DeserSon, this is exactly what I expect is going to happen. To be able to buy shares for .14 is a unique opportunity that has come about as a result of several things:
1) CEO raised expections unrealistically about the benefit of a "post May 19 trading environment AND the potential for "new" financing that has not yet materialized (Jay should ratchet down expectations, not up,imo).
2) investor dissapointment that 33M shares were issued in the weeks prior to the May 19 SEDA termination date.
3) misunderstanding of the significance of the CD restructuring. Making the note callable is a huge positive that will allow a new capital investor (or group) to be the top dog on the creditor list. Obviously nobody was willing to make a capital investment in MobilePro with Cornell in the top spot.
4) Uncertaintly about the likelihood for a new financier to be signed (this is the real "bet" that a short term investor would be making right now. Long term investors are betting on this AND the long term success of Muniwireless, which is still to be proved out.
5) An overall crap stock market environment. Although MOBL has never traded "with" the overall market, there is so much negativity out their now that with investor sentiment this low I believe it is spilling over into otcbb stocks.
I'm betting very large that we will get a new financier on board, hopefully prior to September 1. I think Cornell is out of, or very nearly out of SEDA trading shares. I think we have shareholders that recieved shares as part of buyouts of companies from 2004 who are now eligible to sell their shares. These folks simply want thier cash now and are not interested in "investing" in MOBL. They viewed these shares as "payment" for their part of the acquired company and want their cash asap.
Without a large block of Cornell SEDA shares to sell, the next bit of good financing or other news will tell the tale of how MOBL will trade without the infamous "overhang" of SEDA shares.
The current shareprice is a dissapointment, but this stock WILL rebound.
lih
