John, two things:
First:
I don't really care how many share are outstanding. Because there is a "guarantee" on earnings per share! EPS is the base for valuation of a company. Not the total numbers of shares outstanding or gross profit, just plan and simple: E P S.
Second:
Earlier you questioned the possibility of a reverse split until 2011, because there are notes (or warrants?) outstanding.
They still can do a reverse split, read this (from SEC filing):
Stock Dividends and Stock Splits . If the Company, at any time from and after the Closing Date, while this Note is outstanding: (A) shall pay a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company pursuant to this Note), (B) subdivide outstanding shares of Common Stock into a larger number of shares, (C) combine (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (D) issue by reclassification of shares of the Common Stock any shares of capital stock of the Company, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding before such event and the denominator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding after such event. Any adjustment made pursuant to this Section 3(h)(i) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.
Greetings from Holland and GLTA
Greetings from Holland and GLTA
