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ENERQ.PK Message Board

  • yourdeadmeat69 yourdeadmeat69 Feb 13, 2007 3:32 PM Flag

    Didn't Approval To Issue 100M more shares just happen?

     

    Did we think that was all just for poison pill purposes or is this a portend of a stock offering?

    I was afraid of a dilution to raise cash, isn't that a discernable possibility?

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    • yourdeadmeat,

      At the annual shareholders meeting there was a proposal to increase the total number of authorized shares from 50M to 100M.

      These are authorized but unissued shares. Total number of outstanding shares at this time is just under 40M.

      Regards,
      Snoz

      • 1 Reply to justsnoz
      • snoz: >>>These are authorized but unissued shares. Total number of outstanding shares at this time is just under 40M.<<<

        Right. 39,525,000 as of Feb. 6, 07 according to the 10Q.

        And while things can change, and the credibility of management may not currently be at a highpoint for some investors, Jim has said more than once (once was at one of his Dog and Pony Show presentations---I can search it out if people really need the cite) that there is enough money to build through 180 (178) MW, then, other financing will need to be secured. He said the usual ...through equity or debt...and then said something to the effect "that at this time we would expect it to be through some kind of debt financing."

        I'm going to post this, but I'm going to try to dig out that quote---if the presentation is still available.