That Chang is better off seperating himself completly from Dr. K, Dr. S and Viaspace?
Sure he could walk away with the rights to GKG through VGE and take those shares which he has to file a 1099 pay taxes etc, and then operate the IPA business/GKG business on his own, which if you recall was nothing before VSPC came into the picture. As much as some want to dis Dr. K for all his conferences and presentations, that really did get GKG on the map worldwide and companies interested in doing business with Viaspace and Dr. K NOT CHANG! Chang may think he can have his cake and eat it too, but he'll just go back to his roots that was barely feeding his family & it sounds like he has a large one to feed. If he breaks his ties with Dr. K/VSPC he looses business!!! Dr. K his a very smart man, VSPC will continue, if he has to change the model slightly and find a different fuel/alternative to GKG I'm confident he can do it. If your panicking like some posters on this "special place board" want you too and unloading, I think it's premature. Dr. S. would not invest so much if he didn't believe there was something to this company VSPC. He's clearly said he's ready to cut ties with chang if that's what it takes and continue with VSPC and in my opinion he'll make it happen.
Goodluck to all, it's not like we haven't been waiting patiently let's just be patient a little more.
Do you really think GKG is all they claim? I bet Chang doesn't pursue even half of what Dr. K did, but if he did, the plan always was to have other companies secure financing, supply the land, etc.
VSPC was really just going to collect royalties. How can Chang not do that without VSPC?
The Form 1099 doesn't mean Chang will owe taxes, in fact at $2.00 per share, he may owe nothing because of the transfer. If I'm not mistaken, the IPO was priced at $3, and the actual tax purpose is for VSPC. Chalk up another $15 million in the loss column!
Also, why would Chang share 75% of IPA revenues with VSPC? Last year that was nearly $5 million.
The negotiations are done, but the bagholders hold out hope!