I'm by nature a pessimist on all this stock stuff - this offering surpasses my pessimism by about a light year. I couldn't bring myself to read it that carefully - any indication as to how many units they will issue? Still going for $10 to $15 million, I assume? After all, wouldn't want to do this again anytime soon.
Ladies and Gents, although a few around here contend differently, the share price constitutes evidence, insufficient to draw an unambiguous conclusion, but weighty nonethless. Yet, this writing was not on the wall.
My own guess was .55 per unit, with a .70 warrant good for two years. (When I first saw the release I saw .52 and thought, well, okay, took me a few seconds to see that other number, that's when I looked to see if it was April 1).
I had previously said let's get it over with and move on, and I believed that would not prove all that difficult. Well, moving on is going to prove plenty difficult.
Mazan, Kath, Maple Syrup, Kath, Trip, Peter, Gary, Jacques, and many others, hold onto your hats!
By the way, I'd heard bad things about Rodman and Renshaw before, being bottom-feeders, but what I heard was from one unsubstantiated source, so I didn't feel it appropriate to post that.
Hoping to go numb, that would help.
