Replies to post #4084 on NewMarket Technology (fka NWMT)

[mr_tech_russ]

SBC, I said NO SUCH THING!

I did NOT SAY "Phil is continuing to give out shares right now". Honestly you are just trying to twist my statements to suit your own agenda, an agenda no doubt influenced by your selling today!

When the O/S rose from 104.7M to 117M Phil put out a statement something to the effect that the rise was part of negotiating the conversion of the preferred to the subsidiaries. The statements made were not all that clear since if the goal was to move the NMKT preferred to say NMKT-China or Xiptel then issuing NMKT common is not the way to do it. What I figure he meant was that in negotiating the conversion of the NMKT preferred stock some of the holders chose not to move to the subsidiaries but to convert to NMKT common as is their right. However according to PV the shares issued which made the O/S rise to 117M were RESTRICTED and therefore not immediately dilutive to the FLOAT.

All of this is shear speculation of course. With the conference call just days away I think we should all wait to get details from the company. The 10-K released today did not have any subsequent event notes regarding conversions so I assume they are holding off until the cc or perhaps even the Q1 10-Q to detail what has transpired since the end of the year.

ALL WE KNOW is the O/S has increased to 128M and it's likely due to conversion of some of the preferred shares. This is still a far cry from the fully diluted share total of 183M. Since Phil has already said the company is working to reduce the fully diluted shares we only have to wait and see. Frankly ANY reduction will be noteworthy. I believe in the end Firecracker's number of 150M shares will be just about right on the money.