background info on mst, page-4

CJS & Myronc,

Heres my calc on the total (possible) number of MST shares that could potentially exist, failing any further issues of new shares.

Current Issued 1,613,948,587
Conv Notes & Secured Notes if converted 1,889,601,426
Options (listed and unlisted) if exercised 1,101,232,667
Total 4,604,782,680

Yeah, nearly 5 billion shares.

Now, a couple of things to keep in mind;
1) If the convertibles are converted, then that eradicates about $19m of debt - a good thing
2) If the options are exercised, the company would get about $22m in cash from the option holders - another good thing

I agree that the view here has turned positive by and large. Unfortunately the share price does not (yet?) reflect the handful of views here. BUT, the rot seems to have abated.

We do need something more substantive than just the current PNG contract for MST to truely turn the corner, and we need to see something fast (before the year is out). While the $300m 3GL discussed here would be fantastic and change the fortunes of the company instantly, I don't put a big weight on that possibility. I would be happy with a $20m contarct to start, with the possibility of more. I think that would put MST on the radar of a lot of potential customers.

CJS, your observation on the ADRs may be correct, I don't know, but there's something there. Let's hope it was some insider buying ahead of an announcement that is on its way!