I'm curious how you guys estimate what volume of financing shares have been chugged through. For instance, since the investor tour ended, the total volume has been 2.7M shares in 7 trading days, or almost 400k per day.
Any idea of how many came from those shares, reducing the overhang? How do you figure this?
At 400k shares per day, we'll trade 132M shares through the end of 2013. Even if there is no bond deal, conventional wisdom calls for perhaps 16m to 18M through 2013, including shares guessed remaining from outstanding issuance. That's max 13.6% of trading. Any way to estimate what that overhang means, considering not all shares will be sold?
And measured against not only the operational and financial success of the company -- projecting a current p/e of about .5 on 2013 earnings -- what impact would that level of selling pressure be expected to exert? Let's also be mindful that there is a good likelihood of both a First North listing and a bond offering before any possible significant new issuance to more than compensate, I'd think.
In the next 8 months, three new quarters will be reported, and that's before the last 7 1/2 months of any 2013 share issuance (if there is any).
Ironridge was one thing; current equity financing prospects another altogether.
On a separate note, I'd expect that Nisse must report personal shares owned when he becomes a Board member.
