CNOC has 94 million shares outstanding. After this transaction, Pegasus will have somewhere around 35-40 million shares by my calculations. Since Chimera owns 5 million shares of Pegasus already as partial payment for the Master Licensing agreement, then they are really paying 10 million shares for everything else besides the 5 million shares of Pegasus being held by Chimera. That includes the proprietary technology wholly owned by Chimera, the $3 million dollar development center in Vancouver, the Costa Rican operations center, the 25% of revenue Chimera earns from Pegasus' websites, the 8% of revenue that Chimera earns off of every Pegasus SUB-licensee, whatever cash reserves they have I presume (?), and all of Chimera's licensees as well. Damn! Talk about a yard sale price. As the long-term holders of Chimera have known for some time, Chimera stock has been grossly undervalued to say the least---while Pegasus has been undervalued to some extent. That said, Pegasus at it's current price is now instantly undervalued--tremendously undervalued! The real point I am leading up to is this: (and each one of us needs to make as much noise as possible about this if there is no explanation forthcoming from Chimera) IF Chimera intends to trade all of the above at a FIXED price of say, .08 per share that Pegasus closed at today, then we are getting screwed! There is no other way to say that. That means each share of Chimera is to be "valued" at little more than 0.015 per share (granted, that is a quick calculation, but you get the idea), which can only be viewed as theft. IF, on the other hand, we were to get the shares of Pegasus DIRECTLY IN EXCHANGE, then this might still work out reasonably well, assuming Pegasus hires a REAL investor relations firm to get the word out on just what a bargain they just got. The reason I write that is because by any measure, the deal Pegasus just got SHOULD drive it's share price up considerably-- I am talking something like .50-.75 cents per share. Still not a great deal for those of us who stuck this out for a loooong time, but not a complete screwing either. When I read a swap of 15 million shares(10 million net in reality)for Chimera's assets, I initially thought that was not great, but I could live with it if Pegasus were to take off like they should, but like a couple of other posters out here, the phrase "PAYABLE IN A SPECIAL DIVIDEND" is what really has me concerned/upset/worried. I do NOT want a SPECIAL DIVIDEND, I WANT THE SHARES OF PEGASUS DIRECTLY, THANK YOU VERY MUCH!!! I will be weighing my options very carefully in the coming days, and I would say without hesitation that Mr. Chua has much explaining to do in the coming days. SPECIFICALLY, WHAT PRICE IS THIS SO-CALLED SPECIAL DIVIDEND TO BE PAID AT??? Pegasus can easily remain mostly silent until we take our screwing, THEN ANNOUNCE TO THE WORLD THE DEAL THEY JUST GOT, the fact that they are cash flow positive (which ladies and gents, my best information--very hard to come by obviously--is that they were already cash-flow positive BEFORE this "sale"!!), then watch the stock price take off with Pegasus insiders presumably owning the shares they just issued for the SPECIAL DIVIDEND, then bought back at cheap money (.08???) and making all the profit that rightfully belongs to US! I DO NOT like the sound of this at all, and I want a full explanation from Mr. Chua, a FULL explanation, as to what price he is REALLY selling our shares to Pegasus for and WHY? Like alot of you, I became increasingly concerned and suspicious of why it was that Pegasus would release info on "their" progress over the past year, progress such as the language packs, technology, etc. etc., when those of us who have followed this since it's inception know full well that ALL OF THIS TECHNOLOGY, ALL of this progress relating to advances in capabilities, etc. WAS AND IS CHIMERA's PROGRESS! In other words, Pegasus does not even exist without CHIMERA AND IT'S TECHNOLOGY. ARE WE BEING SOLD OUT IN A BACKROOM DEAL? I WILL BE WRITING TO Mr. Chua and suggest everyone else do the same to get to the bottom of this--as quickly as we can! His email for those who do not know is: ken@724bingo.com ....Since news just released, I will allow for the possibility that there is a logical explantion that he will provide and that perhaps it is possible that he is not giving away our shares--but I for one want to hear that explanation VERY SOON!
