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Internet Gold - Golden (IGLD) Message Board

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  • qresearchq qresearchq Mar 4, 2007 1:00 PM Flag

    2008 cash flow - 5 multiple

    My 23.5 million share count came from the latest earnings conference call. I asked who were the minority shareholders and where did the increase in share count come from in the Dutton report. Share count increased from 18.43 million to 19.80 million. The CFO indicated that the bonds and warrant holders were starting to convert into common shares. He indicated that if all were converted it would yield between 23 to 23.5 million total shares. These were the bonds/warrants issued about two years ago when they raised the $53 million or so. The good thing is that it reduces the total debt of Igld.

    I think that the bonds and warrants need to be converted into common by a certain date.

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    • Pull the 20-F filing from last June and look in the notes to the financials. The terms of the converts are clearly spelled out. I reviewed the notes and looked at my math again. Yep, it was VERY expensive debt. The CFO is either clueless, or lying. But, what do you expect from an Israeli?

      And the convert debt and warrant holders are killing this stock unnecessarily. THEY ARE MORONS.

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