Florida,
Feel free to post this..
I saw where someone on IHUB stated that after a 1000:1 RS if the price
dropped to the price we are at now, that would mean the company would
be worth $2500 which is even more insane than my miscalculation. LOL
Hell, I would buy the company in a millisecond at that price. Ken
directly addressed all of the dilution concerns in his letter.
The RS does not make you lose shares. It is like trading 100 pennies
for a dollar. It is the same amount. It is all perception that has
people so freaked out, many people just don't understand how it works
at all.
If we just do a little split then there is more risk of the price
returning to current levels or of another RS. Better to get this
nipped in the bud now.
The reverse split seems bad now, but better to get it over with now
than to have it hanging over our heads. If we don't do it then people
will keep expecting that it will happen and that will dampen investor
confidence. Once it is over with then we can move on and not have a
RS or REG D on the horizon while our projects come out. If we did a
RS when money started to come in from our movies then everyone would
be screaming "not now, just as things are starting to get good".
Better to clear out the old brush before planting the new trees.
We did say about how SIIR was assessed in the same PR that had the
blurb about the RS, but no one read anything else other than about the
RS. That was all they focused on.
Of course we are not dead, that is ridiculous. Despite what chicken
little says, the sky is not falling.
The split is crucial for the future of the company. With a stock
price in the tenths of cents and 2 billion outstanding, we could never
make an acquisition, fund a film, get on a better and bigger market,
or even sell the company, no matter how great the business was. The
fact that the market is still strong after the announcement shows
that their is still interest in this company.
All the best,
James
On 6/7/06, Richard and Eileen Lepre <elepre@surfglobal.net> wrote:
> James just two important points. If this reverse split is a "must", why
> don't we lower the numbers a little. 1,000 to 1 seems a bit too much for
> everyone, and a smaller reverse would enable current shareholders to hang on
> to more of their shares. In fact, it might even attract some buying. Since
> everyone is still guessing whether this split will or won't happen, why not
> spell it out in a p.r. in the next day or two for everyone to see?
> Incidentally, that point you made on our movie being assessed at $15 million
> dollars would be a great thing to share with everyone in your next news
> release. Perhaps, in spite of where we stand right now, we're not dead yet.
> Regards, Florida
>
>
>
--
"I'm too busy working on myself than to criticize anybody else."
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