Welcome To The Spider Resources HUB On AGORACOM

First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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Message: Bou_17

Re: Bou_17 Pej

in response to by
posted on Jun 12, 2008 09:08AM

It's the same IBH. Whether or not it is a great example depends on one's perspective. My investment was dead for quite a while and I did not expect much from it. The chart only allows one to go back 10 years. I was in 15 years ago so the full look at it from the chart isn't possible. But to go from mere pennies to over $1 excited me. From my point of view I was happy. How it did later surprised me too, but I was gone. You and I agree on most of what you say. Most RS's do go sour and turn out lousy. That is because most companies are in trouble regardless of the RS and were going to go down in any event. I think with SPQ at 242 M shares outstanding is far too many. It sends a bad signal that the company has not had success and had to issue shares too many times to raise money to keep going. Now the prospects look a lot better. The report says the RS cannot be for more than 1 for 10. At 10 the SO's would be 24 M. The company uses 310 M and after 31 M. That is too few and makes the stock too illiquid. Too many or too few is not good. So I expect about 1 for 6, if they choose to go that route. I expect they will. I wonder if it will pass. I couldn't find who are the largest holders., except a guy from Wpg. with 3.2 M and Neil N. with 1.4 M. That isn't enough to assure passage. So it will be interesting.

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