Almost 4 million more shares to be sold if Mr. Seow converts all of his Class A...
Enerplex sales are weak at best..
Surprised they claim 4.9 M still in the kitty as of 9/30 unless thre was another stealth secondary...
"During September and October 2013, Mr. Seow converted a total of 387,610 shares of Series A Preferred Stock. Upon such conversion, the Company issued to Mr. Seow a total 4,897,872 shares of Common Stock in accordance with the terms of the Series A Preferred Stock.
3,876,100 of such shares were issued in accordance with the applicable 1-for-10 conversion ratio. 1,021,772 of such shares were issued in payment (in lieu of cash) of the accrued dividend and make-whole amounts applicable to the Series A Preferred Stock.
The Company did not receive any additional proceeds in connection with the conversion transactions.
All of the shares of Common Stock described in this Current Report on Form 8-K were offered and sold in reliance upon the exemption from registration pursuant to Section 3(a)(9) under the Securities Act of 1933, as amended ("Securities Act"). "
See if you can figure out this new secondary...how many shares total common might come in and what the dividend rate will be. I will have to read it a few times. At first glance it looks like a pump to above $1.35 is called for with subsequent insider selling to cap the rallyat $1.50.
Trying to convince myself...Still long term sell but maybe short term trading buy after the earnings release.