Hi there;
Your guess is as good as mine,however I came across a theory at Bobz
advisors page,this is what was posted.
I spoke with Allan on Friday morning regarding this news release.
He said it is just a regular practise. Every three months the
company would file a letter of intend so that they may have
some lead time to exercise selling of some stocks when the company
needs to raise money. I don't think they will want to use the shares
to drive their own stock down to finance themselves then bottom fish
it back as some companies do and I won't name them...
On one stock, I recently privately arranged with that company
to buy $100,000 worth at 20% below the market price in the open
market. I placed a buy-all-or-nothing order at that low price. It
only got filled when someone sent a sell-all-or-nothing order
to match my price. Immediately afterwards I bought a small amount at the market price.
That way, it did not affect the market and the stock continues on.
Mr. Warren, in this forum a few days ago, suspected that's what happened to the
1,500,000 shares deal. I am not surprised and it didn't hurt any of us, yet!
How AmCan intends to use the stocks, I don't know, but this is better
than their former plans two months ago to finance $2,000,000 at $0.25
(Total 8 million shares with options for another 8 million shares at the same price) |
