Monday, April 02, 2001 9:08:22 AM
I understand your hostility and concern, but let me ask you this. How do you expect large scale production to commence with out money? I for one am ok with this dilution/funding. If they were to go to outside sources, I am sure they would be issuing much more than 1-2 million shares. Also, the fact that management (new to the company) is willing to put their own neck on the line for SEVU tells me a aweful lot about their respect for this company.
How much would you pay for stock in a BB company trading below $2 if it were restricted for a year. And would you put $1.5 million in the venture, I bet not.
Venture capitalist would want much more than $1 per share for the risk factor.
As far as the new management, so far all I have seen from the team is improvement. Better PRs, move the offices, sports authority, smarthome, etc, etc.
Just a few thoughts.
JMHO
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