Bob, you do not agree that the o/s is just too big? I love Dexter, and Labwire so much I could just faint, but if we have a problem, let's talk about it, so that Dexter can fix it. Dexter is the kind of CEO that will look at it and fix it.
How is it that the o/s for Axiom is 88 mil, and ours is 140 mil, and that's o.k.?
Dexter has stated the goal for LBWR at this point is 50 mil. I think it will happen, but it's looking like it's going to take some time to get there. Why not make a move that would be perceived as major shareholder friendly, and bring the structure to a place that is reasonable?
Let's look at the #'s on the 50 mil. with a margin of 22 %.
50,000,000 x .22 = 11,000,000
11,000,000 / 140,000,000 = EPS .079
10 PE = .79
20 PE = 1.58
30 PE = 2.37
So, however you slice it, even if he delivers on the 50 mil, the o/s is just too darn high to get there. And let's face it, we aren't going to get that PE 30 unless we do something that would be perceived as very shareholder friendly. Retiring a nice chunk of the 144's would go a long way in that direction. Dexter could set up a win/win situation for himself, and the shareholders. Could you imagine the effect on the pps if they made the bold move?
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