That was b4 we were selling at .019...Mgmt had to take advantage from the mana-from-heaven. I'm just suprised it was only 50m. Ya gotta admit, there IS a difference saying don't need to sell shares when we are at .003 and the cushon the Co gets from selling 50m (and makin the OS an even 2.3 bill) at approx (best guess) 1.3-1.5 cents.
If you know business! Then you know it takes time for accounts recievable to catch up with accounts payable! BW is doing the right thing currently. If you have a problem with that then you have never been in business for yourself or truley do not understand business. I have operated my own and have helped start up alot of business very successfully, this is norm. To me BIG friggen whippddddyyyy whip. Things take time and the time is happening NOW
There are a couple of possibilities on the 51M shares.
One is he has mentioned on at least 2 occurrences in the past couple months that OS is 2.4B (slip of the tongue? It was 2.249B in last Fins as of Jun 30, 2012. Two point two-four billion could easily roll off as two point four since four is right after the two). In this case 51M new were issued after June 30 because on Sep 19th (reaffirmed at end of Oct), TA told me 2.3B. It might well have been 2.3B already when he pointed out in June that there would be no more dilution, but I don't think so. PPS was cheap back then.
Second, since he said no more dilution in mid June, he did not realize this was headed anywhere near 1 cent, let alone 2. I think he saw the 1.5 cent as a golden opportunity, knowing PPS was pretty overvalued, and issued the 51M at that time. At $.015 X 51M = $765K. In the previous 4 qtrs, he issued 1.9B shares at an average price of $.00038 to raise a total of $728K. He got more money out of just 2% dilution (third week of Aug? was run peak) than the previous 4 qtrs of 550% dilution. This would be a good reason to go back on his word in June. He got enough operating money to fund the incredible growth hitting his books, which is good for shareholders. Remember that the company should buy back at as low a price as possible, but it is equally savvy to sell at high prices. I don't blame him at all for doing the best thing, given the unexpected PPS movement way north.
I think the second scenario is the most likely. The naysayers will vote for a third scenario because it suits their case...he just lied and sold to feed profit into the private corporation and he will continue to do so...maybe, but he hasn't issued any more than the current 2.3B, when there was (and still is) room for more at an AS of 2.495B. Surely he would have sold up to the AS if that were his intention.
Here is the detail. If you add up all the shares for 4 qtrs ending June 30, 2012 and all the money raised, you get 1.9B shares and $728K.
Garyst, I was getting tired of some negative posters calling Brian a liar so I located a post from you on the same day as the message from our CEO stating that the company isn't selling any more stock. You stated in that post what the SS was the day before when you checked with the TA.
As I suspected from that post the SS has "NOT" changed and that our CEO is "NOT" a liar as some posters have stated!!!!
This is your post from Aug 23rd
But then we even have Olaf calling Brian a liar
From all the posts and CEO messages that i've read since the CEO message of Aug 23rd I find nowhere where he has lied about selling more shares!!
Posters really need to have "facts" about our CEO selling shares before calling him a liar!!!