Matrixx exercised a RS before (1:250) and the pps dropped like a rock as investors sold their stock. What happens if the RS fails to maintain the pps level necessary for compliance?Does Mxxh issue another RS? Perhaps another RS after that? The company will be gone. If there is no Mxxh, there is no bid for the stock.
Even at the current pps , the RS will net .60 pps which is still below the $1.00 pps target. I'll be happy with .10/.12 pps at the current share structure any day.
The solution is to get the drilling operation started next week. If this means that Matrixx does another MOU for an additional 25% to get other well investors out, then so be it. I believe it is imperative that the drilling operation must go forward this week or next. The oil in the ground is the reason we are all here as investors. The people at Mxxh are losing site of their objective.
Income off the well has an immediate effect on the cash flow not a RS.
I have over 4 years experience with MXXH's activities.
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