woofer, not sure if the company would have purchased the shares as collateral for the deal ahead of time, and granted them to the IB in lieu of the $2.75 mil equity. Not sure that one makes sense.
At this point it is pure speculation on everyone's part (including mine) on the SP downward move, and the cause.
THIS is the reason the new years announcement was not thought out - it left too many questions and speculations. I get the paper signing in person due to Covid...anyone who has bought a home or business knows that you have to still sign in person, with identification, etc. before you can complete. That said, it could be performed outdoors if Covid and indoor environments are the concern...might be that one or more of the principle investors are sick and unable to sign on their end. Not sure...again, speculative.
Little details can screw things up. Having the proper guard rails in place can prevent issues like this.
Best to you
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