I have to agree with Porgy, the issue was whether to saddle Simes with the R/S or Przybyl. They use the $4 listing as the reason, but I think they are more concerned with the $5 target and the additional institutional buyers that it will attract.
The appeal will, if they chose, give them time to get PPS up reducing the severity of the R/S. At least, this time we have over 50% institutional ownership and the Management and the Board who represent over 40% of the outstanding shares will be equally impacted. Basically if they want an R/S they would get it. Pryzbyl did not get lured away from Akorn to come to ANI and lead them to OTC. He has turned around ANI and probably wants to grow this company to something larger then Akorn.
I have no doubt that Przybyl would like a lower float giving him more flexibility for future acquisitions. CEO and CFO shares are presently in a Rabbi Trust, to be released weekly from August 14, 2013 to March 5, 2014. It is also in their interest to see PPS rise and not soley by doing an R/S.
