Renavatio,
We can talk shop anytime. Although I am a bit out of the PBLS loop these days, I enjoy talking to you about it.
.005 was based on what we valued the current common share structure and the business. The only thing I can see that the company really has of value is the pit. They should have stayed just a pit and a construction company, taken the FEMA contracts, and filed back when the share structure was reasonable. Then everyone wouldn't be in this mess they're in.
It might be more like .008 but I don't imagine there will be much left for investors. To be honest I don't have my notes any more that figured the value of each division. Additionally, a company that raises their preferred authorized to 250M and gags the T/A is too dangerous to invest in IMO. Nobody knows how high the outstanding actually is, but you have to assume the worst.
Do you think they will earn more than $17.5M? That's what it would require to buy the authorized at a penny.
There's little doubt how the conversations go when the company tries to acquire another. Paul explains to them that they will be able to convert many preferred shares to common and sell them all year long and make a fortune. It's that simple.
Why do you say the online public records do not back that theory?
Quote 03-19-08
"Yes, we must, indeed, all hang together, or most assuredly we shall all hang separately." ~Benjamin Franklin to John Hancock
