what aloud of crap!, page-11

"I am taking a range and that range until 1.5 weeks ago had the market cap over 1 billion. In other words the company has been at least worth a billion for 6 years. The point I'm trying to make is its value has been built and sustained over 6 years."

@Kakala,

Unfortunately, that's completely flawed thinking.

Reason being is the the Issued Share Capital of the company over that 6 year period has gone up by almost $800m due to the issuance of new shares and the conversion of options into new shares.

So almost 80% of your market value reference point is due to the raising of new capital, and not to the preservation of existing capital, which is your claim.

Even a knucklehead like me would be able to keep market capitalisation levels elevated if capital markets were at my disposal and I was able to continually tap into them.

The problem arises when those capital markets become less receptive to being milked.

Which could be what we are seeing at the moment....