Why did SLI do a PP at $1.80 Agoracom thinks that it was a sign of good things to come. They still hold on to that idea that Lori knows that something big is there. The reality is that Lori increased her shares and pocketed cash so she did not care what happened to the share price. She got her bonus!
Options padding
August 31 2011 = Lori sold 1,000,000 shares at $2 for $2,000,000 cash
October 4 2011 = Lori sold 100,000 shares at $2.03 for $203,000 cash
October 7 2011 = Lori Exercised 393,333 warrants for a cost of $177,000
October 7 2011 = Lori purchased 950,000 shares in a PP at 1.80 for a cost of 1,710,000
Net profit for Lori = $316,000 (minus taxes)
Lori cashed up the company at a super inflated market cap which she knew would fail and she put $300 grand in her pocket to boot!
Very smart lady! Very dumb shareholders!