At 200-250 and thefull A/S exhausted that's approximately a pps of .5. Which I highly doubt WP would accept, even with a conversion rate of of .35 on their preferred shares. They have invested too much time and money for that small of an ROI. So that could potentially be holding up whatever deal is materializing as well. Then again there is always the idea of strictly selling Marqibo and keeping Menadione. Idk if they've explored that avenue. But it seems like if that were the case Marqibo would have hit the market already to begin capturing the projected revenue.
In the end we can speculate all we want, but we're really just along for the ride at this point.
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