Ah, OK, Steve!
The share count is all guesswork, based on conjecture. Look at it this way, though...
We started after the reverse split with ~2.5 million shares and a share price of .80 as I recall. The last share count that OFW got from the transfer agent was around three weeks ago, and was near 4.5 million shares when share price was near .40.
In three weeks, the share price for OLEX has dropped around 50% on heavy volume. It doesn't take a Sherlock to deduce that more of the debentures have been converted.
Here's the guesswork: The last two debentures that I recall were relatively small...around $650,000 and $125,000. At at 20% discount on the stock that means the $650k deb was worth roughly 2.5 million shares (650,000/average share price of .25), and the $125k worth around a measly 625,000 new shares (125,000/share price of .20).
So, after deduction and guesswork, I see around 7.5 million shares out right now, with the outside limit being 10 million for my lousy math skills.
So, while I have no facts on hand, I do know the track record of this company, and can smell its spoor. Do you think I am being unfair?
Tell you what...I'll go through the thread here and find the phone number for the TA, and call him/her on Monday. I'll then post the current share count, and we'll see if I was in the ballpark. What do you want if I am wrong? What do I get if I am right?
Whatever, it's a long road back up for this stock.
Cheers!
Rick |
