Baddogfish,

In case nobody else answered your question: PP is Private Placement. It's an investment deal the company does with "invited parties", buying stock at a discount from then market price, and often with some sweetener to increase the total investment.

SLI did one for $4.5M in October last year. 2.5 million shares were sold to a group of investors, at $1.80 per share (about $0.20 less than then current market price). Each PP share came with a warrant (the sweetener); the option to buy another share at $2.10, valid until October 2012. Since the stock was then near $2.00 and expected to rise sharply and soon, a warrant (option) price of $2.10 with a one year expiry period looked like a pretty sweet deal indeed.

The reason you see this come us so much is that our President, Lori, was a participant in that PP - to the tune of 950,000 share (correct me, team, if I'm wrong on that number), or about $1.7 million. When you see references to "skin in the game" this is what we're referring to. She bought those shares at $1.80 each and today they are worth $0.69! She has more incentive to prove this venture and recover the stock price than most of us here.

Welcome aboard. Stay long. There are no dumb questions, except the ones that are not asked.

NoWorries