RE:RE:MM the cause of all my pain ?Ugh I dont know where to start... my brain wonders alot when it comes to these things.
If you check the sedar website you can see they made an updat on the MM postion yesterday (13th) stating they sold 70K+ shares on sept 22 and that they would be re-evaulating their holdings of VIVO - meaning they could buy more or sell more.
Right now Im thinking that MM is making a move, either buying more or selling. IMO i think they could be trying to minimize their holdings in VIVO as they currently have significant influence over vivo and therefore they need to use the equity method or FVTPL/FVTOCI when reporting for thier investment in vivo (they need to make consolidated financials --- that would include vivo's operating losses --- ew who wants that) but also for this reason maybe they are the "bulk buyer" we keep seeing in the bids, maybe they want to push the price up to reflect a better postion on their books but if that was the case idk why they would sell 70K+ shares last month - maybe the 15K$ will be used to fund the new funding round ?
or maybe MM wants to reduce their stake in Vivo to invest in other more lurcrative investments --- we saw lots of good stocks crash the last 3 weeks and maybe MM sees some unpassable potential.
Either way, VIVO IR reached out saying they will make NR soon to explain the spikes in volumes, Probally to come tomorrow after close as the funding closing date is tomorrow.
duck it i just bought another 8K shares @ .12 yesterday ..... young and restless ;)
So context from the sedar report:
As at the end of September, 2020, MM Asset, on behalf of MMCAP, exercised control and direction over: (a) 26,893,440 Shares;
(b) an aggregate principal amount of $5,568,000 of 6% convertible debentures that mature on September 15, 2022 which will be convertible into 20,838,323 Shares at a conversion price of $0.2672; and
(c) 13,892,215 common shares purchase warrants, (the “Warrants”), each Warrant entitles the holder to purchase an additional Share at the price of $0.2672 per Share until September 15, 2022,