TheGlobe.com Inc (TGLO)

[Toxic Avenger]

To make your numbers work, you have to assume that outside investors will put in "several billions of dollars" to own 20% of the company.

I'm afraid I don't see that happening.

If you look at the sticky I just posted, you'll see Delfin can retain majority ownership and raise a reasonable amount of equity, $500 million or more. But it will absolutely require a reverse split.

The reality is, outside investors aren't putting 5 or more times the asset value of a company that is years away from revenues to own 20% of that company. Just doesn't happen. The results of a secondary offering have nothing to do with "what Delfin needs". It has 100% to do with what outside investors are willing to value the company at.