That does not make sense as prior to Dec 31/2013 the warrant holders had more than 30% of company!!
This is ONLY WHEN THEY exercise the Warrants that this 10% rule comes into effect!! And they need to sell off!!
They can buy 10% of shares (less 1 Share)on open market before reporting them on a Form A!! and still own all the warrants more than 10% of company!!
So if you had 3 different companies each owning 10% each of 18 million say 1.8 million shares = 5.4 million plus the 4 million Warrents which are NOT converted yet gives them 9.4 million shares in control of company
and IF THEY OWN the OTHER 9% gives them OVER 50% control of PLANT!!
Take over good or Bad!! And who owns rest of debt????????
These guys could FORCE a SALE to a third party at a PREMIUM!!!
That share offering for $28 million for 1.750 million shares in early APRIL still makes NO SENSE!!!
And then later buy back debt??? They would now still have at least $25 million in coffers (profit this Q2) and then Warrant money of another $10 million (sold in Q2)!!
Why at least $35 million cash at end of Q2???? and then 4 million warrants that can covert to at least another $28 million!!
That is about $65 million in cash at end of Q3 and then another $25-30 million in profits for Q3
So end of Q3 we have almost $100 million cash!!
Eliminate the last $55 million in debt
AND DEBT FREE!!! with about $45 million in cash at end Q3
WHY??? WHY????
Buyout or sale from someone!!!
This goes to $30-40 a share at end of Q3 end Sept!! Easy double from today's PPS!!!
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