The company will be out of business in about 2 weeks.
They will distribute the $ 20 Mil or so in the bank back to the original shareholders.
The value of the distribution is about $ 5.46, so this explains why Mr. Weiss was buying so much at the $ 5.30 to $ 5.40 level. It is basically a risk-free short-term interest bearing vehicle. He'll make about 2 % over the 6 week period ( 17 % yearly ).
The warrants cannot be exercised today at $ 5, and join in the distribution at $ 5.46. They are worthless, with no hope of having ANY value.
I bought a bunch this morning, but gave it back for a small loss. Oh well. Should have done my DD first.
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