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Gold/Mining/Energy : Adamas Resources (V.AMS)
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To: Sawdusty who wrote (1289)11/8/1997 3:00:00 PM
From: Rook  Read Replies (1) of 2015
 
Dan, you are being unfair, I've been responding to two people so your posts are coming out twice the speed of mine! :)

Here are my responses to your earlier post:

D: " Something to be considered by everyone is the fact that the stock closed at .22 on Friday 20% below the average price of the options. "

Something also to be considered is the average price of the stock on the days they issued themselves these options. It was much higher than 28 cents! The fact that the current price is below their average option price doesn't mean that the options were set at reasonable prices, it just means they have been incompetent in addition to being "blue ribbon pigs".

D: "My point is that we are all free (if we wish and have the balls) to buy stock at a price below the average for the options. If we do not make money, then they do not make money."

Yes, but we lose money and they don't by simply not exercising their options. In fact, they still make money from the generous salaries and other perks they have awarded themselves.

D:"Of course they could start re-pricing the options and playing other games but I have seen no indication of that to this point."

???!!! Most companies set an option price at the beginning of their year and they stick by it. The management of AMS, on the other hand continuously takes advantage of the drops in price. If this doesn't shake your trust in them, I don't know what will.

D:"After much serious thought I felt that I could get in at .32 and make money. I still think that will happen, however I (to take a quote from Rook) could be dead wrong.

I never said you were dead wrong about the price of the stock going up. I only said you were dead wrong when dismissing AMS's actions as typical.

D:"I do not think that it is beneficial to dwell on some of the negative aspects..."

And I do not think it is beneficial to be taken advantage of. It's called being a chump. And this is precisely what we are if we do not speak up when management does not act in the best interests of shareholders.

D:"I am not so sure that the problem rests with AMS, more likely the exchange rules that allow these things to happen."

I am looking forward to seeing if the exchange will allow those things to happen. I'm not willing to assume that they do. AMS wouldn't be the first company found guilty of breaking the rules.

(And if these are the rules then we all better leave this game! Especially with these players!)
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