it's no wonder that you're a TLC investor...(& easily fooled)
2,000 contracts=200,000 shares sold by warrant investors.
the day before, 600,000 shares were sold by selling 6000 call option contracts, again all do for April. why april?
because the warrant are convertible by then.
ps:trader dave, do you know why TLC was able to raise cash in Canada
for company that's worth nothing?
Lead underwriter, Griffiths- McBurney, originally worked for Fogler-Rubinoff....Rubinoff doesn't that sound familiar?
TLC has used the Reg S to raise cash, and indirectly sell TLC shares back to US investors.
Warrant holders can hedge their positions now, there's no restriction on that, the only restriction is they can't convert the warrants into softkey stock yet, but that's a none issue for them (because they're essentially holding it)
The whole deal was struck to act quickly, hype the stock, hype the Mindscape deal before US investors knew what all the Mindscape liabilities were, as we are now slowly starting to find out.
Griffiths McBurney are known for fast deals.
The whole underwriting was issued as a fast, no risk deal to the investors.
good luck all TLC investors. |
