Re: Boland/West Gate

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hondobud

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Re: Boland/West Gate

in response to

Boland/West Gate

kbecker

posted on Jul 21, 2010 12:12PM

http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20060502/RDECLOET02

"Most investors think risk is a four-letter word. For Greg Boland, it's a beautiful thing.

Bankruptcy plays don't faze him. Accounting scandal? The messier, the better. Hated companies, orphaned stocks that everyone else has given up on -- he's all for them. He is the investing world's equivalent of a guy who enjoys car wrecks."

http://www.secinfo.com/drjtj.r1d6.htm#1stPage

Item 4(a)

Amount Beneficially Owned:

This amount consists of: (A) 18,000,000 Shares held for the account of WFGM; (B) 1,062,750 Shares held for the account of WFMF; (C) 658,000 Shares held for the account of WFLP; and (D) 213,000 Shares held for the account of WFCLP.

Item 4(b)

Percent of Class:

The number of Shares of which each of West Face and Mr. Boland may be deemed to be the beneficial owner constitutes approximately 5.2% of the total number of Shares outstanding (based upon information provided by the Issuer, there were 294,817,179 shares outstanding as of June 18, 2010. Reporting Persons understand that as of June 30, 2010, the Issuer issued an additional 70,000,000 Shares. Pursuant to Rule 13d-3(d)(1)(i)(D), in calculating the percentages of beneficial ownership Reporting Persons have added 7,933,750 Shares to the number of Shares outstanding based upon an amount of Shares that the Reporting Persons may be entitled to obtain upon the exercise of certain warrants.

KB.......... I am not sure on this but it reads like the warants are mentioned only to calculate the percentage of ownership for the 13G filing. I am not sure if Boland / West Face actually has warrants to exercise? Purchase not part of the bought deal offering?

5% is the threshold for the 13G?

IMO Boland sounds like an opportunistic fund manager and he thinks he will make money here.