You do realize that the Warrant deal, where banks fronted 37 million and are exercising cashless warrants at .28 each day, is the MOTHER OF ALL bank buying.
probably end up being around 50 million shares purchases at high 20's.
With 37 million cash paid, and exercise price of high 20's, that puts the banks break even around 75 cents.
And we don't know how many bank shares were purchased yet since march 31, but since stock got cheaper, you can assume the bank purchases continued to occur, and possibly accelerate.
With 15% of common purchases by banks in Q1, and assuming linear purchasing continued in Q2, another 15% in Q2, that would be around 30 million INST bank shares, plus the newly issue 50 million shares, that would be about 80 million bank shares out of 145 million float.
Obviously, the banks think AEZS with break events of .50 to .75 is a pretty damn good deal.
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