Something Just Not Right Here, Why Would They Need The Csh, They Have 28M As Of 9/30/13
Im trying to figure out why they need an xtra 7.5M ???? It's a puzzle to me.
They have already pre-announced their earnings on Oct 4th news release.
So they actually beat the street on the earnings, What we dont know is the share count and other Misc earnings news.
Somebody may know the answer, Please inform us, I am beginning to think the shorts may be right on this one, They very well MAY do a R/S, And to be honest, They really dont need to do one because under the Delisting rules they very well may be granted another 180 day extension by Nasdaq (( Additional Compliance Period for NCM Listed Companies: If a company listed on the NCM is unable to regain compliance with the $1.00 minimum bid price requirement within the initial 180 day period, it will receive a second 180 day grace period provided the company (a) has at least $1 million in market value ))
For its fiscal third quarter 2013, the Company expects cash utilization to be between $7.0-8.0 million, as compared to its previous guidance of $9.0-10.0 million for the period. For its fiscal fourth quarter 2013, the Company currently expects cash utilization to be at the lower end of its previous guidance of $6.0-8.0 million. Additionally, as a result of the initiatives implemented over the past three weeks, the Company expects to reduce annual operating costs by approximately $10 million. The Company believes that these actions will help preserve the Company`s ability to initiate the strategic objectives currently under evaluation. Most of the savings are expected to come from marketing, administrative expenses and research and development. As of September, 30 2013, the Company estimates cash and cash equivalents of approximately $28 million.
Raise cash when you can not when you need. It was pumped higher than it ever should have been. Perfect time for an offering. You don't offer when the pps is low. They know the RS is coming so they are doing this now. This was the best short I have ever played. Thank you so much for pumping this to the moon so I could short it to the ground again.