Global Gaming Factory X (GGF) stockholders have approved the company's decision to purchase the torrent tracker The Pirate Bay today, a non-surprising event given the fact that CEO Hans Pandeya owns the majority of the shares.
The buy price is 60 million Swedish kronor ($8.2 million USD) but questions still linger as to where the money will come from, and whether the stock will be delisted if the acquisition does go through. Trading in the company's shares have been halted since August 21st. The stock exchange recently said that "GGF lacks the ability to inform its stockholders in a correct, relevant and credible way" as to the acquisition and therefore "cannot be allowed to be traded."
Pandeya says the financing for the deal is secure however, although a few of the original investors did leave the venture to avoid all the media attention.
There is also questions as to whether the new legal Pirate Bay can actually work. Let's see if the acquisition goes smoothly first.
Pandeya says the financing for the deal is secure however, although a few of the original investors did leave the venture to avoid all the media attention.
There is also questions as to whether the new legal Pirate Bay can actually work. Let's see if the acquisition goes smoothly first.
