TheGlobe.com Inc (TGLO)

[Toxic Avenger]

It doesn't. The only scenarios in which Delfin maintains 71% is if they do no capital raising and unless their plan was to buy the shell for $25k and sell off their $.00008 shares at a huge profit and use those funds to further their plans, that seems unlikely.

As you've suggested, they could convert their 71% into 51%+ of voting preferred, but as I pointed out, that frees up 310 million shares to be sold, just the same as increasing the A/S by 310 million shares, other than move their claims ahead of common shareholders in a liquidation.

The problem is any capital raise requires new investors to value the company at far greater than its net assets and while it's true that operating companies with profitable businesses often see that situation, Delfin is essentially just beginning a massively expensive project whose success will be unknown for years.

Of course I look forward to your expectations for what actions Delfin can take that will keep the current market cap of $75 million, let alone increase it significantly.

Please be sure to include specific figures.

Anyone have a scenario they can put expected numbers to? Anyone?