RE:RE:Hedge fund detailsI verified the forms for both private placements of 40 cents and 70 cents.
The Hedge fund Armistice Capital Inc. did not participate in either of them for their clients. They only participated in the $ 15 million private placement with 7,500,000 shares at $ 2 each in August 2021, with warrants at $ 2.50 each.
I believe that their other 7 milllion shares were purchased on the open market, anywhere from 50 cents to $ 2.70 from April or May 2021 until August 2021.
Market changed in September 2021 due to budget concers over Biden plan, over rising interest rates and, over Federal Reserve tappering which saw many funds liquidating positions in many stocks.
I think that Armistice Capital Inc. was not immune to this situation and they may have had some client redemption requests which forced them to liquidate some of their shareholdings held for clients and, Poda may be just one of their many holdings.
Armistics Capital Inc. stills holds about 13.5 million shares of Poda or 12% of the shares outstanding. They had liquidated +/- 800,000 shares, so hardly a dent in their shareholding position.
All to say that this has nothing to do about Poda and more to do with hedge fund reshuffling for clients. Of course this has presented investors with a gift to buy shares at a deeply discounted price due to these circumstances.
Selling may be subsidizing as Armistics Capital Inc. holds a core position in Poda.
It is all good.
2022 is our year.