Lets assume youre right and he's losing his ass on his horses (Newsflash..he isn't). Probably been breakeven at best for him to losing a bit each year. But again lets assume youre right...WHY IS THAT A BAD THING FOR SHAREHOLDERS? If anything if he's bleeding money every month/year it will make him even more motivated to get his shells merged not less. You have it all backwards. He needs CASH FLOW! And he isn't diluting. The OS has stayed the same here forever. So think about it Einstein how else is he going to make a ton of money in a short period of time? I'll let you think about that one...