Dear Gary,
I think the Trading action today is not related to an approval soon. First, the volume would be much higher and second the stock would be above $1,0 if it was the case.
However, I think it could be related to something else.
Two months ago, I read somewhere of a pending capital raise.
The last 10K showed also the company had very little cash available.
Those 2 things combined was enough for the market makers/hedge funds to sell short (again) the stock and push the price down.
With the stock up 4% today, if the rumour of a capital raise is real, I would think we’re probably very close to see a deal announcement.
If it’s the case, I suspect the stock to rebound nicely to above $,80 very quickly.
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