I spoke with Mr. Luke Flatt on the phone today who is President and CEO of ALBY. Good guy and very open to speak with if you ever need to call him btw.
I asked Luke what the outstanding share count was and this is where we stand:
Common shares outstanding today is: 3,140,000 which is great ...however we do have 3 other issues of Preferred shares as well.
There are 2 issues of Preferred at the bank level and one at the BHC level.
Issue A has 393,631 shares outstanding and those will convert 1 for 1 to common shares at the end of the year 12/31/2014.
Issue B has 563,062 shares outstanding and those will convert 1 for 4 to common also at the end of the year 12/31/2014.
There is also 1 issue of preferred at the BHC level but we got to chatting about something else and I forgot get those details. I sent Mr. Flatt an email and I should have that info soon.
I think its fair to say we're looking at having just under 7 million shares outstanding by years end 10 months from now.
Shareholder Equity according to the UBPR report at the end of 2013 was $10.947MM
*I personally rate this news 70 / 30.. 70 is good and 30 not so fun. Dilution is still a ways off but coming ....however the bank has turned the corner of profittability...they have approx $16MM in NOL's... with approx $7.5MM in deferred tax assets to deploy...which means ALBY won't be paying any taxes for quite a while ...which will help our bottom line very nicely.
I'm in!
"Politicians never accuse you of ‘greed’ for wanting other people’s money—only for wanting to keep your own money." ~ Joseph Sobran
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