The kicker with the CR were the options. IF JV were to be signed before CR, then those options are free money.
If I am a company that's prudent, I won't be giving away free money. If I'm the company and knowing the JV will be ready soon, I'd rather raise at a higher price rather than raise 1.5m via a rights issue, at a discount, and give away options that'll be in the money, for nothing.
MNM Price at posting:
8.1¢ Sentiment: None Disclosure: Held
