RE:RE:New acquisition In connection with the Offering, the Company has granted the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or in part by the Underwriters, at any time and from time to time up to 30 days following the closing of the Offering, to purchase up to an additional number of: (i) Units (the "Additional Units") at the Issue Price; or (ii) additional common shares only (the "Additional Shares") at a price per Additional Share of $0.38 per Additional Share; or (iii) additional warrants comprising the Units (the "Additional Warrants") at a price per Additional Warrant of $0.04; or (iv) any combination of Additional Shares and/or Additional Warrants so long as the aggregate number of Additional Units, Additional Shares and/or Additional Warrants which may be issued under the Over-Allotment Option does not exceed 15% of the aggregate number of Unit Shares and Warrants comprising the Units sold pursuant to the base Offering to cover over-allotments, if any, and for market stabilization purposes.
The more details I read the more I realize management just crapped the bed with this "deal". Over-allotment deal at $.38 per share WTF?? Class action lawsuit please over poor performance and management.