It looks like CEO Das Gupta just became minority shareholderAccording to the RBC investment portal, there were 88.1 million shares before the private placement. Of these, Das Gupta owns 45.7 million. With the private placement, the share count goes up to 92.4 million. That means that after all the dilutions, he now owns less than 50% of the company. Only desperate times could force him into this situation.
On another note: Shrimpy, wasn't there an announcement earlier in the year that Das Gupta would be loaning more shares? That would fit with today's announcement: the investor has a four-months hold on his shares, but a shareholder loan would allow him to get around that....