I do not like, what I saw yesterday and I'm surprised none (besides Fatwollit) pointed to the consequence of this sentence:
"sustained substantial increase in shareholder value" shall be defined as follows: "an sustained increase in Patriot's Market Capitalization to over $400 million for a period of no less than 90 days. "
One dollar a share has no effect to whatever, one dollar/share simply doesn't make any sense. Thus the math is very simple:
In order to be able to step to AMEX/NASDAQ, PTSC shares have to be at least at $5 for 90days, which means, they will do a R/S with 1:5 = 80mio shares รก $5 = 400mio market capitalization.
I really had hoped, we wouldn't need a RS or at least a smooth one with 1:2, but IMHO there is no doubt, they will do a 1:5 RS.
The only possibility for NO R/S would be a merger with a AMEX/NASDAQ listed company.
Next questionmark I had, was the timeframe of the Interim period, which is 120days AND NINE months - my understanding is, that if RG gets permanent CEO in between the 120 days Interim period his contract lasts one year. But this is the phrase I don't get:
"...providing that the interim period not exceed nine (9) months from the Effective Date..."
Maybe someone can help with me with this - any maybe someone can show me, where I'm wrong with my RS speculation...
GLTA
