those of the board members who think that we are diluting
Posted by: investorcg Date: Friday, March 14, 2008 5:10:08 PM
In reply to: None Post # of 11389
A must read from Graham....................
Here is a response to some of my inquiries to the company....
Just want to bring you up to date on what is happening and answer some of your questions.
To begin with, I never said that we would not sell shares to raise capital. I only said at the time that it was not our intention to needlessly dilute shareholders. The dilution that you have seen has been pure equity that has gone into the acquisition of Lumar and for all the equipment upgrades necessary to make the facility a first class imaging center. You have to understand that the medical industry is very capital intensive. An MRI machine, for example, can cost up to $1 million.
We have to spend about $250,000 as part of this acquisition and reluctantly have to sell stock at these low prices to pay for this. We have expansion plans for the company that include additional equipment and personnel.
I also happen to be a shareholder (Restricted Shares) and will never make money unless we get the share price into the $.50 area which is our goal by the end of the year. For those of the board members who think that we are diluting to put money in our pockets, I would ask them to do the math and calculate how much we have raised at recent prices.
We will publish our financials in the next few weeks. It is tax time so it is hard to get time with our CPA to prepare the financials in accordance with acceptable accounting methods to present to the public. THEY WILL BE PUBLISHED SOON!
We are in the process of hiring an Investor Relations person (this all costs money) so there will be more press releases and updates.
A web site is being designed that will be updated weekly with company information such as outstanding shares, press releases, services etc.
It is unfortunate that the majority of investors appear to be day traders and not in it for the long term. I happen to have had a few very rude emails from the insane fringe of the IHub board members who should be advised that we intend to be here for a long time and are not going to compromise our efforts to build a successful company in order for them to make a quick buck in a few days.
I am also tired of the constant complaints about one of our directors, Steve Bethke. Steve has had an immense amount of experience in the public company arena. His company, Affordable Telecommunications was listed for many years before being sold to Buzz Technologies. It was a legitimate company and was unfortunately a victim of the dot.com era. Steve has brought a lot of experience to our company and I am proud to have him as a director.
I would also like to ask the board members to stop calling the Transfer Agent 50 times a day. We had someone call 24 times in one hour. The TA is legitimate and has the proper DTC compliance because if it weren’t, no one would have any stock to trade.
In conclusion, I want to say in the most personal way to all of the Ihub members, thank you for owning, or having an interest in Bederra Corp. It is our true intent to build shareholder value and it will be done. Please have patience. We are working to achieve these goals. If I don’t respond to all your calls or answer every email please understand that I will try to communicate with you as often as I can in some way.
