If the company needs to go ahead with the financing deal they announced before the latest nasd ruling that the prior offerings should be bundled and hence violated their 20% rule and that put the deal on hold, then I want them to close that deal at .38 before announcing the end of the trial and seeing possible stock price appreciation on that announcement only to have the gains erased when they announce closing the deal which is now in limbo at .38. They obviously cannot close on that or any other deal until the nasd responds to their filing a remediation which they had to do by 11/17 (?). To get the maximum benefit for shareholders the right steps are 1. clear with the nasd 2. close the offering 3. announce the trial completion.
BTW their shares are now 100% aligned with ours and even if they weren't they would not unnecessarily dilute more than necessary. There is no reason to assume they are not trying to deal with this somewhat complicated situation to our maximum benefit. It's not like they don't know the parameters for avoiding delisting. There are also other factors you don't know, such as the situation with the financing and where that stands now after the nasd stopped it from going forward. The situation is not nearly as simple as you make it out to be.
[in edit] December 21 is that Nasd's hard date on extending the below $1 delisting warning and as you say, if they plan to try to use trial completion as a catalyst to try to get the stock over $1 they need to have that price for 10 days before Dec 21. Or else they need to close a significant stock offering before then to meet the $5M shareholder equity minimum. So in any case we will find out within the next few weeks how they plan to resolve the delisting threat, and I'm fairly sure that will include announcing the end of the trial. We just need to continue to be patient.
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