i understood it the way you did as well TC...but apparently we understood it wrong....it was my understanding that non of the pooled shares will get an ngio dividend....you understood it that with the old deal, veneto will get a 1 to 4 on the shares acquired and the rest of the pooled shares will not.....
but from what i am deciphering now....we were both wrong...the 34 million shares got a 1 to 4 in the ngio....and are now being used to sweeten the veneto deal and use for other acquisitions...maybe...still costing the generex shareholders nothing....but some in the market is reading this negatively, hence why the decline in the pps over the last 10 days or so...hopefully that will straighten out in the next 10 days.....who knows....
TC wrote:
msowid, see this is where it has not been explained completely. First off, I asked the question on the conf call at the end of Feb about the NGIO shares. It was explained that only the shares that were part of the initial Veneto purchase would be entitled to the NGIO shares. All other GNBT pooled shares did not get NGIO dividend. So that means the Veneto was getting 6M shares of GNBT and then the 1.5M shares of NGIO instead of the original $15M cash payment. Now with the renegotiation, Veneto is getting 8.4M shares and 5.5M shares of NGIO.
Also, all the other pooled GNBT shares seemed like no NGIO shares were being issued for them since they were being held by the company now as pooled shares. This would increase our value of NGIO since there would be less shares to go public with. However now they have the NGIO shares, which 34M share of GNBT would generate 8.5M shares of NGIO, which they just gave almost 65% of them to Veneto during a renegotiation.
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