Right now we have 45M shares outstanding which is a lot---but the
question is why were these shares issued. Without straight answers
from Ira, I am assuming a large part is for the buyouts of all these
small temp firms he is aquiring (2 in the past 2 weeks, 1 before
that) Some might be to the MD show.. I dont know. None is for Myriad
I assume. Some to the Italy connection? I dont know. Personally, I
dont like the fact the shares never seem to stop going up. But that
is the case with this company for better or worse.
Currently, it seems we have 15M shares in the float.. that is also a
lot to move, especially for a BB stock.
IMO, I think this reverse merger with ATXI will be very helpful not
only for the NASDAQ listing but for the float issue. Here is why
numerically.
I am going to use 3 examples,
the 4:1 conversion
the 3:1 conversion
the 2.5:1 conversion
SHARES TOTAL FLOAT
Current 45.0M 15.0M
2.5:1 Conversion 18.0M 6.0M
3.0:1 Conversion 15.0M 5.0M
4.0:1 Conversion 11.2M 3.8M
So in the "best" case scenario of 2.5:1 Conversion our float goes from
15.0M to 6.0M, which should make it a lot easier for things to get
flowing in terms of stock price.
If it is the "worst" case scenario of 4:1 Conversion in a way it is an
advantage because then the float dries up to only 3.8M.. which when
FAMH hits NASDAQ and more people are willing to look at it as a
viable investment (vs. here on OTC-BB) then the laws of supply and
demand really kick in.
From reading the board and how many people have "friends" who wont
touch FAMH until financials come out, I wish Ira would just throw out
the 1997 financials to the public to appease those people.
Personally, 1997 financials dont mean diddly because like Ive stated
many times..4 months after 12/31/1997 this is a totally different
company. But it is sapping some people's confidence, and dissuading
others from investing into FAMH-- so in those regards I wish he would
just give them out to the public. But since he hasnt at this point,
Im almost starting to think like Buckeye that if you dont see them
right after the ATXI announcement, we will never see them (as an
entity known as FAMH).
Mark |
