RE:RE:Rightspennydredful wrote:
I predict Tolnai will get zero shares but will pocket the $250000 for doing diddly -----an unneccessary waste of money by the company and shareholders.
That is the risk, but I predict less than 40% of rights will be exercised and he will take up the rest, It could be close, but the fact that the shares were trading at 2.5 to 3 cents, means that there was not a great incentive to exercise, and no incentive to buy rights and exercise. So how many people suffering in this mess took the time to double up their position when they can buy as much as they want at 3 cents anyways,
If it is close, like 50%, then I think he will still get in. I expect he has some plans to raise capital and use this as his vehicle. But the risk is he bails out, and PNP is forced to sell illiquid assets for pennies and we end up worthless...! A valid reason not to exercise and wait and see...
As always with Pinetree, it's a gamble...