PLS IPO @ 4.80 x 13.5MM = $64,800,000 MKT CAPHmmm....
$64.8MM / ~35MM (HBK) = $1.85 per share.
PLS has issued a lot more shares since then...What's their market cap now?
Why are you or your friends selling?
Palladn
Polaris went public on the Toronto Stock Exchange a year ago, selling 13.5 million shares at $4.80. Mr. Romero says the company went public reluctantly to finance the development of Orca. Attempts to raise funds privately didn't work, because financing partners were often too interested in taking control of the business, he says. "Every time we talked to someone about financing our business, they wanted to own it; they wanted to control it," Mr. Romero says. "We didn't want to lose control of the business because we think we have very significant growth prospects.
[Yea...so does HBK...the financings have been 'distributed'...]