I was once told by IR that the total authorized share count---authorized NOT meaning issued---was 100 million. To change that would require a shareholder vote, which we have not had.
I think that a more plausible explanation for how the market was acting is that many stockholders with less than 5% were trading (swing or day trading) a portion (perhaps a larger portion than you might believe/expect) of their portfolio on the way up.
To state that you have 200 million shares out there seems to me to be in the realm of conspiracy theory---particularly when the auditors and the issues raised by the the SEC Halt only focused on the cash. A share count error of the magnitute you suggest is far more serious than where is the $12.7 million and would have to involved fraud and conspiracy-which I doubt is the case.
I tend to look at the chatter and throw out the conspiracy theories on the negative side and the buyouts on the positive side and BELIEVE that the truth lies in the middle and the simplest of explanations are more likely to fit the facts. In this case, the management feud between KD and LC is at the core of the issue. I also believe $1.00 is possible in the PPS as with all the doubt this traded $.88 prehalt. Remove doubt, get audited statements, add clarity and while that is a lot of IF's (all possible I believe in the near term) the $1 does not seem out of wack with the facts. I am not counting on $10 or even $5, but if you believe the IFs, the dollar is in the cards (pun intended)!
The PPS road back to prehalt levels will not be smooth as with all the crap that drove this down, you have what I call the ICK or Disgust Factor that will make some just want to leave and not look back (emotional factor) and others that will/would prefer to see the cards on the table/PR announcement before getting back in---probably a wise move. The battle between FACTS and EMOTION will have an impact on the charts.
AI
