Harry,
How will the increase float effect your TA on LCAV? The float is currently about 1,350,694 out of 19,599,231 outstanding shares. With the 7,300,000 new shares going to Summitt and the 9,700,000 new shares going to Summitt's shareholders the float will increase significantly.
If my calculations are correct, about 11,050,694 (30%) shares will be held by individual investors, 7,300,000 (20%) shares will be held by Summitt, and about 18,248,537 (50%) will be held by insiders of LCA. A big difference from the current float of1,350,684 (7%) shares.
I've always felt that the thin float in the past made TA more questionable. I would think that the increase float would make TA more reliable. Note, I don't know much about TA. Also what effect do you think the initial increase in float will have on share price.
I'm thinking that there may be a opportunity to make some money with this company over the short term in the near future. What do you think? I am not interested in tying up money long term at this point.
Cisco |
