Tuesday, May 17, 2005 10:12:28 AM
Please remember that the stronger the case is for an acquisition being worthwhile when using shares at $1 means the stronger the case that the current company can only be worth $1, which may be the truth, the company may intrinsically be worth $1 instead of $6+ if the truth was totally clear.
Stick with some math. It is clear. If a company truly should be worth lets say $10, then company does not make purchases where the stock is worth at moment $1. Current trading price would not be valid to use for acquisitions if that price was out of whack by a factor of 10 and can be corrected first and ceo knows it.
That is why everybody knows that Matin knew company was not ever going to be worth $20-$40 share before the 5.5 million shares were issued.
Also don't discard the idea that Matin may still be less than honest as well. He was not honest on the $3 earnings. He knew it was bullshit. Be a realist. It could not have been the truth. If it was, the acquisition would not have been done then. The price of stock now would be $20-$40 at least, no acquisition needed. Just like right now no further acquisition would be needed for this stock to reach a minimum $6 if 22 cents totally legit.
sam
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