Adamp, I Agree on all points.
We all knew dilution has been going on. It's acceptable to a point. But disipline needs to be exercised by management so they don't over do it. Once I open a cookie jar it's hard for me to keep my hands out.
Also, we all knew in our hearts, once we heard the TA wouldn't give out info, the A/S was probably on the rise. And, we all hoped it wasn't being tapped into much yet.
My guess is that a good part of what we heard on the conference call was managements intention. I bet they felt the PPS would be a lot higher so they would have to dilute so many shares to raise the needed cash in order to fund there store openings. They probably figured that news about the successful CC, and the name change, and Des retiring shares, and so all would have a greater effect on the PPS than all the news they put out did. In some cases news had no effect at all.
This is not my usual game. As a rule I stay away from Pinks. But, I did get involved briefly with ECFL this time last year and did really well. This time I got caught with my pants down.
How ever we individually play this pos, we are all in it together.
I believe market99 is legit. I also believe management over estimated how shareholders would react to PRs and have been forced to dilute more shares than planned at a lower pps than planned. I get the feeling Jason doesnt like feeling like he has egg on his face and won't give up anything 'til things are back on track.
The weather in much of Texas is expected to be pretty bad today. Let's all hope Phil has a safe trip! In a post today he said "God willing". I think he meant that in atleast two ways - one the weather. If we find he was unable complete his trip let's not get too frustrated. What ever is going to happen will happen whether Phil gets to Dallas or not.
GLTA
