Cowboy, of course a tax right-off is just one very strong possibility. I for one would not do such a thing, because it is damaging to the morale of the faithfull long-term shareholders when the PPs drops so fast. I buy on the DSPP program and buy on the open Market. If I had bought 700,000 on the open Market at .80 I would take the loss and buy back in January, however I would not dump all at once. There are many wealthy shareholders that are here only for the money and couldn't care less about the share price, or what they might do to hurt others and thats a fact of life.
On the other hand the company needs to fund operations going forward and they choose to fund direct with a DSPP program. Can you imagine what the OS would be after 20 years of no oil if they were funding differently? Currently 357-mill is not much at all, IMO.
The $100 million offering will most likely come with the next Major Zion Oil anouncement, no need for that amount of revenue at the present time and I'm sure the company has the shareholders best interest going forward. JMHO
I look at the bright side and will be taking advantage of this last minute sale before the Zion Oil breakout in January!
HAPPY NEW YEAR EVERYONE, THANK YOU JESUS FOR ZION OIL & GAS!
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