Joe, you have just identified another "floorless" situation. Anyone buying IMMU because of the new lows will have to realize that in a floorless situation the angels providing the money use the public stockholders to get rfunded.
Has anyone seen the document itself? Does it have a clause against hedging or selling short the common against the convertible debentures? If such a clause is absent, this stock could find itsel below 1 by the time this ebar is over.
This is just my opinion, but I have seen too many floorless in action, examples, CTYS, CHTL, GATE (finally out of this problem), EXSO, AKSEF (also out of the problem), TTRIF, and the list goes on.
Zeev |
