Hopefully the financing works...It's good that they got the $.5M from an existing shareholder...he has a good deal...8% is damn generous, but MBX was cash strapped. And an angle on 550K shares @ 90c.
A few observations...
1. It should let the market know that the insiders are confident in the company's short term prospects.
2. The insider deal is one of the problems with MBX, they never go to the market for funds, so Bay St. doesn't give a hoot about them (or us as shareholders).
3. If the stock ever pops over $1....the guy sitting on the convertible note would probably short the stock to lock in his profits, since he knows he has 550K shares @ 90c any time he wants.
4. The "licensing deal" would be nice...but we have all heard thaaaat before! Probably another eternal secret from MBX mgt and we'll never know the partner. No sense letting the shareholders know what's going on.