8.5 Million Bought Deal!!!!
I just looked at the news releases right now and didn't know we had a bought deal!!!! That is excellent! When bought deals happen from what I have experienced the equity tends to keep moving up but a lot of this is contingent on those who are involved. I was involved with espial some time back and they were trading at .75 they got a bought deal at $2.25 and one of those who bought in was Global Max Fin and they were very loyal to the company or perhaps more to protecting their position and kept buying at a lot of times $2.25 even when the equity traded as low as $1.80 now the bought deal here is $1.20 and if I figure people usually like a minimum 20% above where their equity is trading I would put the floor around $1.44 (20% of $1.20 is 24 cents) which isn't bad but of course I would prefer to see us reach $2 and keep going. Regardless, this is fantastic news didn't know that happened!!! Exercise price $1.70 the news was one day ago! This is looking really good actually. The company is obviously flush with cash and they have been very prudent in getting things done to where we are today and to date so all this bode wells. It looks like there will be commercial news (ramp up) and getting units flowing out soon! Pretty darn exciting! good luck all.