The market is not going to read the ASM news as positive.
I’m not saying it’s negative. The ASM is 100% expected. Everyone that can read a financial statement knew the share structure was going to be addressed with either an AS increase or an RS. It had to be done.
But still, this will be graded poorly. Because most of the market either cannot, or does not, read fins. Especially OTC. The market is reactive to most recent news, and the only thing they will take from this is “AS increased by 40%”.
Barring commercial license and/or MAA filing news (which is certainly possible), we’ll be red from here to the ASM.