Well, I am disppointed to see this as I was expecting to see ALR release some of their results, get the share price up and raise money from the warrants they extended unti June or July.

On the flipside of this, there has been consistent Insider buying at higher prices and this seems to be a peculiar time to raise capital. Alder has bebuilt their company with new management and with a new entry price (sub 15 cents..my average cost is still above that).

This financing is one of two things in my opinion. It's either a backstep from the original plan of trying to get the warrants exercised and now a cheaper and much more dilutive financing...OR...it's a an opportunity for people close to Forbes and Manhattan to secure a bigger share of the company and protect it's assets going forward, as positive results are released.

I've seen this before with Castillian where Stan Bharti almost took the entire PP himself of $2M. The fact that this is non-brokered and so soon after so many insider buys is leading me to believe this is the former. It sucks to not be at the front of the line on these plays but I don't think buying at these levels puts you too far off.

It looking, smelling, sounding, behaving like a good opportunity here - but you never know. Volume has been fairly low up until yesterday.

Also intersting is that so many shares traded above the PP price yesterday! Normallly that would never happen and I am trying to get a piece of it myself...and find out more information. I have a hunch it's largely comprised of Forbes Manhattan 'family'