The latest move by Mela and Cowen has just limited the upside to the current short position [25%+]. IMO by offering to underwrite a 33% +- increase [$20m on a $65+ market cap]in current market cap on no news means Mela showed them something of interest. Mela can wait for advantageous timing to offer secondary financing, market knows money is available, float is already bloated with large amount shorted and smart MM's looking to cover before long. Possibly one more push by shorts before covering, could they try for 40% of float? Management is addressing the financial side now if they turn to the marketing/promotional side................. Opinions
<<in current market cap on no news means Mela showed them something of interest>>
You see Dancer Man, A POSTER WITH LOGIC!
Although I am not expecting anything major for Q2, it will be interesting to see how they compare against analyst estimates. There is also the pending German reader study. Current cap is around 86 mil.