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Chimera and Pegasus

in response to Re: Message Board by Pitboss
posted on Oct 06, 06 10:12PM
Pitboss, I am still here! I have not had much to say as I have been trying to get a read on what is coming next. Very, VERY difficult to say the least. As far as a Nasdaq listing, no that would be out of the question. They do not come close to meeting the listing requirements. As far as an OTCBB listing (?), I do not see that unless they merge first with Chimera (though such a listing to the OTCBB would still not prevent them from staying with Agora, many of these companies are already listed to the OTCBB). THAT is what makes me the most curious, and frankly nervous. Let me outline what I believe are the indicators for AND against this--and why I feel like all of you uncomfortable to one degree or another with such secrecy. The first indicator has to do with Pegasus so abruptly cancelling it's "Investor Update" in the spring/summer with no explanation whatsoever, not even a weak one. Next, as has been pointed out by several of you, why has there not even been an attempt to update the Broker "Fact" Sheet since July of 2005? That does not make sense. We all know they have at least 27,000,000 shares out there, not 15,000,000, and most new investors would be nervous about such an outdated "Fact" Sheet. Next, and most importantly-- and we have all pointed this out at one point or another-- WHY has the stock price had such a strong bid these past few months with ZERO news?!??! Sure, it is nice to see it move up, but it makes no sense. I think we can all agree: SOMEONE knows something we do not. At the same time, Chimera remains at an all-time low, even though it owns the technology, owns 5 million shares of Pegasus, earns a percentage of everything Pegasus brings in, can charge set-up fees for bringing PEGASUS licensees online, is supposed to be the company finishing their filing to the OTCBB for better Investor visibility, and finally, has more licensees of it's own and the ability to sign up the rest of the world, not just Europe and Africa! Chimera realistically is worth at least 10 times it's current share price! Now, no news will do that to a stock--so the fact that Chimera remains so grossly undervalued is not what has bothered me of late in of itself (better times ahead once filing complete and all that, etc.), but WHY has Pegasus moved up on the same lack of news?? These companies are tied too close together to think that is a coincidence. Now, the other side of the argument I have been contemplating: Assuming Chimera management still owns a great deal of their own shares as I believe they likely do, why would they want to sell out at what would amount to a firesale price to Pegasus? That makes no sense either? Or should I say--it appears to make no sense. Next, did anyone notice in that news release from Pegasus the following paragraph: "The company is in the final stage of closing on an equity-financing package worth US $1.5 million dollars. Upon closing on the financing, the company will be able to fulfill some of its financial commitments pertaining to executing its business plans." Why I ask myself would that be necessary if they were going to use all stock to just buy Chimera outright? Also, if a COMBINED Pegasus/Chimera entity were secretly filing to the OTCBB right now, would such a financing be allowed in the middle of that process? And finally, is it not possible that Pegasus has remained silent because they were advised or asked by Chimera to do so while Chimera (alone) was going through the process of listing to the OTCBB, to keep all relevant financial information to do with Chimera quiet? Plus, I have considered the possibility that "friends" of Pegasus have been driving the price up to make the Equity Financing referenced above somewhat cheaper. The bottomline as I see it is that for Chimera to remain a separate company is in the best interest of Chimera shareholders. HOWEVER, having said that, a FAIR price for Chimera shares could be a win-win for everyone. But even an UNFAIR price, and I say this with no humor, even an unfair price that is at least say, 5 times Chimera's current price, would be acceptable to me given the alternatives AND would still be a great deal for Pegasus shareholders! And the combined entity would still have about 3o million less shares than Chimera has now, by my napkin calculations. This would make it much easier to move toward an AIM listing, which I think we all agree is becoming more important by the day! Plus, Pegasus' presence is much stronger in Europe, which would help to that end. In trying to evaluate which stock has more upside, it is impossible to know unless one knows what the respective managements are planning regarding their companies remaining independent. If Chimera stays independent, then I believe Chimera by far has the best upside. If it does not, then it depends at what SHARE PRICE they would sell out to Pegasus. If it were a firesale price, then it would be much better to be in Pegasus--no question. If it were a low ball figure, but NOT something close to what it is now, then it could be a win-win for everyone. I forget which of you wrote it, but it does seem that answers to these questions may not be far off anymore. Something DOES seem to be going on right now.

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