BTW, anybody follow AURL?
I have been; quite closely. My average price is 0.65, but started at 1 3/8 (which goes to show averaging down CAN work--William O'Neil, eat my shorts).
There is quite a bit of complication around this stock, as the chip (Vortex 2--for 3D positional sound) is selling well, but there is a ton of outstanding convertible stock which has a conversion rate inversely related to the price of the stock. Thus, the lower the price of the stock, the more shares the convertible would be worth (and convertible holder could short the stock down for this purpose). Anyway, all the haze goes away soon as the last day to convert is in April.
There have been two 13A/D filings on Edgar in the last two days--can't quite figure out what is happening, but my guess is most of the shares are accounted for now, for better or worse. There is a huge potential for earnings dilution after the conversion. AURL even issued a proxy to vote more shares for that very reason. . .
Check out the AURL thread, which is about as thinly posted as the stock is (normally) traded. . .
Steve |
