They likely pulled up many additional $$ already from last 2 secondaries.... I'm talking of warrants, as pps went above conversion more than once.
2.5 Mils warrants @ 2..... 5 Mil$.
7 Mils warrants @ 1.5.... 10.5 Mil$
I think we likely have NOW additional 15.5 Mil$ (we'll know more at next qrt report).
Anyway, the most important thing is - in next secondary - a pps above 1.4$ and warrants above 2$,,,,,, or a combination of the two featuring an **higher** avg sale.
This is how you create value. Even with secondaries offering. And the october secondary Vs the march's one, followed that rule. So it was OK.
PK, how many shares of Ballard do you own? Cricket, Cricket...... You are the basher and I am the investor. We have seen Ballard pull the trigger when they have less than 20 million in cash reserves in the past. Since Ballard is still burning cash they will need to raise more funds eventually. How long will it take Ballard to burn through the 14 million they got from the October offering? About 2 quarters.