Tuesday, August 21, 2018 11:15:58 AM
The shares will be offered pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-218517), which was declared effective under the Securities Act of 1933, as amended, on June 16, 2017 (the “ Shelf Registration Statement ”). Under the prospectus supplement filed on August 21, 2018, the Company may offer and sell shares of its common stock having an aggregate offering price of up to $25,000,000.
Doesn't this mean that their intent to possibly offer shares was already made back in 2017? They are now just taking the next step. They still have not issued any shares. This should not be a surprise to anyone. Also, if they have begun receiving contracts and making agreements they need this cash for meeting the production demand.
If you look back at the timing of the different offerings, they all seem to have come after a rise in share price. I have confidence in the management to make the necessary moves at the right time. I believe this is one of those moves.
Just wish this would have come out before I bought back in, would have been a few more shares...can't have everything.
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