About dilution: This is not the issue John keeps making it out to be. Simply think of TPRO as having around 24 million shares. That's what I've done from day one (around 23 million then). That's what Skip has been doing. That's what knowledgeable investors should do.
The difficulty here is not in dilution, it's in all the various godawful preferred covertible hideous warrants from hell, or whatever they are. They've always been there and it's just one of the things you live with with this investment. (John: All of that was there from the first day you invested in this company. Yes, and we're all jealous you got in for 35 cents/sh or something, and now you're bitching the loudest, LOL.) Count all of those shares in and stop worrying about dilution.
The only real new dilution has come in the form of options and the PP. I was in favor of the PP. We needed the cash fast. We suffered about a 4.3% dilution to give TPRO 5 million bucks in cash real fast. That was OK with me (although I recognized none of the big names that were supposedly involved). Then we have options. They don't seem excessive. They were granted at existing market prices, yes? John, quit talking about Jenkins and his buddies getting in at 2 1/2, will ya? That's the kind of thing that always happens in a company whose stock price takes off.
Zebra, you have to admit that granting options based on new shares provides capital for the company, yes? So it's not just pure dilution. (In fact, in TPRO's case, the book value/share goes up when options are granted at current prices.)
OK, my high horse is getting tired.
Best, Wade |
