I believe the offering was pulled with confidence in the deal happening.
I guess you could assume the deal is not happening, and they won't make it to .25, which renders the offering useless. Then pull it and file a new one at a lower offering price, but that wasn't filed either.
These guys are working on something bigger than a share price hints acquisitions and LOIs. I don't think they pulled the the offering with hope to dupe investors into thinking they have something bigger as they haven't put out fluff as of yet. It is being put together by experienced professionals. I don't see sign of ulterior motive here.
As Penney mentioned, none of the inside investors sold between the time the filing was withdrawn and the share structure was updated. That seems like a pretty sure sign that they are holding tight for bigger things.
Either way, we should know soon. I plan to find out with a pocket full of shares.
Good Luck
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