We have all agreed that it will take "new" money to move this stock up, whether it be institutional investors, or whomever. The 3rd party confirmation by EMIS was a great step in that direction, and I think we all saw that as a sign of good things to come and bait for new investors. However, with yesterday's report, it is hard to imagine any institutional investor who would enter into a stock when they have seen management reduce the outstanding shares by 12 and 6 days later issue themselves 3.5 times the number of outstanding shares, and not inform anyone about it. I'm sorry guys, but I don't see anyone wanting to play the game with those type of rules. And so they are restricted shares, but no one knows the restrictions. They could be 1 day, 2 days, 2 years, restricted to only selling off 1million shares a quarter, who knows??? All I know is when we grant 50k in restricted shares at my company, we have 4 days to file a Form 4 with the SEC, and I didn't see a Form 4, 8-K, nothing. The only thing I have seen with this company and the SEC, is their forward-looking statements at the end of PR's.
Sorry guys, I have been here since April 05. And while my dollar amount pales to some of yours, it is significant to me and my family. Like a number of things, this new positive tone sounds wonderful, and I would (actually already have) given much money to want to be positive. But when I think with my head and not my heart on this one, it's hard to find the silver lining.
I'll close with this. If management feels like they deserve 33 million shares in a quarter when the Company earned $3,182, what will they feel they are due when revenues are $10 million? As long as shares can be issued on a whim, it doesn't matter what contracts, revenues or earnings are, because EPS and the new investor pool will stay stagnant.
Good luck to each and all....
AI
