Mohan
Do you really think Mr Jacobs has to go to school? I am of the opinion that he is extremely qualified to lead this company. He has the experience and leadership. The key to Benton's success, in my opinion, is when you state that they were trading at 2.00 per share. It is my belief that if Tracer were trading at this price, we would have seen a couple of deals consummated by Mr. Jacobs. All deals will require money. If Tracer were to consummate a deal, and had to raise money at .25 a share, we would end up like XCL, and have millions of shares outstanding! I believe they are trying to fund a deal, and protect the existing shareholders from excessive dilution. This calls for extremely difficult financing, but it is good to see a company looking out for the interests of existing shareholders. They have been very close, but so far they have not put the deal together. There is, I understand, a few deals still in the works, and close to completion.
Just do the math, and figure out the difference of shares outstanding raising money at .25, or at .75. The difference goes into our pockets!! I believe any deal, especially if they can consummate it using existing cash, will propel the price upward. The first deal is the toughest, and the following deals will be much easier. This is why Mr Jacobs is adament about protecting shareholders. I, myself, commend him for it. Don't get me wrong, I would like to see a deal tomorrow. But, I also want to see the right deal. Look at XCL. They hit a well producing 15,000 bopd, and the stock skyrocketed to a whopping 75 cents! This is because of the outstanding shares. Lets wait and get the right deal. Mr Jacobs has the experience and connections to get the job done! He has my support!
BTW,the Wall Street Transcript has done another interview with Mr Jacobs. It was released a couple of weeks ago. I have not yet seen it, but I understand it is a very interesting read. If this publication, which as we all know is very high powered, believes in him, he certainly has my support!!!
Pete |
