Not much choice. When you have no revenue coming in and burn cash at the rate ACT does, you have to make these kind of deals. At least this one is at virtually no discount. But it is still tough for the share price to rise and hold when it is constantly battling dilution like this. And now throw the Camofi settlement deal into the mix and it makes things potentially worse.
We'll see how things shake out though. ACT is unquestionably in a better position now than it was a year ago. Hopefully it will soon start to be reflected in the share price.
First off, shut up. Second, here is the part of the purchase agreement I am referring to:
Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”) and thereafter, the Company shall have the right, but not the obligation, to deliver to the Investor from time to time a Purchase Notice directing the Investor to buy Purchase Shares (each such purchase a “Regular Purchase”) in any amount up to 2,500,000 Purchase Shares per Purchase Notice at the applicable Purchase Price on the applicable Purchase Date; provided, however, that in no event shall the Purchase Amount of a Regular Purchase exceed One Million Dollars ($1,000,000) per Business Day.
There there is this regarding the purchase price:
(x) “Purchase Price” means, with respect to any Regular Purchase, the lower of: (i) the lowest Sale Price on the applicable Purchase Date and (ii) the arithmetic average of the three (3) lowest Closing Sale Prices for the Common Stock during the ten (10) consecutive Business Days ending on the Business Day immediately preceding such Purchase Date (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction that occurs on or after the date of this Agreement).
Can I prove that it is Lincoln? No, and I think I was clear about that. But there is a possibility. Thanks again!
I am wondering if you all had a chance to read the POSAM. It should be pretty clear now that Lincoln is selling their shares. Maybe they weren't responsible for the T-trades that were being shown after hours, but make no mistake, Lincoln is not holding onto their shares.
No, Ham you S,U-you can't decide if it was a buy or sell read your own b,s. Instead of blowing smoke-try a real possibility that the settlements are still in play and they ran out of time waiting for pps to get back here. Does anyone really know when Camofi settlement is/will be delivered for execution-no one mentioned that-Blah,blah. Don't ever tell me to shut up-use real points.