While reading thru every single filing, I found some interesting things that point out that something is definitely in the works.
1st
This is an action that usually precedes a merger or acquisition of some kind, it's done as a pre-requisite to complete the deal and is usually reduced back down upon closure of the deal
2nd
15M of the 53.3M were for prepayment of advertising services. The remaining 38.3M were to shareholders for services rendered. On every other filing in the history of this company, they have always went into great specificity about who got the shares and for what reason. This filing was VERY VAGUE with no details. Something is being held, hush hush, I bet these shares were part of the merger deal talks that are in place now.
3rd The Executive purchases of common shares, Otterbach bought 750k shares on 08/06 and Miller bought 2.5M shares on Aug 4th. They bought these shares knowing full well that the 10Q was going to suck, but they bought them anyways. Why you ask??? good question, something is in the works and they don't give a rat's arse what the sp is, cause they know for some reason it's going to skyrocket.
4th
usually when a company starts issuing Preferred shares to it's executives, it's to ensure they retain majority voting rights, alot of times this is done before a merger deal is completed in order to ensure they keep majority stakeholder voting rights position post merger.
5th
Now, why would Lee even mention the word "Merger" if something wasn't already being discussed? Why not just say, we will require capital from equity issuance only...why even mention the word merger. That's the signal to me that verifies all of the somewhat strange transactions that have recently happend that often lead to a merger of some kind.
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