TPB, I am amazed!TPB,
Why do you waste your time with the mentally ill? Millright, and the other delusional LBE bagholders, are in a state of denial and simply engage on vicious attacks on anyone who dare state the truth about LBE. The Chinese are in control of this company; its debt, it cash flow, its profits, its very soul! How much profit would have to be realized for each shareholder to see a 10 cent dividend per share? At 186,000,000 shares outstanding, and $1,650,000 owed to JJ for the preferred shares per year, LBE would have to make $18,600,000 plus $1,650,000 (or $20,250,000) in profit. That would be approximately $26,000,000 of gross profit as taxes would still have to be paid on any profits. So you would think that you would need $26,000,000 of gross profit for the LBE shareholders to each get a 10 cent dividend per share – NOT! The Chinese are in control of this company and they do not have to give one cent in the form of a dividend, LBE minority shareholders are at their mercy. With only five years of minable resources left, and not taking into account the additional costs of exploration,borrowing, permits, etc., shareholders will bail on this pig long before it hits the wall. In the event a new sizable NI discovery is made, the Chinese have the option of converting their preferred shares to common shares diluting the LBE minority shareholders to a mere 23.7% of the company. If that were to happen then it would take $37,200,000 of profit, or approximately $52,000,000 of gross profit for each shareholder to get a 10 cent dividend per share. Where is the opportunity here? The Chinese would see 76.3% of the $37,200,000 leaving the minority LBE shareholders with no real potential for return on this POS. This is why this company is trading at current levels. It just amazes me how blind some investors are.