Form 8-K
"As previously announced, on May 22, 2014 the Company’s stockholders approved the proposal of a reverse split of the Company’s common stock. The Company’s Board of Directors subsequently approved the immediate implementation of a 1-for-4 reverse stock split of the Company’s common stock, where each 4 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock.
The 1-for-4 reverse stock split is scheduled to become effective as of 5 p.m., eastern time, Thursday, June 5, 2014, and the trading of Company’s common stock on a post-reverse split basis is scheduled to commence on Friday, June 6, 2014."
Form S-3/A 8/6/2014
"We are registering under this registration statement such indeterminate number of shares of common stock and preferred stock, such indeterminate principal amount of debt securities, such indeterminate number of warrants to purchase common stock, preferred stock and/or debt securities, and such indeterminate number of units as may be sold by the registrant from time to time, which together shall have an aggregate initial offering price not to exceed $175,000,000. If we issue any debt securities at an original issue discount, then the offering price of such debt securities shall be in such greater principal amount at maturity as shall result in an aggregate offering price not to exceed $175,000,000, less the aggregate dollar amount of all securities previously issued hereunder."
If you sell shares would you not want to have the PPS higher so you get more $ with less shares issued? To the company's defense I have not seen and 8-K notifying of any sells since the R/S, but there was a prospectus issued. They can sell at any time.
