Saturday, December 06, 2008 1:36:58 AM
We estimate that odd-lot stockholders who own less than 100 shares represent over 66% of our record stockholder base but only approximately 0.04% of our total shares outstanding.
based on that and 11M shares out there.
the # of shares held by those with less than 99 = 352K.
Therefore, cost to repurchase = 352k X .50 = 176k.
Adding in the $20 fee will bring it to $200k. In other words, their entire Working Capital.
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