No BTD announcement. No way they could have sold 400k PPHMP in July while sitting on a BTD. So that's out. I was hoping it was a leak back in March, but instead it's become obvious that until those 3 million preferred shares are issued in some way we will never go above $3. Look at the numbers. 35 million shares trade on 3/5 and PPHM files an prospectus supplement for the equivalent of up to 34.8 million shares convertible under PPHMP.
Yes, it was an illegal manipulation back in March IMO to hedge the PPHMP they know they will receive over the coming months/years.
And anyone and everyone holding that stock illegally for the eventual partner should be very scared about the SEC on their a$$es for parking.
My advice: Trade the bollinger bans, sell calls under $3 and don't expect anything until 3 million PPHMP are sold. Until then, as long as the ATM is still off it doesn't really matter where the common is trading. It's just a waiting game until SUNRISE reads out. 6-9 more months of bouncing between 1.40-2.
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