> They have nothing to lose and are just 'hit and run' money lenders diguised as 'investors'
Cstick, I would agree with you except that over the past week or two since I have begun going through S-3 postings in Edgar, I seem to come across the same "sharks" in the "bad news to shareholder" placements.
And when I looked at the list of names on the CDRD S-3, I don't recognize the "great whites."
I was surprised CDRD paid something like 10 million to Libra to do the placement. . . now that I have been looking over placements, this seems like a rediculous amount - probably why they dumped them and will use a new firm for next placement.
That is, they paid 10 million for placement to raise 135 million.
I suppose could be construed in a bad light (paid to much)
or good light (that Libra worked its tail off to find investors who would not shaft the company ASAP with the convertibles).
FWIW, it seems CDRD has built a sort of base over the past 2 days - inching higher. I was surprised today . . . when I arrived to check trading, I expected to see CDRD _punished_ with Nasdaq down $10 or $11, but instead CDRD held to the mid-15's
Nasdaq National Market listing, quarterly report *perhaps glowing as there may not have been conversions*, as well as press releases about the progress of the Loral satellite may push CDRD back to the $17's.
Like John G. reported earlier, something like 90% of S-3's are "rejected" such that the company must file S-3/A - time to convert is still awhile off IMHO.
In late June I believe Mutual Funds must report their holdings and changes - it will be interesting to see what the funds who bought the convertible are doing. . . (did they take possession of shares - did they sell etc. . .)
Cheers. George |
