For those of you who think GMC need to get approval for share placement they already have it.
They did a placement for 70mil shares @ 1.5 plus a 2 for 1 options deal. so ultimately they Can Place 295,000,000 more shares. Now at the 25% discount of 4.2 -25% = 3.15c OR if it goes by the previous couple of days possibly 3.2 - 25% = 2.4c
295mil x 3.15c = 9,292500 MILLION.
This is my guestimate.
Or the lesser..
295mil x 2.4c = 7,080,000 MILLION.
The more I see now the clearer it becomes.
Lets just get some drunken bum in the ghetto of Indonesia.. pull him out of the ghetto, clean him up , wined and dined .. make him look all important take some happy snaps and pay him SFA to fit the requirements.. sell the Share Holders some bullshit to apese there emotional side..(thats heart thinking) and lock them in..
Raise the price based on more bullshit and then do a placement at -25% of the current SP.
Its not bad.. but sounds more like a swindle then legitimate business.
I told my Dad about this in January, the first words that came out of his mouth were.. It sounds like bullshit.
He was Right..
That said the Placement which has been approved will now give them the money they need at the placement price they have to get them the capital to actually get this thing off the ground.
DAF. IMO DYOR
