a lot of interesting info in this SEC filing. some good some bad. I find the part about a rights offering interesting. could be a good way to go for current shareholders:
One form of financing the Company may entertain would involve looking to the Company’s existing shareholders to fund such capital demands through a distribution, or “Rights Offering.” In a Rights Offering, each of the Company’s shareholders would receive rights to purchase the Company’s Common Stock or other securities, on a pro rata basis and upon the same terms and conditions. Such rights would be exercisable at a fixed price (typically at a discount to the recent weighted average trading price of the Company’s Common Stock) over a fixed period of time. Because each shareholder would be given the opportunity to purchase from the Company its pro rata share of Common Stock, a Rights Offering would give all of the Company’s shareholders the ability, by purchasing shares, to avoid the dilutive effect typically associated with raising capital through the placement of equity securities with third-parties. A Rights Offering could also be structured to increase the likelihood of the offering being fully subscribed, including obtaining commitments from certain shareholders to exercise their respective rights in full under any Rights Offering and negotiating standby or backstop arrangements with investment banks, affiliated parties or other third parties pursuant to which such parties agree to subscribe for any shares or rights that are not exercised in the Rights Offering. In addition, the Company may enter into other arrangements designed to insure that the necessary capital is raised by the Company, including granting over-subscription privileges for shareholders fully exercising their respective rights to subscribe for additional shares under the Rights Offering, subject to pro rata distribution based upon allotted shares.
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