Charlie, thanks for the link.
But I disagree with your assessment completely.
<<The Company priced the unregistered shares at a 15% discount to the 60-day average of its closing sale prices for the period
ended Jan. 5, 2000, the day before the purchase agreement was signed and the Board of Directors approved the transaction.
The sale closed today. >>
It's a 2 edged sword. Dilution, sure but the alleviation of this ball and chain is gone---PCMS can move foward now with speed and focus in a space in the communications sector that, without question, is white hot. Yes, the institutions participating are making out like bandidts but they stepped up to the plate NOW, I repeat, NOW ---I guess its called capitalism. My point is what difference will it make 6 months, a year, 2 years from now when PCMS's suite of offerings are as ubiquitous outside the US as fixed line is now in the US?
Lastly, these guys who got the shares---albeit at this " humongous "
15% discount: what in the world were they thinking? Probably what most of us were thinking when we bought in at $5 thru $9 when the rest of the world believed PCMS had nothing more to say.
Respecfully,
L |
