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SLA - SILK LASER AUSTRALIA LIMITED


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In reply to: 29101971 on Wednesday 14/01/09 08:53am

Hi 29+,

 

1.could ANZ draw this thing out for years --- they have the funds for it.....??????

 

That is a question I would love to know

 

2. IF ,IF a settlement is reached Solamind may find greater peace of mind pocketing the cash and looking for SAFER alternative investments in this climate ????? ... the trophy chick market supposedly has been hammered and that could be appealing at this stage....

 

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QUOTE (1basil @ Wednesday 14/01/09 10:31am)

Hey 1B, to answer your questions:

 

1. ANZ (or even Solamind if they continue through court) could drag litigation on for 3-5 years. As you may know, the banks (inc ML who were hamstrung last time due to BoA issues) have re-entered into mediation. It seems to me they want this settled before the cases start in March. Dragging it out thru discovery phase is a massive reputational risk (esp for ANZ and Mike Smith) they cannot afford to take. Coughing up around $500m (which has been provisioned) will be much easier and wiser.

 

2. I may be reading this wrong, but given the buying we saw thru 07, I would put my house on Solamind reclaiming their lost stake (should the banks make an offer and Solamind accept it) before all they have worked for (volume sales) comes to fruition. With the entitlement apparently becoming filled fast, buying on-market seems the only alternative now available to them.

 

PS. It's funny you should mention trophy-chicks. I got an email overnight from a 24 y/o Tatyana from St Petersberg titled "I want to have relations with you".

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In reply to: 29101971 on Wednesday 14/01/09 09:45am

QUOTE
I got an email overnight from a 24 y/o Tatyana from St Petersberg titled "I want to have relations with you"

We should go on a double date, I received one of those emails from a lovely lady called Oksana, lol.

 

 

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In reply to: diana on Wednesday 14/01/09 09:26am

Hehe - me too Diana! But I was using it to illustrate a point.

 

I've been a poker professional for over 3 years now, and I tend to think of everything in life as positive or negative expectation. I don't worry about whether a single event makes money here and now. I try to judge whether it will make money if I did it a million times.

 

Give me a coin flip getting 1.2/1 and I will put a lot of money on it!

 

 

 

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In reply to: 1basil on Wednesday 14/01/09 09:31am

Regarding Solamind I was under the impression that the Scientists were given a new issue of shares ( re AGM) and that any money returned from ANZ would be used to purchase a tranche of SLA Options set aside that would be left to expire, unpaid. ?

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In reply to: Lucky Mojo on Wednesday 14/01/09 12:17pm

A total of 28m shares was granted to Solalife. There is nothing to be paid on these but they are held in escrow until the following share price events (on three consecutive closes):

$0.80 - 10m

$1.20 - 10m

$1.60 - 8m

 

Vagif and Dennis were granted 50c options (expiring Nov 2011) - 6m and 4m, respectively.

 

One might argue that these grants (totalling 38m shares) cover what they (Solamind) collectively lost via Opes (about 40m shares I believe) but since then we have seen our fully diluted capital go from about 200m to 300m shares (including the current entitlement). So even after these grants, Solamind still have only about a 12.7% share of the Co, as opposed to 20% prior to the Opes collapse. To return themselves to that 20% holding, they need another 22m shares (to get to 60m).

 

The turn-over on the heads for the last full month (December) was only about 1.8m shares.

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