Wednesday, October 14, 2015 11:35:42 AM
I am not thrilled about the RS but acknowledge it was inevitable. The good news about it is that obviously there is not a huge panick to getting it done over night. That leads me to believe they have a better strategic plan in place than the misguided and painful CD's from last year.
Even if the RS happens around the beginning of the year and IF they use some of the newly available shares for new CD financing (which I doubt they will), these would not hit the market until 180 days after issue which puts this at least 3 months BEYOND the drilling start date.
My guess is that they will use newly available shares post split for specific investor financing at fixed stock prices. No more death spiral financing. I would even go further to guess Offor may be getting more shares in exchange for more investment to bring his percent ownership back up.
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