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Thursday, April 28, 2005 10:15:39 AM
seems to me, they are doing what you're suggesting in this regard. the opportunity to vote on increasing the a/s.
and certainly every investor should consider possible dilution...silly not to. currently we know about the s-2 filing and the money involved and can re-assess the resulting dilution as the pps varies. again, this is a known variable we can all assess. the only variable that we don't know here is when dnap will choose to exchange shares for cash from dutchess and how much....i trust they'll execute on an as needed basis.
and investors can certainly evaluate any future possible dilutions when such information is disclosed.
and to your point that the downside of too many extra shares is in the perception of the potential investor.....i say that a lower pps with or without a larger a/s is a greater deterant than just the potential of future dilution.
this is a corporate tool that can enable dnap to execute and respond to opportunities as they are presented, if shares are needed, without having to seek shareholder approval each time which is timely and costly imo.
we all know, dnap's success will hinge on what they do or don't accomplish.....the rest are just peripheral issues imo and take a back seat to the actual results.
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