Posted On: 02/20/2013 10:56:43 AM
Post# of 39368
Re: Oilfield Trash #6716
Actually Oilfield, you left out part of the 8K statement. It clearly states the 10,000,000 shares were paid by a shareholder of Treaty:
The Placencia Group of Companies was valued at $450,000,000 for purposes of this transaction. Orpheum has agreed to pay the Seller $225,000,000, payable in 150,000,000 restricted shares of the Company’s common stock, 10,000,000 shares of Treaty Energy Corporation (paid by a shareholder of Treaty) valued at approximately $450,000, $75,000,000 in the Company’s Preferred Stock, and a commitment to raise $45,000,000 cash within 180 days.
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