posted
I think I understood a while back that they were borrowing against a giant bond. I heard him when he said they converted it to cash, but if I converted the equity in my house to cash. I would in effect be borrowing it. right?
They don't know the slightest thing about finances. This is what has happened.
They had $500m which they used to buy a bond with that pays 13% annually. Instead of cashing the bond in forfeiting the $500m, they instead use it as collateral to borrow cash at a lower rate. They use this cash to fund the sudsidaries. People can;t get this through their darn heads.
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They said they were waiting on the DTC for the next move in the total transaction. Originally they were told it could take three days. They said tonight it might take longer.
quote:Originally posted by fryyguyy: This is from HSM on the bond.
About the $500m loan
God darn it the people at paltalk piss me off.
They don't know the slightest thing about finances. This is what has happened.
They had $500m which they used to buy a bond with that pays 13% annually. Instead of cashing the bond in forfeiting the $500m, they instead use it as collateral to borrow cash at a lower rate. They use this cash to fund the sudsidaries. People can;t get this through their darn heads.
quote:Originally posted by TaxBack04: They said they were waiting on the DTC for the next move in the total transaction. Originally they were told it could take three days. They said tonight it might take longer.
posted
One thing I know is that I am in this until completion. Unless I see this totally fall apart. At times I'll get frustrated wishing the pps was going up everyday. I am already up so I can afford to watch this for now. And what about the short position I know someone posted a number of 16million shorts? For arguments sake what could that do to the pps if this resets at 15 and they are forced to cover. I can't imagine what the pps will go to.
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It will skyrocket when the reported 6 million have to cover alone. The other ten million unreported estimation will make it 6 or 7 times book value easy.
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If you throw PR's new contracts, Additional assets on their books. This is going to be a huge cash cow for us all.
I just added a second set of vice grips to my slips. Feeling very good at this point. Should be more movement tomorrow, I think PalTalkers are trying to scare themselves out of their shares, and doing a good job of it.
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TIA EVERYONE...
