You dont get it share dilution eats into profits witch also eats into BOOK VALUE
As of June 3, 1996 , 49,661,919 = .66 book value
As of September 30, 1996, 57,401,786 = .57 book value
As of December 31, 1996, 60,978,569 = .58 book value
As of June 3, 1996, 61,567,019 = .57 book value
As of June 30, 1997, 67,180,269 = .53 book value
As of September 30, 1997, 68,703,269 = .53 book value
As of December 31, 1997, 68,703,269 = .53 book value
As of March 31, 1998, 72,905,669 = .50 book value
Does it concern you that this stock has lost 16 cents a share in book value in less than 2 years plus on top of it it eats into profits the extra shares that pop out. Thats why I base my projections on price to earnings bases book value means nothing theres 250 million shares out there that does not mean they will hit the market but just think about what if they did. Add Website start up costs and potential advertising expenses and this trend may continue.
This is IMHO if I figered share value out wrong Im sorry but I feel I did it right
David
Im still looking into Plan 144s from last year to see if the management filed or not to sell those shares |
