Vans, I agree. News like this has to simmer on the back burner for awhile...meantime I too expect retail and big buyers this next week. It appears as if this 400 mily cancellation is "insurance" for (as TADAA) indicated R/S. My take is in case relaunch fails.
I liked his common stock payment/buy as this placed him very much like every single one here on this IHUB board. IMO Mr. Mitchell just missed a big chance to lead. Not a red flag, just a smaller caution flag. To others here:
Investopedia explains 'Series B Financing'
Because the company will generally have advanced its business by the time of the B-round financing, it will typically have a higher valuation by this time. This means that the Series B investor will usually pay a higher price for investing in the company than the Series A investor. Private equity investors prefer convertible preferred stock to common stock for the various financing rounds because of the special features of preferred stock, such as dividend accrual and anti-dilution, that may not be available in common stock. (Emphasis mine).
If any one wishes to do some DD, check out Phil Frost and they'll see the ethical advantages/results of an insider purchasing mostly common stock ---as a life time habit. OPK@ exists (just about) solely on peoples faith in his faith in his company. He has profited big time from this practice.
Regardless, we all are gonna be happy in the near future. I'm on board PMBS. Still seeing that station fading behind us...
PMBS Long
AI
