Exactly, Also KeepInMind Not All NonIssuedShares Are Available...
to sell to potential buyer. PPHM must retain shares for Preferred conversion, stock options, etc., etc.
But after a RS, there would be plenty of shares to sell to interested buyer to guarantee 51% and buyer would have to supply fewer shares if part of deal was to offer 1 share to 1 share in contingent buyout.
Not a 100% guarantee this IS happening, but it is a 100% possibility that it COULD happen...