I guess the "warrant" call is now clarified
posted on
May 19, 2011 10:44PM
The company needs the capital to pursue the added drilling and can do so without going through the rigours of additional equity financing.
I have suspected that some of our recent share fluctuations have been retail investors needing to sell their current shares (at a profit) in order to raise capital to purchase the .45 warrants.
I find a continuing "myth" amongst participants that everyone out there has limitless capital and therefore should never, ever sell a share. In a venture like this one I believe there are lots of "mom and pop" investors who want to participate but don't have all that much discretionary capital to spend on these type of situations. Would be nice if this is one of those scenarios where the outcome benefits everyone from the Richardson level right on through to those pensioners who have taken a "wild shot" in hopes of brightening their retirement.
For purposes of disclosure I fall in the great middle ground. I am certainly not in the Richardson category but neither am I in the position of "needing this to come true". That doesn't stop me from hoping that for some people the "grabbing the brass ring" can happen once in a while.
Onward and Upward.