First of all, thank you for taking the time to share that info and your concerns.
You might still benefit from CLSC with MUCH less risk. All it requires is a little vigilance and staying somewhat liquid. If you simply keep a close watch on the company's web page and Yahoo page, you may have a chance to jump in before the tide rises.
I did a little research into the minute-by-minute trading after the Phase 2 and while I don't have the information at my fingertips -- and it probably wouldn't matter if I did, because we can't count on history to exactly repeat itself -- there was a delayed reaction on the day the results were announced.
I believe it was you who mentioned the delay after the recent Stoll CC before the price jumped. I think the same will happen here. I'm sort of counting on it; I have the cash waiting to double my holdings.
I'm going to go read up on floorless toxic financing, Cornell, and try to find that SEC information, and may have more thoughts/questions later. Thanks again.