This is them selling to speculators while they can at these levels this will surely like 1000 000% sure drop below 1.50 once they are done with their scam. It's not buying time yet, anyways the shares they offered have probably started today or like someone else said it might be shorts pulling their last strings before they all call it quits. they did a great job juicing this company till the last drop
true, but consider how difficult it presently is for shorts to cover without jacking the price. This is unique because of the size of the short position, esp as a % of outstanding shares. everyone wants to behead the CFO but it appears he has good command of what has to be done to survive now, and prosper in the future.
actually this is good for the company and it wont raise the PPS in any way. The secondary offering will be entirely bought by shorts, its funny the offering is almost as much as the shares short its as if management was shorting this stock lol