Thursday, April 01, 2010 8:21:47 AM
12 million / 78 million = .154 per share based on current earnings.
You need to subtract expenses from revenue to get earnings, I doubt they are netting more than 10% right now and it's probably lower. But even at 30% net profit, using your math, this is a 5 cent stock at best with no further dilution-and that is really stretching it since Oil and Gas exploration and development is a capital intensive business.
And, there are still 125M shares authorized, what makes you think there aren't warrants and other derivatives already issued that aren't accounted for in the OS that will provide further dilution?
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