.30 to .35 should be the sweet spot to get filled and anything below .30 is just over the top awesome.
Fully diluted the company is worth .35 pps. But they ARE NOT fully diluted and currently have a book value right around $2 pps.
Furthermore, the Series A preferred representing 80% of insider ownership, is the $16+ million of personal money the 8 officers and directors have directly invested through Pelican.
Keep note that this has not happened over night either. They have been working at achieving a debt free company since 2013 with the most important steps unraveling since mid 2016.
Lots of time and money has been put into this and I for one see absolutely no reason at all for any insider to liquidate any of their preferred holdings.
A preferred placement of this type by insiders of this caliber is indeed a rare find in the OTC, IMO they have NYSE written all over them and I won't be the least bit surprised if it will happen this year.
Currently 13.8 million commons o/s with over 60% of those held by insiders as well. Approx a max of 4.5 to 5 million commons available to the public IF the holders of those shares WANT to sell.
I'm grabbing all I can because I know these are rock bottom prices at entry levels.
