The value of our stock went up $1.15!!!
From the PR today:
Kensington still owns 265,328 shares of PowerSource directly and 242,714 shares indirectly plus 150,000 Class ''A'' Warrants, convertible at ten cents ($.10) for four years, and 5,350 shares of Series ''A'' Convertible Preferred stock. The value of these shares of stock, warrants and convertible preferred shares are not reflected on Kensington's balance sheets. If Kensington's ownership in PowerSource were reflected on its balance sheets and if PowerSource's share price remained at $5.37, and there is no assurance of that, over $4,000,000 dollars in value would be added to Kensington's balance sheet. This estimated $4,000,000 would add approximately $1.15 of new book value to each share of stock owned by a Kensington shareholder.
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The spread was as big as 5/8 by 2 1/4 last month. I tried selling at 1 1/4 and then they would drop the ask by 1/4 or so.
I liked the news today, people will start to notice this stock. BTW I tried getting more when I found out the ask was 3/8, but the ask raised quickly to 5/8 when I called to buy. Congratulations to the lucky buyer at 3/8 today.
Mike |
