I do agree that this is a bum deal for $PNTV shareholders... How can they buy a 5 million dollar greenhouse operation, but let a court force dilution for only 350 thousand dollars or so? I guess another 50 or 60 million shares dilution is not that terrible, but if the debtholders decide to work the price downward to maximize their share selling totals, I do see that the share price will have a lot of pressure to stay in the .045 to .05 range.. Of course, that said, maybe this will cause the company to now come out with a NEWS and PR blitzkrieg - in order to help keep the price up while the selling happening...
I was in another stock that made a similar deal with it's debtholders... ICN*, and the steady dilution caused it to go on a long term down spiral...
Luckily this particular selling will end by end of September, imo, so for long term holders... this too will pass...
GLTA
