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Tuesday, May 15, 2012 5:24:46 PM
They filed three minutes after I predicted it.
Per the filing as the reason for the delay:
http://edgar.sec.gov/Archives/edgar/data/1236275/000118518512001114/silversuntech-nt10q033112.htm
My guess is that Meller may have done some conversion, and maybe they've done some options for employees
We're probably looking at an increase to the float of $719,000/$0.22 (today's closing price) of about 3.3M shares. That's if it's based on today's closing price.
If it's bases on the March 31 close ($0.18) then we're looking at more like 4M shares.
But if it was based on the March 31 close, they would have known this for weeks, and it should not have delayed the filing, therefore they may have done the compensation expense based on a later closing date.
If I'm right, then the float goes up quite a bit, but the OS won't climb that much. This will narrow the range between the Float and the OS, and in my opinion, that's a good thing when comparing basic and diluted EPS.
Stock could take a hit, however, based on the delay.
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