Razor: First, I do not have the same opinion that you have on Holstein and company. In my book, TA was the culprit and Holstein actually saved Arakis from bankrupcy, sure, in order to do that, he had to go the Reg S route and dilute the stock by a factor of 3. If you would have been here and on AOL last year, I warned every one that the stock will dunk under 2 (I was the $2 man then), well, it got pretty close to my call, and my call was related to the REG S and the need to share the goodies with others if stockholders were to recover anything from their Arakis investment. I was also the guy that shouted BUY, BUY, BUY at 2.5 and do not wait for sub 2 stock. I also shouted Sell on the day of the JV announcement, which turned out to be a pretty good call now that we are almost at half that price.
So, do I believe Holstein and company? I have no reasons no to believe them. Of course, I try and obtain confirmation by other means as well. I feel pretty secure with the estimate of 150 MM in the ground, if it goes to 300 MM, it is gravy.
Zeev |
