Here's the thing I don't get though...Joey has 26+
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Posted On: 11/05/2017 11:08:07 PM
Re: Usranger69 #3719
Here's the thing I don't get though...Joey has 26+M personal shares and if he knows its tanking (and his shares will be worthless) why wouldn't he have sold some in the past 2 months?
What he should do is let half go to a deep-pocket, step aside, cancel the rights offering to avoid massive dilution, and let "new blood" take control of this concept and expand it ?
NOBODY wants massive dilution and that is what the rights offering brings...a MAJOR increase in o/s for maybe $4M cash, if that ?
The way I see it, Joey gets ousted no matter what, I would rather keep dilution to a minimum, sell half of or even 2/3rds of his personal shares, and get this into the hands of someone that has been there and done that w/ startups.
He's got a wife and 3 kids to consider and why not walk away with some money and shares that could be worth something rather than being WORTHLESS. Can you imagine a PR that states rights offering canceled, new Mgt in town, and expansion of 4 locations ??? Think a scenario like that would raise PPS ? Is he really going to sink the ship here with 26.3M shares in hand ? I would doubt it as even 10M shares at 50 cents is so much better than 26.3M at 3 cents (or less). THINK
** Also, see that accum/dist line lately ? Who's been grabbing shares since 9/25 ?
What he should do is let half go to a deep-pocket, step aside, cancel the rights offering to avoid massive dilution, and let "new blood" take control of this concept and expand it ?
NOBODY wants massive dilution and that is what the rights offering brings...a MAJOR increase in o/s for maybe $4M cash, if that ?
The way I see it, Joey gets ousted no matter what, I would rather keep dilution to a minimum, sell half of or even 2/3rds of his personal shares, and get this into the hands of someone that has been there and done that w/ startups.
He's got a wife and 3 kids to consider and why not walk away with some money and shares that could be worth something rather than being WORTHLESS. Can you imagine a PR that states rights offering canceled, new Mgt in town, and expansion of 4 locations ??? Think a scenario like that would raise PPS ? Is he really going to sink the ship here with 26.3M shares in hand ? I would doubt it as even 10M shares at 50 cents is so much better than 26.3M at 3 cents (or less). THINK
** Also, see that accum/dist line lately ? Who's been grabbing shares since 9/25 ?
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