Well we know about the imminent dilution disguised as a share dividend. We know this, because this management group has done it quite a few times and each time it's resulted in a lot of people losing a lot of money.
The funny thing is the believers who think we're trying to save them. I don't think any of us have told anyone not to buy. In fact, I always encourage people to put their money where their mouths are. If someone wants to buy, then they should do so with purpose. If several people came over to the board of a stock I liked, right after a PR, and said "hey everyone, this is the exact same thing thes people have done before, and here's how it turned out....." I would definately take notice.
I wonder if this new group of people wanting to get fleeced know about management previously sweraing on the lives of thier children there was no dilution occurring while dumping 12 billion or so shares. I wonder if those believers who say "everything they say has to be true, or they won't get away with it!" know about this same restaurant being stated as a $4-$5 million asset before. Or do they know about the recorded radio shows and phone conversations where the CEO boasted about the company assets being worth over $30M. How about the press release by this same management where they call the company ridiculously undervalued with 800M shares outstanding, at the same time they are dumping over a billion.
Do you think these new shareholders have any idea of how seperate PRSU is from the Sanibel Group, and that they will have no claim to the protected subsidiaries? Maybe they don't know how this shell game works, or maybe they aren't asking themselves why the company doesn't own assets outright, rather than control 'wholly owned subsidiaries'.
Anyway, it's obvious we need some more living examples of people who have suffered the aftermath of what this management group leave in their wake. It was hardly more than half a year ago they were going to 'make shareholders rich with a share dividend', and there are plenty willing to fall for it again.
It is, however, good to see you and the others, all of us much wiser for our experience, but still a rare breed taking the time out to share an experience with fellow investors.
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