Being fairly new to the board, I've not read every message and wouldn't know all about what has been hashed out before or whether or not what has been hashed out would lead me to know the actual and factual end result, hence my asking the board and IR.
I'm sorta at a loss as to how to go about asking IR about what "Bankshot" wrote about at Post #73310 partly because I don't fully understand what s/he was trying to impress upon when s/he wrote:
"He shafted everyone with the so-called-buybacks ("retiring" shares, actually recission of shares)...
They gave out 500,000,000 shares. And got back 49% ownership in the two entities (NMED and Global Media).
So...that means you (NTEK) owned 49% of the 500,000,000 shares.
49% of 500,000,000 shares comes out to 245,000,000 shares.
That NTEK owned, that you owned.
At $0.1395 per share those 245,000,000 shares were worth $34,177,500.
At $0.06 per share those 245,000,000 shares were worth $14,700,000.
Instead they "retired" them and doled the rest out to...??? < See filings."
My immediate concern is whether there is something in what what was written that should be heeded and if so why. Could it be that the retired shares (or rescinded shares, as they put it) were bought at prices which haven't been disclosed and therefore we don't know if the company overpaid at .139 or paid anything at all. Or is it because all those shares were considered by 'Bankshot' to be a form of equity to the company and shareholders that has since disappeared and gone to who knows where? I presume they went back to the treasury or where they originally came from and s/he raised the question that I suppose hasn't be answered by the company to their satisfaction. I question the logic somewhat because I was under the impression that reversal of dilution is a good thing but if the shares didn't actually disappear but found their way into someone's account or something similar, I was thinking that is one of the questions "Bankshot" was inferring.
Yeah...I think it was Reagan who used "trust but verify" while at the same time crediting the saying 'to' the Russians.
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