I nearly sold my shares recently, but changed my mind at the last minute, that was last week. Since then we dropped to .06, and then today jumped back up 30 something percent back to .08! Surprised the hell out of me, as I was expecting it to drop to maybe .03 and I had placed buy orders at .04, so I Missed out on the .06 buy op.
I am reading (still) the latest annual report and stockholder meeting intro which details the potential merger. It looks real interesting, like a great opportunity, but they would need to raise a lot of cash from somewhere as the takeover target is deep in the hole. I will hold my current position for now and buy more on any major pull back, as my recent experience is that stocks like this tend to move up a lot higher before dilution. And if they get some other sort of funding, like debt conversion to stock from debt holders it might add enough new pipe line product opportunity into the company to move the stock higher even with dilution.
Keep in mind that a Europe (IIRC) biotech company (the one MHAN has licensed the Hedrin from), is a huge (50%???) major stock holder in MHAN, and who knows, they might pump cash into the merger deal, but I have not finished reading the SEC documents, and so far there are a lot of loose ends in the potential deal as I see it from what I have read? My gut tells me the stock will take off on any news of finalized merger, before any pull back reality checks on dilution. Besides, chances are good the other party is desperate (cash strapped) and will take less stock for more company, thus boosting MHAN potential value per share.
If I missed something, please let me know. You mentioned something about purchase of share agreed at .09-.11, but not sure where you got that?
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