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They NOW have 240 million shares outstanding!! That is up from 80 million shares in the last 10Q. Look at the company's cash position only $64000. The company has G and A expenses of less then $100,000 for the last 9 months. How many people work for the company?
I might be wrong but with a market cap of $240 million I think it is a strong SELL. Even if the plan they lay out goes as planned in 2 years they will have operating profit of $1 million. Assuming NO MORE dilution this would be .004 per share! At the current price the PE is 250. AND THIS IS STILL 2 YEARS AWAY!
THIS STOCK HAS A BIGGER MARKET CAP THEN THE COMPANY THAT MAKES SAM ADAMS BEER(symbol: SAM)
IMO this is not a BUY and HOLD! If you get in and make a quick profit then take it!
posted
There are about 237 million shares outstanding. This is after the forward 3-for-1 split that just occurred. This brings the market cap to about $142,200,000. A large percentage of the shares outstanding (roughly 80%) are in the hands of insiders/management/founders, etc. They probably have restrictions on the sale of their shares. The reason that the forward split was done was to introduce more liquidity into the trading of WLSF. Roughly 20% of the shares outstanding is 47,400,000 shares available for trading on a daily basis.
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The 240 million shares is because of the forward 3-for-1 stock split. The price was summarily adjusted as expected.
I agree that a 240 million dollar market cap is pretty lofty, but consider the possibilities. That's what shareholders are doing.
All things considered, especially the rise in share price today, led me to liquidate my positions in WLSF. However, I hope to be acquiring again in the future, only at a lower price.
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mr_geronimo: Thank You! Did that post look familar?
From company below There are about 245 million shares outstanding and approximately 80% of those are closely held, leaving about 50 million in the float.
If you have additional questions, please feel free to contact me and thanks for your interest in our company.
Best regards, Rosanne Baack Wellstone Filters, Inc.
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