About preferred shares and the ATM...
As of today, I give little to no credit to management for the preferred offering. If anything, it's just strange. And to this company, what's the difference between $60 and 80 million?
If the preferred offering was "so brilliant" why did management feel the need to sell 16 million shares at $1.75 a few weeks prior? Just makes no sense to me. Gotta be something else going on here.
And when Feb. 15 came and went with no updated form 13s, again...it made very little sense to me. How could 20 million new shares be issued in a month, 115 million shares trade in February not trigger an SEC reporting requirement? I don't buy into the secret family buying theories, but then another thought crossed my mind that stemmed from the change in King's dialogue from partnership to "collaboration".
The only reason I can see this happening and without any SEC filings being made is that that there is a partnership involving more than 2 companies coming. If there are no SEC filings made by next week, I'm confident a major securities violation has been committed by someone.
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