Financing Options The fact that WHN doesn't seem interested in going to the market for money in a pp seems puzzling to some. I've been mulling over a possibility...
From the E&G article: "Westhaven Chairman and largest shareholder Gren Thomas is a wealthy man and the company has no shortage of financing options." The author of that article is being paid by WHN, so he might be biased, but he has direct access to them, and I think there might be a hint for us in that sentence.
On Nov. 14, They announced grants of options. 2.8 million options at $1.20 each, a good sized chunk of which went to Gren and Gareth Thomas. So they have no need to do a pp, which involves paying broker fees and finder fees, and giving out warrants, and getting exchange approval. They can just exercise their $3.2 million options. And since it's a rolling 10% option plan, they can then issue more options. Lather, rinse repeat.
Just pure speculation on my part.