Tuesday, April 24, 2012 5:14:07 PM
an exact number per the last financial has the 3 execs holding 473,811,244 shares total. for this number to equal the 51% needed you can have no more than 929,041,654.9 shares as the O/S which would put the float around 455,230,410.9 shares
if these are the only 3 holding restricted shares. Which I believe is the fact. restricted shares as the current O/S is 1.44B, and the float is 970.7M (wish i had exact numbers) which puts the restricted shares @469,300,000 so some of their shares are unrestricted.. but not enough to greatly move the pps.. only about 4mil. besides they have to file with the SEC before any selling..
I honestly believe that once they have 51% they will cancel the remaining A/S, as it is just currently being used primarily as a buyout blocker, with the added effect of insecurity to retail investors, causing them to not want to accumulate.
Most investors on our levels will look at this and see pure numbers.. as in the est $70M for the year coming off of their most recent PR and using a max O/S of 2.5b. then using $70m X 1.6(valuation constant) giving the pps a whopping .0448 value.. because in pennyland this is a possiblity..
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