RE: RE: When willl the lights go on stockholders?romara asked: "Does anyone one know what the "what if" is....if they do not get enough "Fors" "
No one can know for sure, but anyone that was invested in North Sea oil company Oilexco last year would know what happened there. In June 2008 the stock had reached just under $20 and the sky was the limit, with many analysts predicting $30 and $40 a share in no time. The bulletin board (one of the best and most informed in Investor village) had a number of paper millionaires at that time.
Through a number of operational snafus and problems with their main bank as a result of the credit crisis, and management action or inaction (Dusty would have been really proud of them) they were brought to their knees by November, similar to the liquidity situation we find ourselves in. Management finally woke up and negotiated a deal with a number of brokers that was very highly dilutive to existing shareholders. Shareholders were in an uproar and the Board of Directors refused to endorse management's action, so the deal fell through and there was no dilution. My view at the time was that management had no choice, and better to have that dilution than the alternative. Well, on December 31,2008 they went into bankruptcy protection, notwithstanding the wonderful asset package they owned. Last month, before it was finally delisted, you could have got 1 cent per share. Now it is fully gone. Had it survived with the dilution, I suspect it would now be trading probably in the $5 + range. Not as good as $20, but much better than 1 cent.
This is not a popularity contest. Each investor has his/her hard earned money invested. Each investor has to make his own choices and live with the consequences.
By the way romara, I much appreciate the constant flow of information that you have been able to get and share with the board.