Like a lot of small companies, public and private, there's a "benefit of the doubt" factor that plays into this.
Put aside personal feelings and opinions (I don't disagree with the way you feel) and take an objective, realistic look at what is going on here....pretend you didn't own the stock before this. In all honesty, the value was nil before the authorization of new shares anyway. A hard pill to swallow, I can attest, I've put a fair share into it too.
Now stop thinking about all that and "objectively" look at what has happened in the past year. Forget about the shares being diluted, just for a few minutes. In a years time, we've got a company on the verge of hitting it big. Every small business needs to catch a break to make it go, it's a fact. What I'm proposing is to help this company out, spark some interest, get people looking at it, show that it has a valid plan, has assets, has a business plan and is making money. Don't confuse this with pumping it up and selling it. There is no long term value in pumping up a stock and selling it. All it takes is one lucky break, one good year, one good idea, one massive press release and one institutional investor to hop on and we've got a winner here!
I do hold management accountable for their actions, but I also like to look at the circumstances and assess what they are trying to accomplish. Given these circumstances, I believe (my opinion only) that the best moves were made. They were done legally and according to an email I received this morning from Sheridan, there will be more news forthcoming, on a more regular basis. Check out the newsletter, mostly same old, same old, but some positive facts there, nonetheless.
In essence, I'm campaigning for "let's give them another chance!"
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