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You're missing the whole point - was the company ever worth $200 million?. At
the current price of $3, the company has a market value (including Cruz's
retained shares) of $50 million. Considering the Cruz's took out $20 million
from the IPO, maybe they really cashed out the full value of the company--you
can't have a paper loss if you took everything out already. Maybe their current
retention should be called windfall profits and there's another name for the IPO
(and subsequent investors).
Robert W Cummings wrote:
> >
> Here is the way it goes Cruz did sell his company to the public when he went
> public at the Ipo price that was recorded. Problem his he can sell some of
> it but the majority of it is 144 restricted stock and has to be held either
> 18 months are two years can't remember. The SEC does this to keep fly by
> night companies from just going public to line their own pockets at the
> expense of the public. So at 3 bucks a share the Cruz's have lost a bunch of
> money of late from 11 bucks a share ouch!!!!!!!! and paper loss is very real
> just unrealized but its the only way it could be realized.
>
> Robert
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