Think about the lack of communication and why did they pick 12/20/22 of all dates for the shareholder of record vote??
I don't think they considered the NASDAQ shareholder vote requirement until after a large number of shares were dumped with an expectation of getting them back through the preferred convertible deal. It's nice to trade knowing that you can sell at a price above what you will be replacing those shares with...
Voting NO is clearly the right vote for shareholders, unless you are in on the PE deal... They may have gotten over their skis on this one though, we'll see... Insider trading, hmmm....
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