When have I made a promise to you, and then broken it?
I agree that you and the others have been big supporters of Tracer over the months/years - you get no argument from me on this.
Now, you obviously feel that another consolidation is "unacceptable", but do you think that it is more acceptable to lose the NASDAQ listing? It was not my plan or intention when I became involved with Tracer to have to pursue a consolidation - in fact, Ed Mowatt can confirm that I probably worked harder than anyone back in February to try to get the price up over $1, and avert a delisting from NASDAQ.
However, the reality is that there is now a real risk of losing the NASDAQ listing, and because we have gone through this before, if we simply try to push the price up over $1 through buying up the stock, the "pros" (i.e. short sellers, traders, etc.) will work against us, and take advantage of the predicament to sell into our buying. This will make it very difficult, and expensive, to try to maintain the listing that way.
To me, the most prudent thing to do would be to complete the consolidation, reaffirm the NASDAQ listing, and then do a rights offering to help to make the shareholders at least somewhat "whole" again. Simply hoping for enough good news, and enough buying power, is just too risky a route to go - especially when you look around and see how the junior international oil stocks continue to lag the market. If you do not take this all into consideration, then you are being the "short-sighted" one.
DRR |
