"This is where there could be some concern for investors who have blindly been throwing their money into the company based on the news alone. Currently, as of yesterday, Yahoo Finance reports that only 1.46 million shares were outstanding, with a float of just 944,820. This means that Lucas Energy, Inc. (NYSEMKT:LEI) plans to issue 8.9 times more common shares than there currently are available, meaning investors loose almost 90% of their equity in the company. This doesn’t include the 552,000 preferred shares which are convertible into another 3.9 million common stock shares, bringing the total up to close to 17 million additional shares issued of common stock."
News 
Market Data 
Discover 
AI
