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Friday, August 09, 2019 4:45:08 PM
The benefit is that shareholders with 50 mil or more shares can currently dump on low volume and bring the price down substantially. I am pretty sure that one former investor did this several times only to slowly buy back at the lower price. Shortly, this won't be happening.
The drawback is that Sharp pretty much said that he was going to do everything possible to never RS. Yea, it's a problem. I personally wouldn't have said a word about it, but if I were CEO, I would have done it a long time ago. And I would have chosen 15 to 1 - especially if the intent was to buy a company. Less shares, less needed to pay for growth.
I have two requests from Sharp - please file right this second for the RS and two, buy back about 50 to 100 mil shares on the open market. You need to show that you are really taking ownership of this company and are willing to win or lose with your investors. I hope to see a filing that you made a reasonable sized purchase shortly before the signed agreement takes place.
Yes, I am still holding my shares and hope to be buying some cheap shares if Sharp fails to RS Monday morning.
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