Phil,
Any idea on when the Shares of TACT will be issued to Tridex shareholders?
I'm a little confused as to what this all means to Tridex shareholders. According to the 3rd Qtr report, Tridex CO, currently owns 80.3% (5,400,000) shares of TACT, and plans on distribute them to Tridex Shareholders. As of 9/28, there were only 4,234,00 shares of Tridex outstanding. My guess is, this would mean Tridex share holders would get approx 5 shares of TACT for every 4 shares of TRDX. With TACT closing just under $14 today, and Tridex just under $16, this would be close to a 100% return on TRDX shares.
Am I missing something? I realize there will most likely be a sell off of Tridex once this distribution occurs, but shouldn't the stock price of TACT already have the dilution already figured into it? Unless TRDX shares drop to 0 after the Distribution, (which by far impossible), TRDX must still be far undervalued.
Thanks in advance for straightening me out.
David |
