We've beat the A/S thing to death at this point, the new 1.25 Billion shares will not hit the market on the day they are released. Why is it that everyone keeps thinking the new shares are going to flood the market? They first need to be converted IF THE FINANCERS WANT TO CONVERT. Debt can continue to be paid down from revenue being generated by the producing wells, meaning fewer shares to convert. There are anti-dilution provisions that go along with conversion IF REQUESTED. Dilution should not matter if it is done slowly. Raley has already stated that the CD holders have already stated that they are not going to dump the shares onto the market. The CD/debenture holders have more to gain if the share price goes up then they do by dumping the shares into the open market.
There is nothing to stop the CEO from selling 500 million shares into the market, but he is a share holder also, what is he going to gain by diluting his own shares and losing money. There are shady CEO's out there yes, and some of these idiots have done this. Raley seems to be a prudent CEO, he seems honest, doesn't fluff, he wants to grow the company and share price, I think the fear is just unfounded, he has done nothing at this point to show that he is reckless.
You can't on one hand say that you believe in the company, business plan, and the CEO and then on the other hand say that we should all fear this same CEO and Company to pull a fast one on us. Either you have faith in Raley to do the right thing or you don't, it can't be both ways.
