What makes you think I don't understand something so simple?
That being said, Davis owes his investors an update. ANYBODY who bought pre-split, even at .0001 is SO underwater they will NEVER get their money back. There are a lot of investors in that boat.
BTW, I'm not one of them. It's not like they were stupid. Davis has absolutely crushed them.
Read this analysis:
OK,
Now we're getting somewhere.
So, while I readily acknowledge the fact that they didn't ACTUALLY issue trillions of shares, the R/S had the same effect on our hypothetical investor. To anybody holding, the co. might as well have issued 54 Trillion shares.
That is my point. The dilution is absolutely breathtaking.
3.55 billion from Feb 3 to May 24 (3.5 months)
The convertible debt should be extinguished by now. Hopefully all the vendors are paid also.
Even in Davis April 21 10Q (suspiciously late), he listed 181 billion would have extinguished ALL the debt in a worst case scenario .00025 cost average. After the R/S, that number would be 1.81 billion.
We are at double that now.
I have no problem with my cost average at .000?
I just think that Davis should update his longer-term shareholders where they stand. That would be a responsible and ethical thing to do.
Just think, if a person even bought at .0001 from September to Feb of last year, she now needs .01 to break even.
That would mean that PDMI would now need a market cap of 36 million for a buyer on Feb 2, 2011 to break even.
The 52-week high is 1.2 cents PRE-R/S.
Talk about a shellacking.
Pre R/S
Price Market Cap needed to break even
.0001 36 million
.0002 72 million
.0003 108 million
.0004 144 million
.0005 180 million
.0006 216 million
.0007 252 million
.0008 298 million
.0009 334 million
.001 360 million
52-week high = 4.32 Billion to break even.
J
