KB,
I am aware of the trading activity of the past 10 days. My reference earlier was to the overall life of the company history. There have been periods of lower volume before and there will be again. Summer is almost always the lowest volume time for AVBC.
As for dilution... No I don't have a problem with normal levels of dilution, and I recognize that a startup company has to dilute to finance operations. However, in this case there is more going on than mere normal startup dilution...
I don't have the numbers from prior to the bankruptcy but consider this:
1. Company restarted in late 1997 with aproximately 20 million shares outstanding.
2. Reverse Split the shares 1 for 5 in January 1999. At the time there were ~45 million shares outstanding of 50 million authorized. Post RS number OS 9 million shares.
3. first available (~2 months later) OS number following RS was ~20 million shares.
4. OS growth from that point until June 2000 is normal at ~4 million shares added to the OS during that time.
5. Something strange happened in June 2000. According to the filings the OS numbers for the previous reports changes to reflect an OS of ~21 million in June of 2000.
6. Current OS is ~52 million shares. ~31 million shares added to the OS in 12 months, Almost 8 times the amount from the previous year.
The only discernable results for this massive level of dilution are that we are apparently in SoCal this time. The PR's did not promise large scale rollout (3000 locations) this time and so everyone is taking the relatively small presence as a big positive. It may be. But now we need 2.5 times the revenue and 2.5 times the earnings to generate a serious stock price movement that we needed just a year ago.
You are correct to watch the trading, it will tell you what is really going on with AVBC. IMHO, AVBC has been in 1st class doodo for quite some time.
BTW, some math for thought. If we accept an average price of .25 over the last year the ~31 million shares brought in ~7.75 million dollars. At 300,000 per month to operate 3.6 million is used up. Did Alberson's get 4.1 million in slotting fees for 300 stores? Or does it cost 1 million per state to get in a convenience store or two in Nevada, Texas, California and New York? Even a million to get in to 300 Albertson's seems excessive.
I will remind everyone that I am not saying that anything illegal has been done. No laws prohibit companies from selling stock to finance operations. We have all read about the CEO's predisposed to riding in limo's and other trappings of a lavish lifestyle. great work if you can get it. The question is did all of the money generated from stock sales over the last 11 years go to building the company...or something else? And even if it isn't illegal to sell stock to support a CEO, is this where you want to put your money?
David Weed
aka the Bird of Prey
www.warp-drive.com
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