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Friday, August 24, 2007 1:17:18 PM
You said: "Dalby, during his CC, stated that he would need about 40M shares in the near future to take care of obligations. The authorized increase was based on a 4c price and most voted yes knowing he would need these shares. So what the surprise here? So I'm not clear as to why some here are clinging onto the dilution bashing when this was expected and approved by shareholders"
The issue is the prospect outlook and financial structure is not good which has been documented for additional share issuances for this company.
There is a huge surprise and Cee It's post was right on. The revenue and profit needs to grow as the share count rises. OTC or not it is still investing and supply and demand drives the price up or down. This is not the same company when many originally invested and the share structure had 20M shares outstanding and shares were issued very quickly for a public company. The issue is this has been the companies only real asset IMO.
I follow the storage industry very closely - EMC, Dot Hill, Xyratex, Network Appliance. Take XRTX and NTAP for example:
XRTX $950M revenue company last fiscal year - 29M shares out
NTAP $2.8B revenue company last fiscal year - 363M shares out.
Take care
These are my personal comments, observations, opinions and should not be relied upon for any investment decisions, and as always read the SEC filings for the facts of the company
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