Originally Posted by
flyingkangaroo
Yeah it will have to be about 100 to 1. They just approved about 800 million more shares so that should dilute the shares to pennies... I'm sure that JO will find some way to screw everyone though... My guess, he drops the stock down to .02 while the bondholders try to cash in and get any bit of money they can, he gets mesa out of its debt obligations and then buys 500 million shares at 2 or 3 cents. Immediately after that MESA announces a company stock buyback making him a billionaire, he then buys delta and American and the entire US aviation system collapses causing a catastrophic worldwide depression and the US is turned into a third world country...
flyingkangaroo = JO?
Side note: Just because MESA is authorized to issue up to 900M shares doesn't mean they will. MESA can issue anywhere from none to 900M, so the stock price won't actually be diluted until MESA knows the price of the stock the shares will be issued at. The price will be determined on a 5 day average sometime at the end of the month.
OO.