MYM Nutraceuticals Inc MYMMF

RE:RE:Concerned

[WeeblesWobble]

Under TSX Policy 1.1 "market price" means the last closing price prior to a news release or the filing of a Price Reservation Form.  "Discounted market price" for shares with closing price in the range of $0.51 - $2.00 permits discounts up to 20%.  For shares with closing price below $0.51, max discount is 25%.

The shares issued to Alumina were a private placement.  Under TSX Policy 4.1, section 1.5, private placements cannot be priced less than the discounted market price.

We know the following:

The shares were issued to Alumina were priced at $0.41 CAD;
The market price of those shares would have been approx. $0.5125 CAD ($0.41/0.20);
MYM shares closed at $0.51-$0.52 on Dec. 21 and Dec. 27 on TSX;
The only MYM press release during this time period was issued on Dec. 26 and dealt with shutting down Solaris;
TSX Policy 4.1, section 1.9(b) requires that there cannot be any undisclosed Material Changes with respect to an Issuer at the time the proposed offering price is reserved.

therefore, MYM must have filed a Price Reservation Form on Dec. 28.

So why wait 2 weeks to announce the first tranche financing provided by Alumina?  Can't help but wonder if Alumina took advantage of the price dip (which I believe was resulted from Solaris shutdown announcement) to "squeeze" a better deal out of MYM.  Hate to say it, but if Alumina did "squeeze" Badger may be correct to be concerned about MYM current financial state.  Would be nice to see the Q2 interim financial statements which may shed light on MYM's current financial state.

Still, at the end of the day, Alumina did pony up $1 million which should stand for something.