"Granite is the saving grace"? Huh? So you think that converting a whole $2,900 into 29,000,000 shares was good for the company?
A. It does nothing positive for the company.
B. It dilutes the heck out of the common shareholders which would/will/has caused many long term investors to leave.
C. The dilution has the inherent effect of causing a steep price decline since the shareholder equity is cut by a huge chunk.
How you can contrue a virtual hostile takeover by in investment company as a "saving grace" is beyond me, especially since they still have the power to dilute by nearly 95% which would cost you another 95% of the equity you're clinging to now.
If they were interested in the COMPANY and not Granite, and had they had confidence in Mr Hansen, they would've restructured the deal to delay interest/principal payments.
Don't think for a milli-second that Granite worries about anyone but Granite.
Just think, they offered a whole $4,000,000 in financing and converted $2,900 into $8,210,000 worth of YOUR equity and still have another $3,997,100 to convert. And you think Granite is your "saving grace"?
Better pray for another savior...
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