Hyperdynamics Corp (HDYNQ)

[mare3210]

I posted a few days ago on IV board about the same observation. It could be connected to the PP being priced at about 1,20 or just below that. It could be that the underwriter started to sell some of the obtained shares on the market to hedge the deal - however somehow I think Ray is still pursuing JV partners and this explanation is IMO relatively unlikely at this time.

The wall at 1,20 could also be just some of the old-time holders are getting out after 300% increase from the lows. In addition it could be some profit taking by investors who bought at around 0,50 are starting to cash in some of the chips - which it makes sense (hold some free shares, after selling some with a nice profit).

Regarding the proxy allowing for the issuing new shares to up to 87 million, I believe that at this point it is just a percussion taken by Ray in order to make sure he has a plan B (going at it alone at 100% ownership) if no partner is willing to step in at a reasonable valuation.

FYI - I was contemplating to cash in some of the chips at about 1,20 too, however I am still holding all of my shares - for now.