Haha no idea.
At a guess I don’t think they would expect to pick it up at .045, as for their plan on the surface it looks doomed, however surely they anticipated some reaction from management and have a Plan B.
So I wander if they have an alternative motive or something else up their sleeve, the key number is 50% and control.
They would need support from large holders, perhaps they sell and are given an opportunity to get back in when they do the raise which they mentioned, of course this would be executed totally above board of course.
MAT now wants to sell Lake Carey, so things are getting stirred up, also noticed Bulletin who are mixed up in this having a little run, would not surprise me if PTN is taking a position to stifle their holding of MAT.
I don’t think we’ll know for a while but I think their chances are actually good and even if they don’t get the numbers it allows them to secure a large voting block above 20% which they could use to grind the company to a halt. Large holders might be happy to take a decent profit and get out of the way as they realise it could get messy or PTN could use their holdings and churn the price down.
It’s certainly interesting but yeah I just let Delphi do their thing and hopefully one day I can cash out of here at a reasonable profit because I would rather be in an ETF than the Delphi investment fund.
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