Susie, a tranche is literally a "slice", "une tranche de pain" meaning "a slice of bread".
It would be best to delay comments until the details of each "tranche" are revealed. Nevertheless, if one is to believe the wording of the release, this does not seems to be a floorless issue. That should relieve some of the pressure on TSIG stock, how much, I know not. It depends how much of the former convertible is still out there, and what are the true terms of this financing. The financing has attached warrants, but apart of stating these warrants are "above markets" it does not say how many warrants for each share, what is the pricing of the first $1.5 MM its timing etc. Nevertheless, it is floorless and thus, if you believe the business plan, you should rejoice.
Do not forget to take into account, however, other aspects of TSIG business and its management, thus, IMHO, you should not get too excited and use this rally to actually cash in some chip.
My work here is done. If you believe the plan, you can get shares well under $.07 which is quite a discount from the first warning I sounded here when the stock was at $.40.
Good luck.
Zeev |
