Dear DWB,
With all due respect, You must be joking!!!
Also, authorization of shares does not mean they are instantly dilutive. This is the same thing that companies do before the offer stock splits. 2 for the price of 1 does not dilute your holdings, since earnings are split by the same amount.
We currently own "all" the assets of GBLX as shareholders,
and the company is not yet profitable nor will it be for
an unspecified duration. There are no positive earnings
to date and competition is increasing daily (if you've read
the recent number of entrants into this area lately). True,
as independent companies, the various entities/divisions
of GBLX could show profitability, at some point, but until
profits are a reality any shares added to the float will
just dillute the intrinsic value of current shares, IMO.
I probably wouldn't be so vocal about this if the company
were showing fantastic profits and growth, which would
warrant stock splits, but 4.5 BILLION shares is outrageous
at this point in the growth of this company, IMO.
Your argument has not convinced me, been there, done that,
bought the T-shirt. I've been involved with the high tech
industry for 17+ years and watched and invested in numerous
growth oriented companies with much success. This action
has me very concerned as it has contradictary implications,
IMO.
Just my opinion,
BB
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