RE: News!!"Management has concluded on a preliminary basis that the quickest and least expensive way to raise additional capital will be through a private placement in reliance upon registration and prospectus exemptions available in Canada and United States. A rights offering was rejected as a viable alternative to a private placement due to costs and complexity. PYT is proposing to raise up to $1,000.000".
You just had to know that was coming! Mike Jacobs is one smart guy. He waits until tax loss selling time to mask a price drop to a level more conducive to attracting an investor(s) to take down the pp. What a game this is! My one question is, Why the need to raise so much money? If they're on the verge of major sales what do they need the 1 mil. for? Just a hunch but I can't help wondering if some big money isn't sniffing around at the possibility of a takeover. Please, please. Cat.