OTCPK:ERILF - Post by User
Post by
Steelironmanon May 15, 2013 7:19pm
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Post# 21406371
60 M more shares
60 M more shares The good part of this is that it adds $3M to their books and probably gets EIL to meet banking covenants.
Another positive is that the book value is just under $0.04 so they are actually adding a small amount to book value.
The down side is that there will now be over 250M shares out plus a huge number of warrants.
It will now take $2.5M of earnings to make $0.01 per share and with all the warrants out, the max value of this stock will probably take a long long time to getoveer $0.10 as they can keep converting to increase no of shares.
I had hopes for $0.20 for this stck in the future but this will now take a long long time.