Thursday, May 26, 2022 12:10:42 PM
I don't think the dilution has been terrible. About as expected to get by. The issue is constantly playing in the shadows i.e. lack of transparency and ..... execution. <----Not a negative comment but statement of reality. That's how it goes in pinkieland. Lawrence appears to be changing at least the execution part of that.
For example, the increase to the authorized shares .... everyone knew it had to happen ..... but ECSL, under no requirement to inform of material events in a timely manner .... chose not to inform all investors. A listed company would have had to file proxy statement and notice whether or not they were going to actually solicit proxy from all shareholders or not. That is pinkieland. <------ Not a negative comment but statement of reality
New round of dilution for this qtr as well. <----- Statement of reality. Operating cash and deal closure. Plus doling out shares for consultant services. That's also likely source of some of the selling as well. As you stated, its ECSL's only currency for now.
Personally I don't have a problem using the shares for an acquisition that includes the purchase of existing businesses that generate revenues or land ... that is a means to an end. The issue is at what cost and will they generate cash and be accretive to earnings or something else.
Anyway, I'd like to see $2 on the closing of the purchases from Lorton. But I'm not going to hold my breathe on that. Requires conviction on the part of ECSL bulls.
Amigo Mike
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