>>At the top of this thread, Cheryl indicates that Insiders own 13/20's = 65% of the stock. Now, with a float of 40 million, insiders own 13/40's = 32.5% of the stock, unless they have given themselves (free?) stock.<<
Lurker, where did you get the 40MM figure from?
And is this before or after taxes? (:>)
In any case, try to be a bit more accurate. Even if there are 40MM shares, the float is assuredly much smaller. However, you make a good point. They are issuing paper rapidly and have now nearly doubled the shares outstanding from the start of this thread (in just 3 months!!). If they do the same this year, there will by over 70MM shares by year end. The stock has already seen a tremendous dilution and there is no reason to believe it will not get worse with the 25MM line of credit!
I ask you all on the thread in light of this statement from the thread opener in Nov. 97, just a few months ago, if the company is to be trusted:
>>The company has indicated that they have NO intention at this time of increasing the total outstanding shares. And they said they do not currently see any need to do this in the future. <<
Ah, well, so much for INTENTIONS. Or the lack of them. Remember, 25MM dollars at .25/share equals exactly 100MM shares!! |
