“WebSlinger appears to track KBLB’s share sales to Yorkville on a daily basis. He has published cross-checks of his reports against SEC filings and has always been on the nose.”
He notes conversions and yet somehow the number of shares still needed to pay off the debt never seems to drop. Doesn’t that seem a bit peculiar?
Add in that he is using flawed numbers for his balances and you can see why I mm suspicious of just how accurate he may be.
I’ve checked my numbers with Ben. Slinger insists everyone else is wrong because he says so. That’s not enough for me. As neutral as those opinions may seem, I think I’ll stick with the facts.
“My understanding of the current disagreement: it can be traced back to one of the quarterly reports. I have seen errors in the quarterly reports published by KBLB that indicate a lack of attention to detail. Usually these get fixed up in a report or two.”
So you’re perfectly comfortable baking in flawed logic and assuming the company will one day update their filings to reflect those flaws? Okie dokie.
“We will see what the next quarterly report says. I expect to see that WebSlinger’s accounting has been accurate all along.”
I expect you’ll both be disappointed to find out the debt outstanding is far less than has been offered up by some, as it was in the last quarterly. Apparently we’ll just need to wait for the company to “correct” it to the wrong numbers.
“Paying back debt is not a bad thing per se, as you have noted.” Yes i have.
“Withholding good news that would increase the share price and reduce the effective dilution is a seriously bad thing.” Guess that depends. Some would argue releasing good news during a heavy conversion time, with the weight of a low 10 day MA dragging those conversions down further, could significantly dampen any run one might be hoping for from the release of this news. Some might think it’s best to wait, as painful as that may be, and release news without the headwind of conversions. Guess that is a matter of opinion as to whether it is the best course of action, or not. I’ve been wanting them to release for some time and fight through pushing the 10 day MA higher but it’s not my call.
“Withholding bad news that would further drop the share price would seem a good idea, but it means we are still waiting for bad news.” Or waiting for the solution to be announced without airing the challenge prior to finding a solution. Kim has chosen the latter approach (having a solution first) before so would not be unprecedented to do so again.
“Thus we are either in a situation where KBLB gave millions of unnecessary shares to Yorkville or KBLB is hiding bad news that will further harm the share price. Which do you prefer?”
Under the false pretense of there only being two options (both opinions on what may or may not be happening behind the scenes) and neither, on the surface, would be ideal? Think I’ll pass.
My belief is news is on hold until conversions are done and conversions are nearly done. We’ll find out soon enough if that’s true or if we still have a nearly stable 25M or so shares to work through. Frustrating how that number never drops.
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