The February 3, 2012 S-3 (Registration No. 333-) filing announced the intent to issue up to 100 million shares.
On February 28, 2012 a S-3MEF (Registration No. 333-) was filed adding 13,688,005 shares to the original February 3, 2012 S-3 and states that THIS REGISTRATION STATEMENT SHALL BECOME EFFECTIVE UPON FILING WITH THE SECURITIES AND EXCHANGE COMMISSION IN ACCORDANCE WITH RULE 462(b) UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
The April 6 S-3 (Registration No. 333-179334) is not announcing any additional shares, so does that mean that the 02/28 13,688,005 shares have already been issued?
Has the dilutive effect of the "shelf offering" of 100 million shares already been baked in the current share price?
Furthermore,
Back to the April 6 S-3A again--
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.
This for you Capt'n...does the above mean that the 100 million shares be offered as soon as the Commission accepts it? All way above my pay grade, but I'm with Wild Bill, i.e. announce the sale of 1000 C65s or a hundred C1000s to Japan. That would cause all of us to exhale, as it would definitely provide some transparency to the use of the capital.
"Buy the rumor, sell the news?" Monday will tell who is squeezed, but of course I could be completely wrong.
