theory
4th plan didn't seem to work.... this is the 5th plan to the process of becoming reporting.... so far it seems to me that about 1/2 are not buying this deal....
plans to get the share down to the 815 shares that pa promissed we will have ... and that is what the crux of the problem... in my opinion he is about "800 million" over that 815 million needed to file and ungag.... he almost telegraphed it in his release in my opinion, look!
"In the event >>> 800 million shares <<< of common were tendered to the company under this program, a total of about 4.8 million shares of voting preferred stock would be issued, with a total value of about $48 million. At a 6% annual dividend rate, this would result in the distribution of about $2.88 million in dividends annually, or about $720 thousand per quarter." note the example used!!!!!!!!!!
the plans to reduce the float...
1.) the orginal buyback I believe .0004 area
2.) the 100million buyback
3.) the .03 buyback
4.) the crashing to the pps to .0005/.0006, resulting in eventually drying up the trading volume so they cannot buy back shares because not enough volume....
5.) this deal , to increase volume /remember the stated open market buying is still in effect, and adding this allows this also to continue.... hell , we dropped volume lately to barely 3 to 4 million a day... which makes this/ "open market buying" a tough deal to do in the open markets...
all this resulting in a failure to release any real verifiable information on any deals structures , filing the 10 and ungagging the t/a....
look, in my opinion... they can't release the t/a until the shares are at 815 million so this needs to get done... could this be the prekatrina results, pointed out by Mr.P and that some have thought , who knows, but it seems that his is just another effort to get that float down....
that could be the only explanation to not ungagging in my opinion .... if anyone else can come up with another reason, have at it.... all in my opinion only
Imirish...
AI
