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Hayward,
Here is something more to ponder over before buying HOPR. I also posted this on the other HOPR thread:
Unless I am missing something, I believe HOPR is a hyped up stock that is going to be a big loser over the next few months for the following reasons:
1) Shares outstanding are:
46,162,215 common
1,013,628 preferred Z, each convertible into 50 shares after
Sept 17, 1998
390,000 preferred D to be converted at annual
meeting into 5 sh each.
This amounts to a total of 98,793,615 common shares FULLY DILUTED!
2) At the upcoming annual meeting, the company wants to do a 10 for 1 reverse split AND increase the number of common shares allowed from 50 million to 150 million. Reverse splits are usually bad and lead to further declines in stock price.
I believe certain investors on this thread are deliberately hyping up the stock by projecting a $7 stock price. It is obvious to me that the company does not believe in that or they would not do a 10 for 1 reverse split. The only way you are going to see $7 is when ten of your 30 cent shares becomes one $3.00 share. After which it may double from there to hit $7.00. But first it will probably decline because of market disappointment with the reverse split. I personally think it is deceptive and outrageous for the company to have 1 million preferred Z shares that can each convert into 50 common shares or a total of 50 million additional common shares. This is a hidden stock dilution bomb.
The above share numbers are facts that I obtained from filings by the company on the EDGAR database, and that any of you can verify for yourself. Please limit your responses to my post to facts or rational arguments also. I challenge anyone to show me how HOPR can make the revenues and profits from their casino to justify a $700 million market cap which would be needed to justify a $7 stock price.
If you are looking for a gaming stock with potential rather than being a pipe dream, look at America's Gaming (AMGM) which only has 10 million shares outstanding fully diluted. You can find a very thorough research report written by Bill Ritger on the Westergaard Online Web site.
Ram |
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