"If we announce a share sale, then it highly likely means management is no longer counting on it."
I don't follow. MFO has plenty of warrant buying and preferred converting that they can do. Is that what you mean? Or are you suggesting that they might enter into a new agreement?
FYI:
"From the date hereof until ninety (90) days after the Second Closing Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents."
They've cleared that constraint.
"From the date hereof until such time as no Purchaser holds any of the Warrants, the Company shall be prohibited from effecting or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction."
Any new agreement couldn't have a variable rate conversion feature.
As you've have said, we'll hopefiully be able to see where things stand vis-a-vis the MFO in the 10-Q.
At least we'll know how much Preferred and how many warrants (and obviously how many common shares) are outstanding. It will be interesting to see if we can piece it together.
But can it core A apple?
Yes Ralph, of course it can core A apple.