40% increase in the O/S since last year. Just got caught up on the last 2 days of chaos since I was traveling.
What I think is really sad is all the bullchit about the stock price not affecting operations and KAA's touted lack of concern about where the share price is.
Keith's whole original goal was to acquire prime leases and get bought out. Sure they are doing development to get cash flow positive which is great, but they obviously have used a boatload of restricted shares on leases. We were at 50M according the to report as of June 30th. They've had a whole month more of stealth-mode leasing going on, so where is the O/S today?
If they had dealt with the share price first, the last 15M shares issued would have gone a hell of a lot further regardless of what they were issued for. They could have done the same on 1/4 of the amount of shares if they had taken care of things first. Whatever those share went for brought an equal or better value into the company, I understand that, but only at the current undervalued share price. Would the giving out of those share for whatever we got for them have been worth it if we were sitting at $2 like we should be? I doubt it.
But does KAA care about that? I don't see how. As long as he gives himself enough shares as salary so as not to dilute his overall percentage it doesn't effect him. Lame, lame, lame!
Maybe we are better off than we were last fall, we probably are.
I think we are, enough that I picked up another 35K today at $.20. I still think things could have been handled better. Call it bashing if you want, I don't really care. You disagree then go ahead and start smacking that ask, I won't complain. I won't complain if you start bid-whacking either, because I am sitting on the bid.
