You know bluesboone, I took away a different interpretation of what Al Simon said. I understood him to advocate that the shareholders offer to loan money short term to SFMI at some to be agreed upon terms. He mentioned the time frame would be six months to eighteen months (perhaps longer). But that assumes the money comes back to the lender and no shares are involved. That also strongly suggests to me that that is what he meant when he said he did the same thing by investing directly into SFMI. Now that doesn't mean he hasn't also done the private placement, as I don't recall that the two recent smaller private placements had the sources of funds identified. Perhaps he was involved with them. Regardless, I don't see that any additional unannounced PPs have taken place.
However, it was also made clear at the ASM that additional funds will be needed shortly and there was definitely the inference that additional shares could be the source of generating those funds. Al Simon, his friends, or who knows who, in my opinion will be welcome sources on that money, as long as it isn't via the price minipulation inferred to by Bigpic. I also hope any additional PP would happen after the share price increases. This was certainly what PQ referred to in his Q&A session. But that is only hope and may not be reality.
Sadly, we need more money and hopefully, it will come as has been promised. We just don't know under what terms it will come.
Thanks, Calfarmer
