From a Current 7,000,000 Shareholder...
That is a given. The dilution should come as no surprise to anyone on this board. The question at this point is how many shares of the 500M have been placed into the market? I've always gone with the assumption listed at top: 480M, as it is only prudent to leave some shares held back for contingencies. $21M in revenue, 480M shares...$.044 per share in revenue. A 23.03 multiple vs. current share price. Any way you slice it, this should be a comfort that there's tremendous hidden value in this stock.
Is the speculation accurate that it will be absorbed or merged with XUII? I have no idea. Up until yesterday, I would have said no, but one of my several key indicators (Enterprise Value as listed on Yahoo) disappeared. For several weeks, the general consensus was 11.68M vs. less than a 1M Market Cap at 480M shares. Although that's only one of about 50 indicators that I look at, I found it disturbing that as of yesterday, it is listed as N/A.
As far as a merger is concerned, I read one entry that speculated that perhaps a merger would result in some sort of 1:10 ratio where holders of INVA would receive 1 share of XUII for every 10 shares of INVA that they held. That would place a current value on our shares of .00358 per share. While in most cases, people would be happy with an 88% increase in share value, I personally would consider that an insult to those who have placed their trust in this company. The value is in INVA, not XUII and I hope that there's not some shell game being played here where the "value" is absorbed without a reasonable concern for current INVA shareholders.
It would be nice to know how many shares are being held just by the participants on this board. Not possible, I know, but interesting to speculate.
And finally, with regard to the timing of financials... I've learned to expect nothing as a given when it comes to routine filings. Patience and trust in your own due diligence is all you can hang your hat on when it comes to penny stocks.
