They are running low on capital and this may be a prelude to an underwriting. I could see 10 million shares at $3. That will be all they need until cash flow starts in earnest. Institutions know they filed a $40 Million shelf. So do we.
They should do a convertible at a 20% premium and get a low interest rate. But then again that takes some management thinking and our top guys are not very good at that...IMO
Stay tuned...we do have one thing in our favor...a very low float so an underwriting will not do much damage.