OMG hello are you joking or just think in the head
Post# of 36537
Quote:
OMG hello are you joking or just think in the head, you would be right if the deal from January went through for the 35 million, let's go real slow here, THAT DEAL is DEAD, things change and your synopsis gone with that deal, the new Deal supercedes the old one, what is not to get here 0MG!
Joe, While I appreciate all you have done for GNBT, you coming on here calling one of your longest, biggest supporters "thick in the head" is not right. I listen to what you say. I asked you pointed questions during the 2/26/19 conference call about the Veneto deal. Yes, it has obviously changed, but is it for the better?
So orig Deal:
$15M cash for first closing with $20M for remaining Veneto completed on 11/1/18, so $35M total for $66M revenue. Then the $15M cash was restructured to GNBT stock at $2.50/share, so 6M shares GNBT. Since it was before the NGIO dividends, they were entitled to 1.5M shares NGIO. Therefore,
GNBT 6M x 2.50 = $21M
NGIO 1.5M x 4(need a value) = $6M
2nd Veneto $20M
Total $47M for $66M revenue
THen the 10Q comes and shows about $4.8M revenues for a full quarter of Veneto, although maybe it doesn't include 100% of everything, but it was completed on 11/1/18, so should be on GNBT books for the entire quarter. So you restructure the deal to be:
$21M (-from $35M) in GNBT stock at $2.50/share, so 8.4M shares GNBT and add'l 5.5M (+from 1.5M) shares of NGIO (a not supposed value, then why spin it out, but we will have to wait on that). Therefore the new deal, comparing to the original deal assumptions is,
GNBT 8.4M x 2.50 = $21M (-$14M)
NGIO 5.5M x 4(need a value) = $21M (+$15M)
Total $42M for $19.2M revenue
So you are paying 89.4% of the original price (saving 10.6%) on the purchase Veneto (counting all the stock with values), but only getting 35.3% of the original revenues. That look like a great deal for Veneto. They are getting paid more based on the extremely lowered quarterly revenue.
Now I'm sure you are going to say you can count Antigen NGIO shares because they have no value, but they will have a value and that needs to be included in the calculation of what you and your 3 associates are paying with your pooled shares.