DSLN: caution warranted
sec.gov
initial scan of 13D indicates this ownership was in consideration of a 22mill payment last summer, with registration now effective:
"Deutsche Bank purchased the securities covered by this Statement in order to
acquire an interest in the Company for investment purposes. Deutsche Bank
intends to review continuously its position in the Company. Depending on further
evaluations of the business prospects of the Company and upon other
developments, including, but not limited to, general economic and business
conditions and stock market conditions, Deutsche Bank may (i) exercise its right
to purchase Common Stock pursuant to the Warrants, (ii) retain or dispose of all
or a portion of the Note, the Warrants and/or Common Stock beneficially owned by
it, subject to any applicable legal and contractual restrictions on its ability
to do so in privately negotiated transactions, open market sales or otherwise or
(iii) purchase or dispose of any other securities of the Company.
very unclear whether they want to be longterm backer, or whether they expected to be able to "flip" a chunk of their holdings,
too scary for me to take a position until more clarification is made...market isn't jumping on this news either.
however their presence on the board of directors would seem to indicate a longer term interest...will have to do some more reading of this filing.
DB gets to exercize warrants @.38. When this financing was announced last July the stock did its meteoric move. we all know what's transpired in the interim re. the share price
DB will have to register to sell their shares and has right to sell shares via a shelf registration...there is some hefty dilution (from 95 to 213 mill shares )with the recent registration, but 40+million cash they didn't have a week ago.
due your own DD please
mike |
