There is a HUGE missing piece of information. Fro
Post# of 30066
Posted On: 11/08/2016 7:08:19 PM
There is a HUGE missing piece of information. From the note payable to the investment banker:
"For good and valuable consideration, Amarantus BioScience Holdings, Inc., a Nevada corporation, (“Maker”), hereby makes and delivers this Convertible Promissory Note (this “Note”) in favor of BMI Capital Partners International Ltd, (“Holder”), and hereby agree as follows:"
What is the consideration for? They haven't done anything yet. This should be a retainer. Companies don't pay retainers to investment bankers of a million dollars- more like $100k. I checked online - most I found were in the $25k to $100k range. Investment bankers get paid when they close a deal. Furthermore why would Dominick and Dickerman give away half their fee to BMI upfront before trying to do a deal themselves first? What if these guys can't put together a deal- they get to keep the million dollars anyway? LOL. This makes no sense.
It appears they must have already put together a deal and rather than taking their fee in cash at the closing, they are taking it in a note instead. The $250k note appears to be short term to closing. Also interestingly, BMI Capital Partners International appears to be the international arm of BMI Capital in New York. They have an office in Hong Kong, so maybe there is an Asian connection? This could be a reason why Dominick partnered with them. If these guys actually put together a deal and took a million dollar fee, then it must be a sizable deal.
"For good and valuable consideration, Amarantus BioScience Holdings, Inc., a Nevada corporation, (“Maker”), hereby makes and delivers this Convertible Promissory Note (this “Note”) in favor of BMI Capital Partners International Ltd, (“Holder”), and hereby agree as follows:"
What is the consideration for? They haven't done anything yet. This should be a retainer. Companies don't pay retainers to investment bankers of a million dollars- more like $100k. I checked online - most I found were in the $25k to $100k range. Investment bankers get paid when they close a deal. Furthermore why would Dominick and Dickerman give away half their fee to BMI upfront before trying to do a deal themselves first? What if these guys can't put together a deal- they get to keep the million dollars anyway? LOL. This makes no sense.
It appears they must have already put together a deal and rather than taking their fee in cash at the closing, they are taking it in a note instead. The $250k note appears to be short term to closing. Also interestingly, BMI Capital Partners International appears to be the international arm of BMI Capital in New York. They have an office in Hong Kong, so maybe there is an Asian connection? This could be a reason why Dominick partnered with them. If these guys actually put together a deal and took a million dollar fee, then it must be a sizable deal.
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