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Friday, June 08, 2007 11:10:19 PM
The newsletter said that there were 145 million out with a float of about 65 million. I wonder if that other 80 million is part of the Regdex that was filed. Those will soon become part of the float I would imagine.
I think Jim really has no idea how to get shareholder value. The explaination about why they did the RS was useless. Why even put it into the newsletter? Did they need to have a higher shareprice to list on the OTCQX? Who would advise them to do an RS to attract new investors and then proceed to dilute the hell out of the stock? Jim better have better consultants since he doesn't seem to know that an RS is a horrible thing unless something great is behind it.
The only positive reason for an RS that I know of is that it makes the O/S very low which might attract future investors. That has been eliminated already. The negative reason for an RS is that there is room to dilute the stock again. They have been doing that.
The nature of S3 is a money eating machine. They constantly need financing for business and the Chinese take their sweet time in paying it back (about 9 months). I would think eventually they would have a cash balance to finance future deals but I though that 9 months ago.
When will the dilution end? I wish I knew.
That newsletter irritated me pretty good.
Sloth
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