There are some strange occurances in the market which come along once in a liftime.... Now is that time..

PNP net asset value is much higher than their market cap... In addition the last could fund buying back some of their float at further reduced prices.... and the wts are @ $3.50

In doing so this would raise the average value of each share and potentially with a turnaround in the market make funding via wts more possible.

I think PNP is the best stock for PNP to purchase right now.

A normal coarse issuer bid is waranted.

JMHO

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Pinetree Capital completes $43.19-million financing

2008-07-11 09:38 ET - News Release

Mr. Larry Goldberg reports

PINETREE CAPITAL ANNOUNCES CLOSING OF $43 MILLION PRIVATE PLACEMENT

Pinetree Capital Ltd.'s previously announced private placement has closed, raising gross proceeds of $43,193,250 though the issuance and sale of 17,277,300 units at a price of $2.50 per unit (which includes the partial exercise by the agents of their overallotment option for a total of 1,277,300 units).

Each unit comprises one common share and one-half of one common share purchase warrant of Pinetree. Each whole common share purchase warrant entitles the holder to acquire one common share at a price of $3.50 per share until expiry on July 11, 2013.