They are converting their paychecks, along with notes, Series A, and Prefferds into common stock because that is what IDTEC required prior to closing the transaction. The RS is also required.
IMLE isn't making any $, and they need IDTEC's equipment to fulfill the pending contract...so, I believe they will very likely run the stock at some point post RS. That's really the only choice in my opinion.
I was thinking they would run it pre RS, but that would require an very significant news event if they planned to sell even a portion of the 60 million shares that were just converted to commons.
Guess I will just ride it out at this point.
GL
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