Based on all their comments we probably have to assume that they were desperately trying to push through the paperwork for the R&D rebate to get their hands on some cash. I don't think they have ever got their hands on the cash before Oct / Nov in the past and usually well into the following year so not sure how confident they can be about that. They need it real soon.
Additionally based on their comments they may think that they will have something to announce which will pep up the SP sufficiently to get the options over the line. If thats the case they can't play that card until Oct at the earliest since few are going to exercise early if the price went up tomorrow. Risk would still be too high this far out from expiry.
So in my mind there are a few scenarios:
a) They think they can get the R&D money soon enough to get them through this quarter and close enough to realistic option exercise window then drop some news which gets the options over the line.
b) They are repeating their usual denials about the need for a CR right up until the day they announce one, just like 2022.
c) They are in la la land.
d) There really is a secret negotiation for a trillion dollar deal and saying that they their "preference for funding" was from the options exercise is actually a clever ploy not to talk about the deal.
At this point its anybody's guess since their little talk fest a few weeks ago was more like a "Where's Wally" with regard to answers.
BIT Price at posting:
3.1¢ Sentiment: None Disclosure: Held
