Thinking of Investing in this stock but had a couple questions:
It looks like the Outstanding Shares as of 12/31 were 485,524,521. As of 4/15 the OS are 566,269,973 (According to OTC profile page). Can anyone confirm that share count? Also, does anyone know if any of the preferred shares were converted (4,000,000 PS as of the 12/31 date which are convertible at 200 to 1 ratio to common stock for a total of 800,000,000 CS)?
Now Im going to try some math so please provide input. Even assuming all the preferred stock of4,000,000 were converted to the 800,000,000 of CS that would make 1,366,269,973 which at the .096 close price makes a market cap. of $13,116,192. If you divide by an annualized net income of $800,000 that would make a PE ratio of 16. Again that assumes a.) that all the PS are converted and b.) that net income does not increase etc. over the years. Even in this scenario the stock looks attractive to me but wanted to run this by people and get some feedback. Thanks