That is also a possibility. Create a huge NSS position and then announce a "NO VOTE" now that willsky rocket this to over .50 cents!! Hey Ironridge can sell at will and we also make $$$. Heck, I need the courage to hold this through!!
It's possible. But I'd think regardless they would want the price to be higher so if an R/S did go through they will be well above the $1.00 minimum and preferably above the $5.00 for institutional funding.
You need to understand that AS And RS must go through for the company to survive! They need to issue shares to lenders. Current AS is maxing out quickly! AS and RS will be approved one way or another. 1) Significant shares issued to lenders in last several months will vote for it 2) preferred shares! The company did not put it out as a joke! They have no choice and is serious! Current shareholders must pay for this survival. Yes the 2 billion shares will quickly be issued, that why they needed RS as well! Price will go down significantly after the 2 billion dilution! Then execute RS to cleanup current share structure! Bam! Ingenious!
That thought had occurred to me also. what if the R/S is approved, and mgmt says it's unnecessary. What would that do to the pps? Drive it up I'm thinking.
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