"dead in the water" maybe for replacement as i'm pretty sure Pattersons underwrote just under 50% of PYCO and the reminder where shareholders/directors....
But in terms of the DITW i guess thats the same as saying any new deals are also DITW in the next 11 weeks...
Sure PYCOA is the safe bet but they are travelling at fairly large premium - if a significant development is made then the value to purchase stock from that point in percentage terms is far greater albeit MUCH higher risk of proving worthless should it fail to happen.
Suppose PYC is boosted 200% within the period to 21c then from current levels for conversion & attatching no time premium. PYCOA offer 200% against PYCO 1,600%...
Just rambling :-)
PYC Price at posting:
6.7¢ Sentiment: None Disclosure: Held
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