Tantallon,
You say you’ve been wondering again. You’re just full of wonder, but some of your conclusions aren’t so wonderful. After your long winded attempt to cast doubt on everything you can think of, you asked if you missed something. You missed quite a few things.
First off, for what it is worth, you may not see 2010 year end data until as late as March 31.
Then in your contorted effort to make something out of the May 25th date, you suggest that JJ set this date so they could digest the May 15 release of Q-1. Do you really think that the 51% shareholders, with Directors attending board meetings, have to rely on the release date of public information? I expect they have access to weekly information, as well as reviewing the quarterly information before it’s released. I’d suggest the reason the repayment and conversions option date is May 25th, 2011 is that it is exactly two years following completion of the financing transaction.
You also missed any balance in your comments. You’re careful to mention loans advanced prior to full production cash flow, and also careful to avoid mentioning that cash flow will be available to repay these short term operating loans.
You refer to dividend payable, and the Preferred Share Dividend Liability that you don’t understand, neither of which have anything to do with the May 25, 2011- which is nothing other than the anniversary date the loan is due, and the date that JJ can convert to common shares, at their discretion. As discussed several times, they have indicated their
Approval of the plan to repay debt from operating cash flow.
The other thing you’ve missed is that in your rush to find negatives, you misinterpreted the Bylaw change you made such a big deal of, as “a very clear shift in the control of the company”. You could look it up yourself if you dare to, but I can tell you the CEO’s deciding vote was not revoked. Those understanding meetings will realize that the Chairman usually has the casting vote. It was the Chairman’s casting vote that was “revoked”. The Chairman is a Jilin Jien representative. Please try and get this understood, as you have embarrassed your friend EB Farnum into congratulating you for this great discovery, which is nothing more than proof of the bashing you both enjoy, and you inability to understand a single concept.
Now it makes sense, it maybe even makes sence.
Best
Nickel
