$heff's $tation of $tocks & $olid DD

[42Delta]

NAVB big block trade yesterday at 5M shares presumed to be a pre-arranged Institutional Average SP sell (IMO) by Montaur-Plat. Clears their books within the 10% ownership limit and they can exercise the Jan-13 warrants w/o exceeding the voting-unrestricted share limit. They still have the 35M+/- shares via convertable prefered shares to keep in the bank. Nice move IMO on the LOC deal keeps everyones shares, including Mont./Plat., from potential dilution in Q4. Could use the first draw to wipe Hercules off the books, we'll see. Expect they will annouce a CC today-Monday so this will be a good listen for NAVB holders, in addition to Altrophane license.