RE: RE: immediate effect? Obviously it's not the exact news everyone was hoping for. I'm not sure why anyone would give this company 21.5 million dollars with the way it's been run so I'm actually impressed with that. There are a lot more shares to dillute what we currently have, but they're also adding 21.5 million to their balance sheet. Pay off their debt that is being charged 15% a year and we come out 1.5 million a year ahead in cash flow alone. Plus there is money to actually drill some wells. Honestly I thought the company could be bought for 20 million, so to get that for some shares is actually a decent deal, but it also tells me that Kehoe got some decent offers, just nothing high enough for him to excercise his options, so I'll really be happy with this if he's canned, which he most definitely should be.
At this point I'm happy with the fact that something actually took place, lets face it, our shares were trading at 1 cent, it couldn't get much worse.