NovaWest grants options Bill: I'm sure you've already seen the release.
NovaWest Resources Inc NVE
Shares issued 13,294,849 May 12 close $0.30
Thu 13 May 99
Mr. Patrick O'Brien reports
The company has granted directors and employees of the company incentive
stock options to purchase a total of 110,000 shares of the company at a
price of 26 cents per share (being the average closing price for the
previous ten days of trading) for a period of five years, ending May 13,
2004.
I emailed Pat, to suggest its time to start getting value back to the shareholders and quit diluting the stock with options. When I purchased Homestead years ago, we had 9-10 million out at .40. Now we're at 13+ million at .28-30. Just doesn't make sense with the projects, and potential of an NVE. Hell, I'll write a check for $28,000 for 110,000 options at this price too. Double the price of the stock, (No brainer from .30 cents) write a check, and blow out the options, to ride free.........sounds like a deal to me. Never thought I'd see prices below where I bought International Homestad 4 years ago, and Pat assured me that things are in the pipe to get this stock back on track (and I DO believe him by the way), but perhaps its time for the shareholding public to put a little heat (constructivley and diplomatically) on management to get back to Managing, and get away from the option generating machine that gives the look of a typical VSE stock. Time to start letting the stock run, and quit artificially holding it back. I find it a tad unusual,(and too obvious perhaps) that the ask goes back to .49 the day after options come out at .26, when we've been locked into .20-28 cents for weeks. I may be VERY wrong here.....and I'm the first to bite the bullet and apologize to Pat if I am, but it just looks contrived from the outside looking in. I figured NVE was above this. Hope I'm still right. Still a believer, but not as confident as I once was, that's for sure. Lets see what the stock does, when the right offering comes out, which is still a go, I understand, and see if the games stop, and they let the stock trade freely. Perhaps thats too much to ask for ANY VSE stock. :) Sure wish we'd get on a REAL stock exchange like that which was discussed a year ago. Whatever happened with that anyway? Sorry for the rant........just feeling a bit used here.
Mike |
