Wednesday, March 30, 2011

Another Theory

I agree with Uall and others that Finskiy is not loaded, but he has an extremely rich pal.

To clear up a bit of misinformation about Finskiy not exercising warrants to provide working capital per the Shareholder's Agreement, he did in fact exercise almost 23 million warrants (less than half) to provide almost $7 million in working capital from July to September 2010.  Most were exercised in July and August with 1 million exercised on Sept 7 and 1,9333,333 on Sept 10.  It was almost as if if he were out of money to exercise any more, otherwise why bother with such small amounts at the end.  He could have done what everyone else with warrants does, and that is sell shares to raise cash to exercise warrants, but he didn't want to reduce his CMM holdings.

After telling the BOD he was tapped out, on Sept. 16 Century announces its first PP for $5 million.  You'd think that if Finskiy had any spare cash he'd want to participate rather than see his share of the company go down with dilution to others.  He had the right of first refusal on any PP.  Several more PP's followed in the following months and Finskiy couldn't be too happy about that.  He probably believed Peggy when she said the company was fully funded, but that was based on meeting performance benchmarks to get more funds released from Deutshe Bank. 

So he approaches his pal Prokhorov, one of the richest guys in the world to front him enough money to create a shell company, inflate its share price and use the shares as currency to takeover Century.  This led to the creation of White Tiger Gold.  The loan from Prokhorov only needed to be about $24 million (85 million shares @$0.28).  He then convinced a group of "international (read Russian) investors" to buy 24 million shares @ $1.00 (working capital to get a TSX listing).

On February 2, he repays his debt by transferring 25 million shares and 25.5 million warrants to Prokhorov in a Sedar transaction described as 97-Other.

Plausible or completely off the wall?

8 comments:

ATInsider said...

Interesting, I wouldn't be surprised if you were dead on. Good Read Carib...

Cocoablini said...

I think Fininskiy is busted. He has no cash. So he would need a cash player- but like most of these scamsters he wants a sure thing.
Frontrun the news.
Shake out the weak players.
Offer a trash asset for a real asset to convert to a legit company. Sort of like Michael Corleone trying to leave the mafia.
Even if CMM drops to a dime, its better than zero( read WTG) and Fininsky wins.
Deal goes bad, Fininsky can swim in his own feces(WTG) and go down as a classic ponzi.
In fact, Fininskiy is so DUMB, he doesn't have a fake website, a reasonably fake resource, a good media spokesperson, a good board troller and a good OFFER.
He can have my shares for $1 cash- but he better hurty up because he is hacking me off so much I may hold out for 2 just to ruin the criminal...

GoldBandit said...

It's a good theory. Entirely possible. He may have thought that getting Lamaque up and producing profitably without exercising as many warrants as he did. Once it was clear it was going to take all his warrants he cooked the wretched plan we are all experiencing now. So, what I would like to know now is will Fair For All and the committee actually get to talk to MF. If so, there may actually be some hope.....

PayDay said...

The jig is up after April 30, when all of the WTG locked shares get unlocked.

It will be interesting to watch what happens then.

Can Finisky continue to prop up the price with the other 25,000,000 shares open for trading. How much does he trust his "inside" group of investors?

Wingfong said...

Cocoablini.."..Fininsky is so DUMB, he doesn't have a fake wedsite, a reasonable fake resource, a good media spokesperson, a good board troller and a good OFFER"..well said..frankly, after seeing the deal he offers n what his men have done so far i am begining to have doubt in his total capability in spite of all the mist n cloaks the market put around him.

Wingfong said...

Initially it was thought that he, Fin, was loaded n somewhat bloated with power. Now we suspect that he may not be loaded at all n his total capability is suspect. It also seems to hint that he is a desperato caught between a rock n a hard place n the plan hatched by him is never well thought out hence hollow n valueless. Further, what all his men, particularly his No One(his trusted men?) have done so far are deemed to be low grade desperate acts that have only served to cast doubts, suspicions n disbelief among investors. Is it possible that we are dealing with a second rate adventurer/schemer? With 25million WTG shares possibly crashing out of the gate come 30th April/1st May, I have a feeling one miss step he may be financially ruined to his core.

Gold1 said...

The re-creation by Carib and others would help explain the mystery of why DM was so very nervous answering CC questions.

Ron S. said...

Thanks Carib, this is a new outlook for me.

Enjoyed reading all these.
I have felt like $2 for quite a while Cocoablini, it is fair.

Agree Gold1.
Methinks there is a chance he may become even nervouser in fact, that waskily wabbit.