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Re: Vance post# 137

Friday, 11/05/2010 12:40:48 PM

Friday, November 05, 2010 12:40:48 PM

Post# of 315
Vance, I am reading this from my phone, will comment in detail later. In a nutshell, if all Preferred shares wre converted to commons, based on strike prices, they value the company north of 300 million and as high as about a billion. That billion is based on the offering of Prefered share package offered at 10 bucks with a .56 divy. They are obviously approaching major lenders to support the Sand Excavation Project targeted for next year.
We are trading at a fraction of fair value. I would think funds interested in participating would pick up shares in open market to fully lock float.
Also CEO and family locked for 2 yrs.
New highs predicted by Monday.
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