Page 3 of 3 FirstFirst 123
Results 21 to 24 of 24

Thread: What Did You Think of The Conference Call?

  1. #21
    GetItStraight is offline
    Member
    GetItStraight's Avatar
    Joined: Sep 2008 Posts: 61
    Siriusowner - How they will more than likely do it is like this (assuming the R/S and additional authorized are approved):

    First, increase the outstanding shares to 8,000,000,000 (yes, billion).
    Second, immediately reverse split, let's say 1 for 50. At a price of .28 per share leaves us with 1/50th the amount of shares originally owned at a new value of $14 a share.

    Outstanding shares would be decreased by 50x (8,000,000,000 / 50 = 160,000,000) and price would go to $14 a share.

    What exactly are the benefits of this? One answer and one answer only - get us above the $1listing requirement.

    But you know what, who cares because what really matters is what our shares are really worth when it is all said and done.

    Assuming we give this stock a multiple of 50 and it happens to earn .10 a share at some point in the near future that still only leaves us with a stock valued at $5 per share. The shorts will eat us alive and it will only be compounded by the fact that we'll own a fraction of the original shares.
    Last edited by GetItStraight; 11-11-2008 at 01:36 AM.

  2. #22
    APEXSPORTS is offline
    Enthusiast
    APEXSPORTS's Avatar
    Joined: Oct 2008 Location: cambridge,ohio Posts: 214
    IT MEANS I LOOSE MORE MONEY

    LETS WORRY ABOUT R/S SPLIT IF NEEDED AT END OF JANUARY..

  3. #23
    vaporgold is offline
    Member
    vaporgold's Avatar
    Joined: Oct 2008 Posts: 57
    Yes, the shorts will have a field day because of the dilution.

    The other thing to keep in mind is that there is a very good chance Mel needs the other shares to service the Feb, May and Dec notes.The dilution will even get worse.

    They said it in the 10Q, they will use stock to service debt.

    Vote no
    imho
    vaporgold

  4. #24
    APEXSPORTS is offline
    Enthusiast
    APEXSPORTS's Avatar
    Joined: Oct 2008 Location: cambridge,ohio Posts: 214
    I BET THEY DILUT SHARES TO 4.5 BILLION PAY DEBT WITH SHARES THEN REVERSE SPLIT THE STOCK AS A PLAN B IF THEY CANT GET REFINANCING

    THAT WOULD CUT SHARE PRICE FROM .26 TO .18 THEN 1/50 SPLIT TO 9.00$ A SHARE WITH DEBT PAID? SO MY 35K SHARES WOULD GO TO 700 SHARES AT 9 IS 6300$ AND I AM 1.13$ AVE THAT IS A 39,550$ INVESTMENT SO TO BRAKE EVEN SIRIUS WOULD HAVE TO TRADE AT 56.50$ PER SHARE..

    WOW ON THAT NOTE IM GOING OUT TO DRINK SOME CHEAP SCOTCH..

  5. Ad Fairy Senior Member
Page 3 of 3 FirstFirst 123

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •