-bash-4.2$ ./bootstrap
aclocal: warning: couldn't open directory 'm4': No such file or directory
libtoolize: putting auxiliary files in `.'.
libtoolize: linking file `./ltmain.sh'
libtoolize: putting macros in AC_CONFIG_MACRO_DIR, `m4'.
libtoolize: linking file `m4/libtool.m4'
libtoolize: linking file `m4/ltoptions.m4'
libtoolize: linking file `m4/ltsugar.m4'
libtoolize: linking file `m4/ltversion.m4'
libtoolize: linking file `m4/lt~obsolete.m4'
configure.ac:14: installing './config.guess'
configure.ac:14: installing './config.sub'
configure.ac:2: installing './install-sh'
configure.ac:2: installing './missing'
src/Makefile.am: installing './depcomp'
-bash-4.2$ ./bootstrap
libtoolize: putting auxiliary files in `.'.
libtoolize: linking file `./ltmain.sh'
libtoolize: putting macros in AC_CONFIG_MACRO_DIR, `m4'.
libtoolize: linking file `m4/libtool.m4'
libtoolize: linking file `m4/ltoptions.m4'
libtoolize: linking file `m4/ltsugar.m4'
libtoolize: linking file `m4/ltversion.m4'
libtoolize: linking file `m4/lt~obsolete.m4'
Note the "aclocal: warning: couldn't open directory 'm4': No such file or directory" warning the first time it's run.