Given the projected numbers - 16 million in revenue and 10 million shares o/s, the price arguably could be as high as 3-4 p/s, as high as $5 a shares.
Maybe they just want to have the XTRN outsider shareholders sell as low as possible.
Dilution is not necessarily bad if it is used to create accretive value. If it's done just to give shares to management, then they could have issues of breach of fiduciary duty to us minority shareholders.
Are there any big XTRN shareholders left that will look after the interests of the minority 17%. This may be the key thing to determine.
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