InvestorsHub Logo
Followers 31
Posts 3557
Boards Moderated 0
Alias Born 07/28/2007

Re: None

Saturday, 12/06/2008 1:36:58 AM

Saturday, December 06, 2008 1:36:58 AM

Post# of 19383
This will cost about $200k. That in itself will drive down the price of the stock. This is a panic move.

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.