Private Investments in Public Equity, known as PIPE. This involves the selling of some form of preferred stock or convertible security in a publicly-held company to private investors. PIPEs have been controversial and their usage has fluctuated, because often, when a small, difficult-to-finance company raises money through a PIPE, the existing shareholders suffer dilution. Also, the private owners may end up controlling the small firm if it goes down. For this and other reasons, PIPE deals can be known as "death spiral" or "toxic convertible" deals. As recently as two years ago, 10 percent of PIPE deals were death spirals, according to TheStreet.com. I asked Winters if Gemini had been involved in death spirals. "We don't discuss our portfolio," he says. "We invest in small cap and microcap stocks. Not all of our companies have succeeded." Gemini doesn't disclose how much it has under management.
So here we have a guy, (Steven Winters), who used to work for Bernie Madoff, who now has runs a fund based out of the Cayman Islands known for death spiral financing. And he now owns 10% of the company. Hmmm.... what could possibly go wrong.
Gemini Master Fund, Ltd. was organized under the laws of the Cayman Islands.
Gemini Strategies LLC, Inc. was formed under the laws of the State of Nevada.
Steven Winters is a United States citizen.
http://www.sandiegoreader.com/weblogs/financi...was-aske/#
Winters's Gemini firm specializes in Private Investments in Public Equity, known as PIPE. This involves the selling of some form of preferred stock or convertible security in a publicly-held company to private investors. PIPEs have been controversial and their usage has fluctuated, because often, when a small, difficult-to-finance company raises money through a PIPE, the existing shareholders suffer dilution. Also, the private owners may end up controlling the small firm if it goes down. For this and other reasons, PIPE deals can be known as "death spiral" or "toxic convertible" deals. As recently as two years ago, 10 percent of PIPE deals were death spirals, according to TheStreet.com. I asked Winters if Gemini had been involved in death spirals. "We don't discuss our portfolio," he says. "We invest in small cap and microcap stocks. Not all of our companies have succeeded." Gemini doesn't disclose how much it has under management.
So here we have a guy, (Steven Winters), who used to work for Bernie Madoff, who now has runs a fund based out of the Cayman Islands known for death spiral financing. And he now owns 10% of the company. Hmmm.... what could possibly go wrong.
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