IKN made reference yesterday to Trevali (TV.to) and its propensity to dilute the living sexual intercourse out of its share count, but what does that mean to you, dear reader? Well, take a look at these two charts:
First here’s the market cap of Trevali at each quarter end. We get this by using the filed number of shares outstanding (thank you SEDAR), plus the share price at end quarter (thank you TSX website).
As you can see, since end 2010 TV.to has changed from a $100m market cap company into a near-$350m once this latest dilution is factored in (presumably it’s closed before end 2q15). Yes indeed TV.to is a growth story, getting bigger and better and all sorts of capitalist wonderful, right? Well yeah, except for one group of stakeholders:
You guys at retail shareholder level have watched TV.to the company grow, but TV.to the stock flatline. All the pain, none of the gain. And to be clear, the descriptive noun for somebody taken advantage in this way is “sucker”.
UPDATE: And the bot deal gets upped to $30m. You can’t make this shit up.