Post by
Toasted2 on May 26, 2011 11:10am
Gotta wonder what management is thinking
First off...
Congrats to those that managed to get in on the recent bounce...or those that have held on to see a bit of recovery.
Second...
I have to say...Wow!
Not in a good way, but rather...Talk about having management muck up something that could have turned out to be far better for investors...
Think about it...
This company used to have a decent share structure and $ 8 million in the bank...and since they have diluted the he11 out of it and recently offered a "cherry" deal to some buddy of insiders...(You can't tell me someone would have snapped all of those shares if they didnt know something was coming down the pipe!?)
Tell me...Why wouldn't they have done a 43-101 first before issuing all those shares? It's still relatively modest and lower grade...but looks like a decent enough size.
Goes to show...Success with junior companies is all about the quality and integrity of management. (Seafield is obviously not included in what I'm referring to)
T2