S1/A Filing is to register unregistered shares from the PIK Financing... A non event
I know what this means, but why doesn't the company do press releases to explain to non financial people. Kathy trying to express selling? IBS has millions of registered shares they could sell for years even without the S1/a. I wouldn't read into it. These people werre involved in unregistered shares from the pik financing and this filing properly registers for sales if they want to. That's what I understand from my finance career; but the company should press release and explain.
The PIK holders from prior years at .75 are exercising their right to convert their note to common shares. Such an action is typical when a positive event is forthcoming and I would expect news of sales to be very imminent given the recent JV. The recent PIK holders for 3mm still have another year to convert at 1.00. Stay tuned.
But that's my point, Putz. They are registering these shares so the holders can sell if they want to do so. Are they just registering all these shares now as part of an end-of-year "housekeeping" or is this because there is the potential for a big run-up based on the announcement of a sale and these people want to be able to profit - or because these people want to be able to sell to get some money out before it tanks? The prospectus clearly states that Applied will not financially benefit from the sale of these shares so the money goes to the stockholders who are offering the shares. Will they cash out or hold?
All these people have to register their shares sometime... IBS is going to sell on no news 8 or 16 mill shares how? If they wanted to sell they had registered shares.. I believe it is just good business to have the same right to sell as you or me especially since all those on he list bailedthiscompany out when there was no commercialization, there were lawsuits, etc.
I defend no one, just analyze the situation as houseKeeping as you put it.
Happy New Year, you are probably the best poster on this board.