Terry, I appreciate the response. I guess there's a first for everything.
The only thing I agree with you on here is the mistake issuing too many shares.
I know it's water under tha bridge but it's important to take a look at how it happened and why because this may help explain why the pps is in the toilet now when it should not be.
Btw, I am NOT slamming the stock or suggesting anyone bail now. I'm just trying to make sense of why the pps is so G.D. low and the volume is pathetic.
The current market cap is only about $7.1M (about 3.4B O/S x .0021/share)
I think this is a joke considering what the company has going on and the stage they are at right now.
I think it's safe to say that if the O/S was 340M (1/10th of what it is now) that the pps would be much more than .021 (10x what it is now). I'm saying that if there were not so many O/S that the market cap would be much higher. It would not still be valued at $7.1M company. It's the high O/S and low pps that's scaring away investors and for good reason. It shows that Whit does not have it together. When there's little investor confidence then the company is no longer valued based on a fair market cap. That's why less shares and we'd be valued much higher than a $7.1M company.
If Whit had it together years ago when the pps was much higher and O/S much lower, then he would have been able to obtain equity financing that was not so dilutive. Except he never focussed on promoting his biz plan and marketing the products. Since he's not a businessman, he didn't recognize the importance of this and investors lost confidence and the stock went down as he added more and more shares to keep the ship afloat. The more shares added, the less the existing O/S are worth and then it turns into a Death Spiral downward. He needed a marketing plan and a finance guy many many years ago to get financing at reasonable terms with minimal dilution. He refused to do this.
Then look what happened during Q2 '09. He got a flood of fert orders and couldn't fill them because of lack of funds to buy the additives. He couldn't get a loan with purchase orders in hand so he had to do another private placement and hand out gazillion more shares. That's always been the problem. He authorized use of 20B and he uses them like it's toilet paper with no regard for what he's doing to the current shareholders when he should be doing a better job marketing and growing the biz. I don't just mean PRs...which are very important, but also the interviews/presentations. Without taking care of the other end then it's just like shoveling chit against the tide because every time he needs to pay a bill he just issues gazillion more shares.
Eventually, he must do a reverese but not until the timing is right and that certainly is not now.
Getting the word out there and being able to inspire others to invest or lend money most definitely is very important. That's why we have 3.4B O/S and why the market cap is only $7.1M.
Yes, of course he needs to show growth but why wasn't he able to fill the orders last Q2? it sure would have shown tremendous growth, right? He couldn't get the financing and he was too stubborn to hire a finance guy until way after the fact (last September). This is why I say he's a terrible CEO and needs to do a better job getting the job done...marketing, finance, everything.
Those of you who say he doesn't need to change anything different then please tell me why you think the market cap is only $7.1M now. We are in the heart of fert buying season right now with supposedly all of the cashflow issues of last year resolved yet pps is 2/10th of a cent with a measly $600 worth of shares traded. Why?
Sorry, but "patience" is not the answer. "Patience" is the problem.
You want to allow Whit to continue doing the same things year after year after year yet you expect a different result.
Isn't that similar to the definition of insanity?
And you guys say I'm the crazy one?
-The Chump
