IGC Pharma, Inc. (IGC)

[JimsZ]

IMO it could be for a number of things

1). Could be for an acquisition
2). Could be for dilution (although I don't see why they wouldn't just dilute the other 55 million shares first)
3). Could be to lower the pps of stock so insiders can load up


I see this to be number one or three... while having over 60% of your AS available, you wouldn't kill the pps by raising AS for dilution! You would dilute until you hit your AS, then either RS or raise the AS as right now everyone believes the highest it can go without further changes is 75 mil!