Ann: US Sales Update, page-260

The SP drops to the CR level....depending on the deal that EDE does with the underwriter, if they get an underwriter.

The Solomons have had a knack of giving a bit of a discount when they raise capital so I imagine the CR will be done under the SP by a couple of cents at least.

And the way the SP has dropped 2 cents in the last 2 days, I think a CR is in the planning stages, and a couple of people close to the company are in the know.

The CR has to be under the current price, otherwise the financial advantage / temptation to buy via the CR dissappears. It is a money game after all. Although in this case and many others I would not be surprised if these fund managers that provide capital are shorting the stock to get it down so they can push the Solomons to raise at a lower price, especially if they need to underwrite it.

But I dont think the Solomons will need to have the CR underwritten. It should be over-subscribed quite easily. And I hope the fund manager is paid in cash. No shares. No temptation for these bastards to start manipulating the stock price.

I hope they do a small CR at something around 12c to get a few mill in the bank, to get past the current cash cycle for 2 years ie. 5M at 12c is 41.6M shares. Not underwritten, cash for fees.