1) I assume that the above is going with the positive arb decision (arb+)
..if price is decently up after that decision then there would be no need for an r/s to fulfill the SEC issue
There are VERY few instances where the share price exceeds or maintains the post R/S price
If everything is coming together (Arb+, study nearing conclusion) then, at some future point they might see an R/S as a positive event so as to meet the share price requirements of some investment groups and mutual funds. This would be when the price is on the way up and not because they have to.
I believe that CVM only went with $1 mill because 1) they are nearly out of cash and 2) they are planning on the share price to respond to future positive news and the $1 mill minimizes the shares that have to be sold.
If they had $5 mill on hand there wouldn't have been an offering