Scott,
I understand that, but when you look at this company, the only way they can hope realisticly to get things under control, is by getting a handle on high cost debt. If they can succeed in doing this with the help of a bank and a public offering, I would consider this to be good news. I bought this stock on that premise: they have the gross revenue; they have the products, and some innovative angles to go along with it, straighten out the financing and we should have a winner. As the banks commitment should greatly reduce the cost of the debt, it would appear they are at least halfway there. Sounds reasonable to me, yet the market seems to disagree.
At the end of FY'96 there were about 45M shares. This would give us a marketcap of 13.5 Million at current prices. Annual sales about 100M
Looks to me that dilution is not that serious a problem.
I know everyone here is aware of these figures, I think I am just riming them off to justify to myself why I bought in to this, It still makes sense.
All the best, Robert
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