I think your post..posts...are quite accurate......I am a holder and a very concerned holder....Even though i spoke with Chris today, i did not come away with the all is rosey attitude.....He did a very good job, but it seems to me that the story changes on a weekly basis.....
I was under the impression that company would not do any financing at these levels.....Chris informs me that if the right financing came along (That being someone who would be willing to hold the stock for 6 months or so) that they would do the financing.......
They are in talks as we speak, according to chris....He tells me that, upon financing getting completed the monies would go towards A)making the web site better b) acquisition c)advertising and working capital.......He said he didnt expect any to go towards the stock...I dont blame them on this point, in fact that is how they should react....My only problem is that up until now, a buy back was talked about.....
As for the additional shares that were issued, he said he would get me a breakdown, but was unable to give that to me at this time....hmmm.....Said that approx. $450,000 was raised at levels between $0.45 cents and $0.90 cents.....so at an average of say $0.60 per share that would account for the issuance of 750,000 shares....That leaves about 6,250,000 that were issued for software and other business related items......He reemphasized that management still had control....hmmm....If their were only 4,500,000 before the issuance and 750,000 for financing....for a total of 5,250,000 and their are 11,000,000 outstanding.....The only way he could still have control was that he issued shares to his (so called) friends who are dumping it into our faces........Yes, it makes me wonder......
I think everyone agrees that the company has potential....huge potential.....but their answers to the share issuances and PR hiring leave a lot to be desired.......A $0.40 cent stock will cure alot of the blues.......just have to wait and see.....
In closing......The company knows who is selling....They issued the shares for c..... sakes.....Hopefully they will talk to the seller and ask him to lay off for a while and let the stock breath so that people can get excited that every move isnt met with selling...
mike |
