RE: Latest in the bun fightSo I guess the question now is, was the PP done to protect existing management and the BOD or is there a legitimate need for funds at this point.
Will ISM, which at this point has invested a lot of money in UMJ, continue to try and accumulate shares. Or will they go through the courts, which will involve spending money and time, to try an resolve the issue. Strange that they would issue a NR responding to the PP. If they feel they have a case, why not just go straight to the courts and get an injunction issued. Are they going to try and resolve the matter by getting into a shouting match with Ursa? The NR has a childish feel to it.
Ursa are going to have to justify the PP, it does seem to have been a rushed a little. Witness how cheap the flow through shares were. Normally, a flow through share is sold at a premium, these were sold at market price, why? Do we need the money that urgently? Seventeen million shares are a lot to add to the float.
Starting to get a little messy.