Magellan Energy, Ltd. (MGLG)

[tchalla]

ordinary, did you even read the letter?

"they didn't really indicate they were selling shares to "pay bills"---" what part of the following is difficult to understand:

"There have been many inquiries about why Magellan increased its outstanding shares over the past year. For approximately seven months, up until the end of May of this year, gas production on the Morgan County wells had been virtually at a standstill because of the high BTU/shut-in situation. As a result, revenues were at a standstill, but expenses were not. Unfortunately, our share price also suffered considerably due to this forced inactivity and overall poor economic conditions. Our day-to-day operations and acquisition strategies still required funding; therefore, our outstanding share count rose as we obtained the additional funding necessary to execute our business strategy."