Well, it's believable that someone clever found a way to add to his share count without going to the market to do it. I need to go back to see what the Shelf Reg was for...was it for a specific amount of money or a number of shares?
There is no logical reason a company sitting on $20 million cash would use shares to borrow $2 million dollars. I guess we need to see the details. They can't even say what the money will be used for for crying out loud. General corporate purposes?
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