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Friday, September 29, 2017 12:13:26 PM
I think management realized they made the mistake with the convertible and they have renegotiated with Hudson Bay to exchange the notes for warrants. At least warrants have a fixed price unlike convertible you always convert for shares at a discount below market price. There is no floor with convertible, even at 0.0001 the notes holder still coverts below that price, and as long as people are still trading the stock, notes holder still profits. They could careless what the current SP is.
No doubt they will sell more shares after RS but need to watch what kind of deal they make to raise funding. Issuing more convertible is a clear signal for short and for longs to run for the hills. We would be crashing down to nothing once again.
The surprise here is that they may get earlier FDA approval using data from EU. That will really turn things around at least for the time FDA approval arrives. This stock is going to be a lot more trading opportunities.
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