Ticker: It's all there in the 8/04/98 8K. Ya just got to wade through 10 miles of legalese to find it. I bow to Mooter, et.al., who are probably use to wading through that stuff, for the final interpretation but to me those milestones signal that VLNC is about to undergo a "rapid fire" transition from an R&D shop to a full commercial operation. Of course, the caveat is IF everything's as far along as us bull's hope, eh? Over on the Yahoo thread there's been this worry about the financing being a short seller's dream, particularly for the VLNC purchaser. I discount this because of Article I, Purchase and Sale of Securities, section 4.14 entitled Hedging Transactions as well as that one particular condition of milestone 3, ie. the stock price needs to be at or above $3 a share for it to be implemented. This kind of limit's the short's potential, no?
But as I said above, it's possible I'm misinterpreting this so I bow to the "bean counters" amongst us, mooter, et.al.. ;-)
Regards!
John~ |
