Did anyone listen to the conference call? Did PTX management address the Cypress put option? Per the purchase agreement, Cypress shareholders can put 4+ million shares back to PTX during January 2014 at around $5/share. The total comes to around $24 million. I am wondering how PTX plans to settle the put if they have only $10 million in cash as of 9/30, and do not appear to be generating any more.
It is currently 3.56 million shares held and PUT is at $5.38. Using today's closing price of $2.19 gives a liability of $5.38 - $2.19 = $3.19; $3.19 X 3.56 million = $11.35 million. The PUT options are can only be exercised in January 2014 on shares that they still hold. If the stock price is higher then the liability gets reduced. Where will PTX be trading in January 2014?