"I think Doug has a personal relationship with some of the creditors where he felt obligated to bail them out and also to preserve access to capital after the bankruptcy filing before the end of the year."
"Even if it meant authorizing 750,000,000 shares and allowing the creditors to convert at 2-3 cents it still allows them to get back their investment and gives Doug a source of capital after the chapter 13 filing."
Just a thought!!!
"This might be of interest to you."
"Rumor is that substantial cash investments will be coming into the company from China."
"gives Doug a source of capital after the chapter 13 filing."
No investor in his right mind would give MacLellan any cash now or in the future which is why all the lenders are bailing out as a fast as they can. The fact is that there is nothing Radient has that can produce a return on investment as has been the case for over 10 years. When Radient closes the doors...MacLellan is finished as a CEO everywhere and forever after.
2-3 cents is just a mathematic number, if they sell all share, just me it will be much less than 0.001, what I meant is if creditor accept this offer, it must have sort of expectation for future value, if this company has no plan, creditor won't take it ,,who will buy more stock if all creditors are selling,, calm down and hold the share and live ...
"You can't blame Doug for wanting to protect his annual compensation which is in excess of $1,000,000!!!"
"Let's face it having a gig that pays you that well for generating $85,000,000 in losses on less than $250,000 in revenues is not a gig that is easy to find."