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NTS, Inc. Common Stock Message Board

  • workallday997 workallday997 Apr 16, 2013 1:24 PM Flag

    NTS looks great but O/S question

    The question is whether NTS has finished increasing the O/S...as the company itself is making market penetration and is running a solid company...but going from 24 to 41mill O/S in a year is not good for shareholder value. Let's hope it stops there...bought some today, volume usually preceeds price.

    Sentiment: Buy

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    • Sorry to be more specific:

      As of March 17, 2011, there were 21,119,488 shares of our common stock issued and outstanding.
      As of March 20, 2013, there were 41,186,596 shares of our common stock outstanding.

      However, as of November 14, 2011, 41,186,596 shares of the Company’s common stock, $0.001 par value per share, were issued and outstanding. Therefore, it is encouraging to see that O/S has stayed flat since November 2011, so maybe the dilution was a one time thing. If so this could be very positive as the company has very attractive funding mix with government grants and low cost government long term debt.

      • 1 Reply to workallday997
      • From the 10k:

        Rights Offering

        On July 6, 2011 our Board approved a rights offering (the “Rights Offering”) in which our stockholders received non-transferable and non-tradable rights to purchase one additional share of our common stock, par value $0.001 for each share owned as of the record date, for a subscription price of $0.30 per share (each, a “Right”). Our stockholders who exercised their Rights in full were also eligible to exercise an oversubscription privilege to purchase, on a pro rata basis, a portion of the unsubscribed shares, at the same price of $0.30 per share, subject to certain limitations. The record date for the Rights Offering was September 22, 2011 and the Rights Offering expired on October 26, 2011.

        On November 2, 2011, we completed the Rights Offering and raised $6,020,132 from our shareholders for 20,067,108 shares of our common stock. Taking into account the oversubscription rights, there was a demand for 95% of the offered shares.

        Because the Rights Offering was at a price per share which was lower than the market price at the time of announcement, we authorized a reduction of the exercise price of our outstanding warrants by an average of 41.4% and approved the issuance of additional 3,728,775 options to our directors and employees at an exercise price of $1.10 per share. The adjustment of the exercise price of the warrants and the issuance of additional options was made to maintain the same value of the warrants and options prior to the announcement of the Rights Offering based on the Black-Scholes model.