Key issue arround S/PSadly, MTB issued a "Mountain" of paper and in my opinion were not strategic with the pricing or timing. This unfavorable situation will take time to work through regardless of the underlying value of assets. Management and Capital Structure sure to keep a cap on this near term and will take some long investors to digest enough shares to let this move. Would need some substantial volume to set a new base and we need more longs than penny traders.
Perhaps JDN moving to the tsx will attract some investors with a longer term horizon. In fact, some serious investors could see this as a seriously undervalued play and will take the necessary action to fix the corporate structure and board make up. I'm pretty confident a better mix and strengthening the BOD would immediatley add shareholder value.
Until then, I will add to my position slowly and wait. The Stock is cheap today but that is all relative to what management decisions are made regarding capital structure and earn ins.
Good luck!
At August 31, 2010 and November 1, 2010, there were 11,582,625 share purchase options outstanding entitling the holders to purchase one common share for each option held at prices ranging from
.10 -
.18 per share. The share purchase options have expiry dates ranging from March 24, 2011 to May 27, 2015.
At November 1, 2010, there were 18,035,454 share purchase warrants outstanding entitling the holders to purchase one common share for each warrant held at prices ranging from
.10-
.15 per share. The share purchase warrants have expiry dates ranging from July 10, 2011 to February 24, 2012.
At November 1, 2010, there were 454,545 compensation units outstanding. The compensation units are exercisable at
.11 per unit into one common share and one share purchase warrant. Each share purchase warrant is exercisable into an additional common share at
.15 per share. The compensation units have an expiry date of September 21, 2011.