Thursday, November 04, 2004 4:27:16 PM
For some reason I keep looking at the one about LB locking up 27 mill shares. It finally dawned on me that one of the criteria I use when reviewing a stock is that they have less than 20 mill shares O/S. Someone reading that PR and seeing a 'FORMER' CEO holding 27 million will be scared off rather quickly wondering how many shares are really out there if one guy holds 27 mill.
Further to that, and I think this may have been mentioned before, the only real hope this company has, is for LB to be convicted, and his shares, plus another (say) 40 mill (that he issued to 'consultants') get cancelled (and Im guessing the 'consultants' dont own their shares anymore so that wont be happening), leaving the company with a reasonable share count to work with. This would be an unprecidented situation (to my knowlege) should it happen so Im not holding my breath.
Oh well, back to sleep to dream another dream of success.
(PS, Hasher, whats up with the news you suggested may happen?)
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