$15m share placement and strategic alliance , page-69

Agree, whatever the detail of the metrics it just says to me that someone wants to throw $15M in to buy a stake in something they obviuosly think will pay them back. Its a huge vote of confidence on the one hand, but is also validation of what Gus and the management team have been touting for so long - it shows they are to be believed (not that we have a problem in this area).

The last time I saw this happen was with Giralia (GIR), who were a holder of PEN. They jagged a strategic partner in mid or early 2009 from memory who, who bought roughly a 10% stake at the same level of premium ($1.30 from memory), the price plummeted to around 40c or so, they didn't sell, 18 months later GIR was taken over at 3 times what the partner paid (around $4)and 10 times the low that befell the company in between times. I know all situations are different but the confidence is now out there that PEN will do something similiar.