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Thursday, May 31, 2012 1:04:23 PM
I really like your post yesteday about share price and the $2.6 Million interest payment. I have been running over this for days now...and can't come to a conclusion yet either.
Sometimes I think that one problem they ran into was that the share price didn't break .04 on the last pump. If you look at the payments the made along with the Shares issued the fair value for the shares was roughly .045. They may have been suprised that the PPS wasn't able to break this threshold and are now stuck a little further behind on becoming cash flow positive then they anticipated. They may also have run into the problem that they couldn't shake out enough longs....which is good and bad....based on my next comment.
I also wonder when people say MSLP wants to buy cheap shares back. I think there is a srtong arguement that this isn't true. If they have to buy out loans/shares issued at .016 when they issued them at .045; think how large of percentage loss this is to them. They would rather buy back shares at .05 and then retire them...thus increasing the PPS even futher. This is will then allow them to show positive results accross their entire books.
Hopefully this isn't too hard to follow....even my head gets a little confused with this thought process.
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