That would be the compensation for investment banking services that R&R said MAY occur within three months of the posting of the analyst report. Moby, wouldn't the disclaimer be standard template to be responsive to disclosure regulations? R&R initiating market making occurred already. Would that fit the definition of providing investment banker services as R&R had disclosed was likely to happen within 3 months of the analyst report release?
Regarding the disposition of the 30 million shares, I don't know where they ended up. You had suggested that the amount of compensation received by R&R IMPLIES that parties preapproved by PPHM received them. If they were resold by those parties, the market trading volume doesn't appear to be sufficient to have given cover, since much of the volume surge in July and change in short interest just balances out the 13 million shares that traded then. There is no new short interest posted that balances the 30 million share placement and I don't believe volume was able to balance 30 million shares in the period between when the private placement was announced and pps dipped below 75 cents (the pps dropped pretty fast). So, unless R&R did a cost averaged placement that placed the balance of the 30 million shares when pps was below 75 cents over the last couple months, the volume/institutional interest and short interest reporting for the 30 million share placement is still unbalanced. The answer may be that there was some cost averaging done with the placement so balance was attained with shares sold under 75 cents. Can investment bankers do that?
Of course, all IMO.
KT
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