Wow so they want the option to do a reverse split up until December 2014... they also want to exercise another 10 million conversion of series A warrants to common stock. They also want to propose 25 million stock offering to pay the debt.
No way they get the reverse split before march 10th so they will dilute the shares to get to 35 million market value and then reverse split to get the value over a dollar thus fulfilling all of the Nasdaq requirements. I would imagine Sichuan will pony up the 20 million to finish things out through the definitive feasibility study.
It now looks like we need to pull out and wait for them to dilute with the 25 million and then jump in after the split. What do you guys think?
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