OK. 101.
1.3B shares entered the publicly traded market. At what cost basis?
.5c? = $6,500,000
1c? = $13,000,000
2c? = $26,000,000
At what price do you think Eric initially sold these 1.3B shares at?
The week of May 15, 2006, WNBD traded 23,900,000 shares for $11.9M* dollars alone!
The week of June 5, 2006 (only three weeks later) WNBD traded 64,551,700 for $24.5M*!
* Dollar amount calculated at week's "Daily Low"!
Eric had plenty of capital at his disposal. So, where did it all go?