I agree 110%, we have no earnings, but we have assets. They were bought by equity financing, which is great and a much smarter decission than debt financing without product or revenue. Also expenses will be minute one they get in the swing of things, since most of the shows will promote bands, they will do it for cheap so marginal costs of running the business will be low, so future income and/or debt financing in the future could allow for a share buyback, effectively reducing the O/S. I think things are bad from a traders standpoint, but we have all come to agree that we are investors now, and in the long run we have something good going here. Getting the company going with maximum solvency a 0 debt to equity ratio (as far as we know) and therefore a strong balance sheet. From my limited real world knowledge a strong balance sheet is the most important, it allows for efficient revenues, therefore a stronger income statement, which beefs up retained earnings (and our stake in things) so in the beginning it looks brutal, but long term we are set up real well I think. Lets see penny land! .01 and .02 would only put us at 9.5 mill and 19 mill market cap respectively, assuming a maxed A/S, that isnt too unreasonable.
Have a good night all!
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