nano-man1 ... why 1.7 million is not a big deal... Just look at the following calculation. Don't let bashers scare you to sell.
Those bought under .04 are still IN-THE-MONEY
Shareholders' Equity: 92,777,904 = .0545 a share
Book Value: 79,545,364 = .0467 a share
Current Market Cap with 1.75 billion shares = $33.25 millions. We have book value (assets - liability - intangible) of $79 millions. Can you see the current price is 41% of the true value. This company is better dead than alive right now. This translates to IT IS UNDERVALUE.
EBITDA for 2006 (expected more in 2007): 8,679,471 = .0051 a share
Let's use P/E of 5 = .0051 x 5 = .025 a share.
And you are saying we are going to sub penny? WHY?
From these numbers, anything lower than book value is a steal. PPS at .019 is really a steal.
I think the company determine common to preferred conversion's value at .06 a share is right on target.
Anything lower than .06 as far as common stock price goes is IN-THE-MONEY
