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Sunday, April 28, 2013 9:16:57 AM
Just doing quick math based on my guess of the o/s count post split
a/s = 3,000,000,000
Frankel will need to keep control, so that means his pref is convertible into 1,500,000,001
current o/s = 497,000,000
That leaves a potential of 1,002,999,999 shares to be issued at some point. So the scary 3 billion number has just been reduced by 1/3 to 1 billion. Still a big number but nothing to be scared about when you are a .001 stock. If we were a .05 stock and that number was thrown out, then I might be skeptical. Who knows, maybe we'll be a .05 stock soon..... but I probably would have sold by then
a/s = 3,000,000,000
Frankel will need to keep control, so that means his pref is convertible into 1,500,000,001
current o/s = 497,000,000
That leaves a potential of 1,002,999,999 shares to be issued at some point. So the scary 3 billion number has just been reduced by 1/3 to 1 billion. Still a big number but nothing to be scared about when you are a .001 stock. If we were a .05 stock and that number was thrown out, then I might be skeptical. Who knows, maybe we'll be a .05 stock soon..... but I probably would have sold by then
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