these guys are a joke

Just went through the last 5 or so announcements to try and see if there is anything positive APART for the company continuing to trade.

What i have noticed is that there is not one announcement which spells out exactly how many shares becton will have post this refinancing.

What it does say however is that should all debtors involved in the refinancing take up their options in 5 years time the original shareholders will be 5% of the total shares on offer!

5%!!!!!!! holy hell. what is that as a percentage increase in the number of shares?

Anyway so if 204mill shares is 5% then 100% should be just 4.8 billion.

4.8 billion - despite some very positive thoughts on this forum about future revenue i wonder what EPS will be with 4bill shares on offer?

Ok fair enough you say - Maybe i'll just get out on the next rise?

Not likely! Given that each BECG note cost 25cents and BECG holders are going to be offered 25+ shares per note there is going to be a significant cap at 1cent as im sure that plenty of holders will be looking to get out should they ever get close to breaking even. Thats 530million shares just waiting to be dropped onto the market if things improve.

Looks like BEC and i are going to be spending a lot of time together.

Someone tell me its not that bad.....