IMO no biggie, just usual biz.
Sweep, Kaplan just gave us an update on March 17, filed as an 8-K, and then the 10-K was filed March 20, with subsequent events included, including notice of this potential offering.
Subsequent to yearend the BOD approved up to $3 mil in convertible notes to be possibly offered, presumably for general working capital purposes. As of March 20 there has not yet been a drawdown. As of yearend the company had $2 mil in the bank.
The company naturally needs capital for any number of reasons. Theoretically they could use the additional notes to market Cura, manufacture myCadian watches, fund fluid power, or enlist a strategic partner. They could also just be playing a little game theory with someone too, at least theoretically.
