Question for the accountants/CPAs: According t
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Posted On: 01/11/2018 3:18:18 PM
Question for the accountants/CPAs:
According to the annual reports, nearly 90 million shares were given to Royal Capital Group. There's been a lot of speculation that this entity belongs to David Foley. Lisa Foley was given about 20 million shares. David Foley was given at least 8 million shares. If you add all of these shares up, the total is over 100 million shares. If NTEK is looking to buy back at least 100 million shares, could it be it is looking to buy back these shares to take them off the market? David Foley and family, of course, would still maintain more than 50% ownership of the company, but privately, and the remaining 49% of the company would be left public. Is that possible?
Thanks in advance for your thoughts.
According to the annual reports, nearly 90 million shares were given to Royal Capital Group. There's been a lot of speculation that this entity belongs to David Foley. Lisa Foley was given about 20 million shares. David Foley was given at least 8 million shares. If you add all of these shares up, the total is over 100 million shares. If NTEK is looking to buy back at least 100 million shares, could it be it is looking to buy back these shares to take them off the market? David Foley and family, of course, would still maintain more than 50% ownership of the company, but privately, and the remaining 49% of the company would be left public. Is that possible?
Thanks in advance for your thoughts.
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