I wonder if js9909 read the Form 424B3 Updated Prospectus filed by the company yesterday explaining the 25.7 million shares from the Private Placement that closed on September 22nd.
Most likely not as this selling was expected when the registered shares were issued. The company received gross proceeds of $4 million less the transaction expenses of roughly $98,000.
I don't think the price is going to 2 cents, but that is just my opinion.
What I like most is that $1.6M saves ENCR from diluting 11M shares (based on the recent financing) going forward in the race to profitability. A few unexpected orders here and there along the way and ENCR may avoid having to raise any more cash. Sure am enjoying those shares under .14 from a few days back :)
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