michael,<The total will be 80 million plus 5.2
million divided by whatever the share price is at the time of conversion, right?> the problem with that theory, if I'm not mistaken it has been reported here that according to the transfer agent, there is already 90mm+ shares outstanding...My guess, the BOD will request shareholders to increase the authorized number to 200MM(to save another trip to the well in the future,they can always reverse split again at later date),and the issued/outstanding number will come up to 150mm +/- (this would follow the company's history of doubling the OS shares on a yearly basis),,IMO..DD
PS: also note <"5.2 million divided by whatever the share price is at the time of conversion, right?"> you failed to take into account the 30% discount on conversion..5.2 million divided by X shareprice Plus 30% more shares for the discount...
PSS: where's the resident TA guru? Now he can talk about hitting bottom resistance,,,will .18 hold? Maybe Gordon will have to rewrite is option package and lower his .15 conversion number.. |
