A classic.
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Posted by: wavxmaster
In reply to: None Date:4/25/2007 9:25:27 PM
Post #of 142996
Sometimes I think back when to 1998 and 2000 and I remember there only being 45 - 50 million shares. 7 years ago! We also had $122 million PP with 3.4 million shares priced @ $34 per share in 2000! That still was the highlight of Waves' management! That was a blessing, perhaps not for those investors, but for the shareholders and especially for management! $122 million, Hallelujah! Perhaps some nice bonuses and what the heck, throw a few loans out to the boys!
Years of PP's, Warrants, stock options, bonuses, loans, mistakes, ect and finally we had a shareprice of $.50, and 120 million shares, and no money!
Then we have to suffer thru a Reverse Split and are told that with a lower float there is opportunity to not only stay on Nasdaq, but when revenues start they will be based on 42 million shares! Earnings per share, the numbers will go to the bottom line!
6 months later we are heading back down that fruitful road, well fruitful for some. 21.5 million for the ESOP, Another PP coming up in perhaps 6 weeks! Hey shareholders, we're doing better, no warrants! Shareholders celebrate as they aren't diluted as severely as they had been used to! What will it be this time, a quarters worth 2 million shares, or maybe till hopefully B/E let's say 4 million more shares!
Don't worry, we can issue up to 150 million! We need 21.5 for the ESOP, perhaps 500,000 at a time for some, yippee!!. Don't worry, we don't have to pay for them unless they go up, then we can just sell them anyways! We can also buy them at a 15% discount in the Employees share plan, there will be enough for all, employees, management, BOD, new employees ect.! Perhaps we should take cash bonuses and stock options, just in case the shareprice doesn't move up or even go down!! We can just issue more shares, sell to the institutions for cash and there are still plenty for us!
Let's give some to the BOD, there are plenty to go around, perhaps will sell some ETS upgrades soon!
Well, soon "we" will be back at 100 million shares! Who are we! The shareholders/owners, management only owns options. OK, some on the BOD own few shares! Many here own more than them all put together!
Meanwhile the shareholders have been dilutued, split and made unfulfilled promises!
I still haven't made up my mind! Time for another drink! |
