? really a capital raising, page-23

"Trying to get an underwriter is probably causing the delay."

I believe someone said Pattersons was underwriting, but we can't be certain as the company is taking the 'hush hush' approach with shareholders.

Since the CR is taking place right now, I'm going to assume that management believes they have a trump card up their sleeve that is so amazing it will offset the influx of 300 million shares.

Hopefully they are confident that the news is so fantastic that the sp will recover, and even increase enough to bring CTPOA in the money by expiration.
On the contrary however, if this CR is a means to replace CTPOA because they are confident it will -not- be in the money by June, JH is going to have a lot to answer to...