BBX 0.00% 24.0¢ bbx minerals limited

Don't expect Midnight26 to answer arguements. As soon as the...

  1. 11,185 Posts.
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    Don't expect Midnight26 to answer arguements. As soon as the going gets tough the tough get going so to speak.

    His #1 goal is to keep the thread title he created 5 months ago in Oct 2018 going so if anyone happens to call by the thread they immediately get hooked. Got to say he is doing a good job of that.

    Maybe investors should be asking for more clarity from the company after 5 months and a new thread title should be started entitled "Why did Drake leave the share register?". Better still why doesn't Midnight26 get on the blower for an explanation. Every time I would bring up questions here in the past people would tell me to ring the company for the answers.

    I think the company needs to give an answer to this question because after all Drake were the cornerstone investors and according to the information supplied by @Nodferatu NPT retain exclusive legal control of the shares now and their policy is to liquidate the stock and converted it into Donor Advised Funds DAFs. It seems like that is the model. Companies/people donate stock, collect an immediate tax deduction, then NPT sell the donated stock and put the funds into Doner Advised Funds where income in the fund is tax exempt and the funds are intended for charitable purposes only. Where a company's donated stock is illiquid (thinly traded) or restricted NPT must first approve it then it is sold "as soon as practicable".

    If this information is correct NPT will become sellers as soon as practicable. A worrying situation for shareholders IMHO that needs to be clarified/addressed by managment.Esh
    Last edited by eshmun: 23/02/19
 
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