Counsel Corporation CXSNF

What did I miss?

[Backwardblade]

I read the financials (albeit a little quick ) and can't figure out what the drop is for?

-Is it the one time gain in income which without it we would have made didly?
-Is it because Lazarus is steppiing down?
-Or is it the 20 million share dilution?....which shouldn't matter anyways, as we already owned it and, it seems to me they are just alligning the share structure.  ie Cancelling one set of shares and replacing them with others and a little bit of cash.

We seem to be generally up on everything else.  

A little enlightnement from the peanut gallery please.

BWB

[stocks2sell]

Nothing new good quarter and the stock drops. Getting really tiresome I would say

[pacer217]

That's about it; one stockholder dumps 20,000 shares (total volume to 10 am was only 29,500 .) It has already recovered .09 cents in next 25 mins.

[Makemoney3]

Market doesn't like the stock dilution....it gives the perception that mgmt is enriching themselves at the expense of shareholders. Rightly or wrongly, the 10% drop this morning seems to reflect this outlook.  Q was good overall. Company is performing well. The share class structure issue timing sucks given the recent runup in the stock. Something like this would have been better to

[alltruth]

we all just got diluted by 18%...thats why the stock will drop by 18%

[Scotch12]

My understanding is it is not really a dilution. The people who would be getting shares are already equity holders as a result of KC holdings. When they announced the financials they often say earnings attributed to sharehodlers because of this. I see having just one group of equity holders as a positive. The share price appears to have turned around so it may have just been a knee-jerk reaction.

[gibbonsj]

getting rid of the Series C is part of the startegy to clean up the ledger for the bank application. One step closer. It also demonstates a good deal of insider confidence to give up a sure thing in return for common stock. Got to follow the money.

[eagleflying]

just simple question. the 20 million share will add to total of CSX share or not? thanks

[gibbonsj]

bet those who did not understand the conversion and the reasons behind it are kicking themselves. Up 13% from the bottom.