Optex Systems Holdings Inc. (OPXS)

[littlefish]

I was clearly initially wrong with Arland selling back to Alpha assumption as to why they were not listed after looking at the 2011, 2012 years. It was the effect of the ratchet of the preferreds causing massive dilution. This stuff doesn't mean much to me since I understand the current share structure but I glanced back over those years to try and address your questions.

We're talking about Arland being an insignificant dollar amount today if you count the dilutive effects (several of us longs today control more than what Arland's shares would represent- guessing it'd be maybe less than $20k).

Like I said, I've been having to go back to look at these things as you brought up questions. But now that we have, do you not see what I'm saying? Arland if they still own would be a tiny player unless they were buying more along the way.

All IMO only.