You way want to reconsider that. I realize how you feel, but taking that much off the table may not be the best way to go about it, think about it. By reading the PR on the buyout discussion, read between the lines and determine for yourself how much you think the buyout offer will be, and there will be an offer, believe me because i seriously think they will go through with it, they will profit from this move hugely and won't have to deal with the public market crap and the whiny shareholders and all the costs that are associated with being a publicly trading company. The PR states .0035 PPS for just cash alone ending the year of 2006 without any multiple. That doesn't even include the last 2 and a half months of profits and cash in the bank which is likely to be at least double of what the .0035 represents from Q4 of 2006. Also, shareholders equity is roughly 107 million and that puts a buyout pps at .019 given 5.6 billion shares. Also keep in mind that in the past with other stocks, the apparent buyout price is always higher than the current PPS at the time they announce the buyout. So no matter what, you stand to make more money by at least holding your shares until the buyout takes place unless this stock shoots up to .01 or more in the coming days. And in that instance, it may be smart to sell and wait for the PR telling us about the buyout and what price, and when that PR is released then jump back in if the offer is more than the current pps so you are guaranteed more profit. I think you will regret selling at this level because the main reason for the company to buyout all the shareholders is because the market is not accurately reflecting the value of the company and there is an apparent short position on this stock. Now, if the PPS shoots up a few cents before the meeting Thursday (as what it should be in the companies mind and in ours), then they may keep an open mind on the buyout issue and hold off on that decision if the PPS reflects the value of the company which means you will make a hell of a lot of money. On the other hand, say the PPS doesn't go up to where it should be in there minds by Thursday's meeting(which again, is the reason they are discussing a buyout), this will also gaurantee you a higher pps for you given they do a buyout which is without a doubt going to be more than .0035. There is not much downside to this and sometimes you have to take a chance when the odds are in your favor. Its up to you, just trying to shine some light on your thinking so that you can make a more educated (although much speculation)decision instead of selling on impulse as you come home after missing the action on Friday. I wish you the best.
NOTICE EVERYONE:look at the accumulation line, it is at an all time high, believe me when i say that this thing can move and move fast even if it does have a 1.2 billion share float given that the accumulation stays that high. That means there will be more shares in tight hands and not many people selling. The DEMAND this week will be HUGE while i believe the longs will most likely hold, causing a scarcity of shares in comparison to the demand.
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