brich; I didn't say it was a "Bad Thing", this is exactly what I mean in my post about taking what I post out of context. Nowhere in my post did I say it was a "Bad Thing", so please don't go putting words in my mouth. That happens all too often here, someone starts down that road and a few posters start making me look like the bad guy or some garbage like that.
I Am simply pointing out these "After the Bell" Blocks that we have been seeing on the T&S. My opinion they are most likely Convertibles. If they are Convertibles, we have no idea how long they will be doing this? We have no idea exactly what the Agreement they signed says because they have not filed anything. Right now they could possibly be using Restricted Shares that recently became Unrestricted (Free Trading), but what happens when that runs out? The A/S is already Maxed out, so is the O/S, and everytime they sell more the float gets bigger, I'd like to know where these Convertibles are heading? How much are they collecting right now from the open market? The company needs to address this, as well as the "What happened to NIR? Question.
If Michelex owes them more than they can collect with the current A/S and O/S, they will have to make the Authorized number of shares Higher, in order to issue shares to pay the debt. Thats just how it works.
