The Placencia group of companies was valued at $

The Placencia group of companies was valued at $450 million for the purposes of the transaction. Orpheum has agreed to pay the seller $225 million in the form of 150 million shares of the company's common stock, as well as 10 million shares of Treaty Energy Corp., $75 million in the Treaty's preferred stock, and a commitment to raise $45 million in cash within six months.

So did Reid lie yesterday or is this Article in the business section of a newspaper lying?

I'm not being sarcastic because it was my question he answered but this article is on NOLA.COM.  If you go on there and search Andrew Reid CEO you will find what I am talking about.  I really want to think that Reid is being honest be we spent a lot of money of "Reid's other companies".  Just would like to get to the bottom of it.  And don't tell me to ask Reid because I literally asked him yesterday.