Thursday, September 14, 2006 3:06:27 PM
mikeisme- you're way off base here with both your tone and your conclusions. because the company is not yet at breakeven does not mean that they cannot reduce the A/S (look at rltr, they are far from breakeven). based on the cash on hand and projected revenue, GnF could very easily significantly reduce the 25 billion A/S. That's not to say they cannot cash in any more shares if absolutely needed (rltr, for example, reduced their A/S to 150mil, and they currently have 112mil outstanding -- thus, they left themselves some room for additional funding if needed). Also, if in say 2 years, the reduced A/S wasn't enough, then JF would have the power to increase once again if necessary (that's a worse case scenario).
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