I misspoke, o/s is 72.5M, float is actually about 2/3 of that. Last dilution was the November equity raise. While PGRX has significant and immediate cash needs it is doubtful that there would be additional dilution at these ridiculous prices. More likely approach is an accommodation from the noteholder/partner that allows PGRX time to quickly clean up mess and secure reasonable new financing against wholly-owned land assets and Chinese purchase contract.
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