Re: Blunist didn't even last 24 hours !
in response to
by
posted on
Apr 01, 2010 09:46AM
My math errors sure cause problems around here...lol.
Allow me to clarify the dividend thing. I screwed up 1st of all, by not basing it on .0025 cents/share, and stated .025 instead. The 2nd mistake was not taking the dollars and dividing it by 13 cents. I don't know what I was thinking???
288,000,000 x .0025 = $720,000
Just for the maths sake, if every single share holder, and this would not be correct, has a selection on their account(s) to automatically reinvest dividends into shares on the date received, at 13 cents = 5,538,462 (rounded) added to the shares outstanding. We go from approx 288 mln to 293.5 mln....more dilution was my point based on this assumed senario. Obviously not every share holder does the reinvestment option, but the constant with .0025 declared is $720,000 depleted from the bank, or in the neighborhood of 25% of their hard earned cash as of today.
As I said, when we have 25, 50, 100 mln stashed away, it would be a great time to reward the share holders.
As of the approved proxy vote collected and finalized at the 2008 SHM, an additional 50 mln shares was approved, giving us 350 mln.
Sorry for my error, as it was unintentional.
I hope I have it right now...LOL!!!