Onewhodoes
Calling after each PR to check dilution is very smart imho. The doubling of the A/S, to 500M which was not too long ago in this case, was a red flag for dilution. Imo companies usually know they will need to use the shares b4 too long and can then dilute as needed.
INTK o/s DILTUION pic according to the financials on pinksheets.com (Check the Qs June 2010 then the Ks the listings are on page 3 or 4 of the statements.) I could have a typo or some bogus math, if so pls correct me.
Current level of shares -(subtact) Previous level = delta =divide by the Previous level = % of growth in shares hence dilution %.
Dec 2003 = 158+M
Dec 2004 = 158+M
Dec 2005 = 161+M
Dec 2006 = 161.9M
Dec 2007 = 165.6M Very acceptable up to Dec 2007, but then BOOOOM
Dec 2008 = 179.5M +8% dilution
Dec 2009 = 221.4M + 23% dilution
June 30 2010 = 283.4M + 28% dilution
June 30th 2010 til your last phone call to TA the O/S went from 283.4 to 343M shares o/s? That's +21% more dilution since June in like 3+ months? It totals 49% more dilution this year can that be right? Not to dispute you but wow that is a ton of dilution just prior to this spat of good news lately. imo You have to wonder about the timing of many more shares issued vs news generating the rally. Happens a lot with pinkies and hence I tend to think the worst of them and I am not usually disappointed. lol Guess I am not much on coincidence.
From the looks since Dec 07 Intk has more than doubled the # of shares?
343M (now) -165.6M (Dec. 2007) = 171M+ dilution shares; currently more than halving the original value in 07. If the company doubles in size and profits I guess that would be ok since the delta in value then I guess is 0. not sure on that but it would be more excusable in my book anyway.
jmho, but looks like the stock is serving as an ATM for funding operational needs, that is a just a SWAG, but that would lessen the need for SB or anyone having to loan the company more.
Imo the dilution is one main reason the trade volume is so high, now we have a huge trading float for a tiny company.
Pls check pinksheets.com, maybe my math is wrong or I have a typo, hope so won't be the first time. You might also double check that TA number. Anyway it is prudent to monitor dilution with any company, not just Intk.
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