TF, I won't go into great detail answering questions after spending a lot of time formulating an extensive post.
What I will do is provide a few short answers.
a) Ironridge has until the end of March to pay off Creditors. Therefore, the amount of shares they're able to retain w/b determined between now and then depending on what amounts Creditors were paid and when.
b) In order for Ironridge to receive the greatest number of shares the PPS would have to be at $0.433 on average. Yet, they are required to pay the $3+ Million to Creditors regardless if whether or not they are whole or under water with the shares they either have sold and/or have retained. Thus, they will have to calculate for themselves when and for what amounts to sell their shares to maximize their return; i.e. the overall value of cash and/or shares they'll retain after they have paid out the $3+ Million.
c) Not sure why the FH Settlement is not required to be 8-K'd. One guess is that since it is already a accessible through the Courts that the SEC considers it a public available document and therefore not required to be filed with them, as well. Can't say for sure.
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