RE:RE:RE:You make some good points ... goldsternp wrote: Stockholders equity per share was up 15% and that is not dilution.
From Page 5 2015 Financial Statements in USD 30 June 2014
Shareholders’ Equity $159m / 82.8m shares = $1.92
30 June 2015
Shareholders’ Equity $199.8m / 96.1m shares = $2.08
(2.08 – 1.92) / 1.92 x 100 = 8.3% which is a decent y/y improvement (not 15%)
From Page 05 2010 Financial Statements in USD 30 June 2009
Shareholders’ Equity $181.9m / 54.6m shares = $3.33
Conclusion Over the last 6 years the share count increased by 41.5m or 76%
Over the last 6 years the Shareholders Equity per share often referred to as Book Value decreased by $1.25 or 37.5%
In my part of the world we often say;
“If it walks like a Duck, Quacks like a Duck and Looks like a Duck it’s probably a Duck” If a 76% increase in the share count c/w a 37.5% decrease in the Shareholders’ Equity per share (Book Value) over a 6 year period is not Dilution what is it?
As Always; Do Your Own Due Diligence; It’s Your Money !!