I thought we paid $7.5 million in cash, picked up debt of $18...

I thought we paid $7.5 million in cash, picked up debt of $18 million and issued 30 million shares which are worth around $9 million and the shares will be entitled to around $1.5 million in divis almost immediately if we pay out at the same level as last year. That seems an awful lot to pay for a trucking company with essentially one client.
On a slightly different tack, a purchase of such magnitude with a sizeable dilutionary effect on existing shareholders, makes one wonder about both the morality and the sensibility of the board going it alone on the decision. This is the third company I am a shareholder of to do such a thing and in both previous cases the results have been disasterous with write downs of over $150 million within short time frames. Boards that use power in such situations need to be more thoughtful of the Company owners before they proceed. Prior consultation on any level is sadly lacking which is a sad reflection of abuse of power.