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Thursday, March 24, 2011 1:07:42 AM
I'm hoping as things progress they can find another entity to clean the preferred guys out. That would be big news right now. Akin to getting out from under an adjustable mortgage that ran away on you. Also, right now, if they could, they would be better off selling the shares on the open market to raise the cash to pay the interest payments. At .06 cents they could make two payments for the same number of shares they will issue this quarter. They need to find a way to cut those guys out.
People seem to forget this stock is still in turnaround mode. There's a lot of stuff to work through. If they keep on adding revenue it should work out and I believe they will do that. The business plan is really simple, They make stuff that people already buy and companies with established sales forces (HiTec et al) sell it for them.
The company has to make the decision at some point though to value the common share. They have to turn away from using it to pay bills, easy as that is to do. Imagine if you could pay your mortgage with shares of Dogfish Inc. You would certainly do it if that was the only way you could pay the bill. But it's not the best solution in the long run for your shareholders,
Best to you,pb
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