Dr. Frankel, while I respect your perspective please be aware that Mr. Guild was given 600,000 share options. I find it inconceivable to think that any of the other new people were awarded more options than he was. Added together it is a nice sum, certainly not 30,000,000 new shares, but will only add further to the dilution in the future. Those options cannot just be exercised into shares overnight. That means whatever options were awarded will add further to the dilution down the line.
And to that the bottom line is still, from 30,000,000 shares last March to more than 90,000,000 shares and counting, 12 months later!
We will see a downward spiral until we equalize to the 40% dilution, and very probably more until cash starts to come in. The 30's might be gracious. Who knows what will happen if more money is needed to keep it afloat.
Sorry if I see things differently. But then I've got my original investment back and it's easy for me to be candid.
sword |
