per Tonoos/I.V./NAVB MESSAGE BOARD/3/18/2013/: "Warrant Exercise: In March 2013, Montaur exercised 3,000,000 of the Series X warrants in exchange for issuance of 3,000,000 shares of our common stock, resulting in gross proceeds of $1,380,000"
the question is could 3,000,000 shares put on the open market by P.M. combined with other trading dynamics generate a 25million shares+- trade over the past 4days? yes and the most plausible reason to date as to why inmho.
thank-you Tonoos for the time to find and make available.
Mgmnt mentioned on the CC it occured on/about 3/1. The 10K would have disclosed any additional conversions between 3/6 and 3/17 - which it did not. Anything beyond 3/18....we'll have to wait to find out. It's a documented fact the many instances of prior conversions have been followed by extremely high volume and selling pressure, regardless of by whom. Most recent documented was approximately 1.7M shares in December. Fact - there are plenty of other shares (e.g. PM, Bupp,) that could have been sold recently from existing positions....emphasis on "could have". IMO - I am not aware of any material reason to convert a non-expiring warrant (or P-share) other than to sell (noting proxy is also a plausable reason). IMO - many longs were/are actually hoping that PM is selling, as this further reduces the overhang and future sell pressure. With all deserved respect...I am interested as to why DDbuyer did not mention the conversion in his discussion highlights, or lack therof. PM is well aware that their positions/dispositions are followed closely and IMO acts, not reacts, to whatever opportunities thay have. It's not a bash by anyone, rather a reasonable factor to explain why the SP isn't already over $5. BOL Everyone.
I have been in communication with Dr. Mike Goldberg at Platinum Montaur regarding the selling rumor, and have his permission to share the highlights of that exchange.
Dr. Goldberg was emphatic that PM is NOT a seller of the stock, as the rumor suggests. He reminded me that PM has invested a great deal of money in Navidea because they are believers in the future of the company.
While there will most likely come a point when they will sell their NAVB holdings, Dr. Goldberg reiterated to me that PM is not a seller at these prices.