Pokey, you may have a point there. I was thinking that we are doubling the shares, however the noteholders and insiders don't get the 1:1 dividend. So let's figure this out...
If we have about 64M shares and $20M are being retired, we then will have 44M shares. I remember somewhere Joe saying that about 25M shares will get the 1:1 dividend and the other 19M won't. So now after the dividend we have 25M times 2 plus 19M, so about 69M shares. So if we have a price of $3 upon the dividend payout, we had 64M shares initially times $3, is $192M market cap. Now after the dividend we have $192M divided by 69M shares, so $2.78 per share. I also remember Joe saying it would be about a 13% dilution, so $3 should go to $2.61/share, so that means my numbers are off.
Ok, forget my last bunch of posts...we are going to $100/share...lol. Let's just wait and see how it all works out, but I must admit I was incorrect in my calculation of get cut in half. Sorry all.
Not sure I agree on this one as not all shares are eligible. We should end up on the + side of 50% value after the div. Even if the retired share are factored in prior.