How is this:
This post from paulpaps on RB sums it up:
By: paulpaps
09 Apr 2005, 04:36 PM EDT
Msg. 312 of 316
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If Antik wanted to..
raise the authorized, reverse split, dilute, do this and do that, they would have never entered in agreement with a clean, well kept shell, such as MJET. Instead, they would follow the Frank Olsen way of buying a dirty, unkept shell. They would purchase something a lot cheaper that they could mismanage, if that was their intention, simple as that!
MJET on a "fully diluted" basis is 45,000,000 shares, that's all! that's what is authorized. I don't see a filing stating they've raised the a/s, so these figures being thrown out of 600 million to nearly a billion o/s are completely asinine!
Now, let's say they do increase the o/s to the fully diluted 45 million shares, Antik would own 95.8% of that. The available trading float is what matters, so this increase of o/s will not impact current shareholder. If you haven't noticed from Thursday and Friday trading, two market makers specifically OPCO (Oppenheimer) has been very aggressively buying on the bid. OPCO is a leading national investment boutique that provides financial services and advice to HIGH NET WORTH investors, individuals, businesses and institutions. OPCO is NOT retail. On the ask side, you have NITE, which seems they are unloading their inventory to keep the pps down, for the time being. So what's going on?
It is my understanding Guez & CO. is buying remaining shares in the open market to fulfill their ownership. I'm sure we'll see some form 4's soon.
Bottom line: there will be no reverse split, no ridiculous dilution. Those who hold will be greatly rewarded, IMHO.
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