Thermal Energy International Inc (TMG)

[geopic]

Sparta, you probably know that already.
PP (flow-through or paid up regular,) shares are not tradeable for four months plus a day, hence those 10 to 15 million dollars worth will not affect the volume much.
Here's the paragraph from the press release:
'The private placement was reserved with the TSX Venture Exchange on May 10, 2008, for $14-million and was amended due to subscriber interest on June 11, 2008, to $15-million. The financing consists of an issuance of 68,181,818 common shares of Thermal Energy stock at a price of 22 cents per share. The shares issued in the placement are subject to a hold period of four months and may not be sold or traded before Oct. 21, 2008, and Oct. 24, 2008, respectively.'

Now, with over 165 million shares, I feel there might be a reverse split before year end. A solid base at over one dollar a share would be respectable. Opinions?
g.p.