snacks, timing things etc.
They could sell the shelf at anytime they wanted to.
is the ATM facility still in place?
were it in place, does the market demonstrate the liquidity to support an ATM on the sell side?
So, the question is: why did they make the announcement today? Who is going to buy it on the open market without revenue news? In my mind, no one.
well, those certainly are the questions ... the last couple of financings have not treated investers in those financings well. The liquidity before during and after and the price don't seem to support the notion that they did well, and the warrants are out of the money.
that would make finding private placement investors difficult. when one cannot find customers (for WAVX shares) in a smaller group (PP), one casts a wider net (public) and hopes to get the shares sold.
why now? because they are out of money ... out of money means 1) borrow, 2) sell shares 3) sell assets 4) sell the company 5) seek bk protection.
it doesn't mattter if they have news soon or not with regards to "why now", they are out of money, their choices are 1-5 listed above, the luxury of having news would be nice, but broke is broke.
if they have no news and the share sale fails, the company will be sold before the end of the year.
The above content is my opinion.
