Longwei Petroleum (fka LPIH)

[rru2s]

IMHO they extended to avoid issues with the 11.5M warrants held that would have expired at a time when the stock market was closed due to hurricane Sandy emergencies. There could be a big payout to the ambulance chasing lawyers if they sued over lost income had price continued to rise.

But it is interesting that someone kept goosing the bid right up to near $2.25 but not beyond. That would be consistent with RedChip getting extra fees for keeping price over that milestone. They did have some fees like that in the old days. The trouble with that approach is that it would cost them a lot more in stock purchases on the open market versus what they would get back in extra fees for the month where price hit the threshold every day. The other possibility is that a fund has plans to make this stock take off AFTER it hits expiration, and they want to slowly accumulate up to $2.25 without triggering any warrant dilution up until that time where they expire and it doesn't matter.