Quote, "I thought dilution happened yesterday with like 8 million volume... so what is the February 26, 2018 date? "
The MASS SELLING and DUMPING yesterday was RETAIL and INSTITUTIONAL HOLDERS selling this POS, as they were about to get diluted.
Has NOTHING to do with the private placement of shares.
The "buyers" whoever they are- don't even have the shares "in hand" yet, and no one knows if/when they will SELL-n-DUMP um, or if they'll be long term holders, or are another set of dirty hedge funds who are gonna further short this POS into the dirt or what?
SELLING YESTERDAY was just that...just SELLING ON THE OPEN MARKET..probably with a bunch of MARGIN CALLS tossed in and the MM's dumping too, as they're not gonna get stuck with a bag of POS shares going down sharply in value.
Also, the underwriters can LEGALLY NAKED SHORT THE STOCK as part of the "offering" and they often do - they make nothing but BANK on these low-grade, toilet paper quality offerings from desperate companies.
This is far from over at this point- no one even knows who bought the subscribed offering. Probably hedge funds as usual IMO. And NO, I don't believe a WORD OF HEARSAY from supposed "NOELLE" and wouldn't believe a word she says - even if I heard it with my own ears, as NONE OF IT IS BINDING, OR IN WRITING or amounts to a hill of bad beans- she's a noise peddler, a shill for the company and worthless Sr Mgt.
No more complicated than that. It was DUMPED AND SOLD yesterday as the company's performance and cash issues are HORRIFIC.
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