Only 885,155 Preferred C shares are outstanding out of 100,000,000. If they only needed cash they could have sold a few more. This large shelf, combined with existing C shares that are avaliable, suggests to me we will see a partnership.
I believe they've given themselves a great deal of financial flexibility. I would hope that they don't act on a significant part of this prior to many things being divulged and the Annual Meeting authorizing additional shares. I hope this filing portends the Journal coming shortly, followed by the Annual Meeting. I would hope that we're looking at a $5 or greater share price before they act on this in any substantial way.