>>JTS does not have a management team with a history of issuing misleading statements and press releases, or one that continues to issue more and more shares causing massive dilution.<<
I agree with you, these are two very different sets of circumstances, but I'd beg to differ with you on these counts.
It isn't that long ago that we were reading press releases about how rapidly JTS would be growing sales and earnings. I wouldn't use the word misleading to describe what they were, because it suggests that there would have been a deliberate deception. However, those statements were, very clearly we can now say, albeit with the benefit of hindsight, "misleading" exaggerations of JTS's strength in the market. And I, for one--blame me--believed them. They've gotten A LOT better on this count in that they're cautious with the big predictions, but I'm still haunted . . . (I bought my first 1,000 shares at a little over 4.5)
It wasn't that long ago, either, that JTS was reissuing substantial amounts of shares, if I remember correctly . . . . And, I'm no accountant, but isn't there more dilution going on with the offering of these preferred shares? Granted, I'd rather see them get the capital they need to survive than avoid any dilution of shares. |
