I believe this 3B is designed as a subtle reminder being just one day out from delisting to get option holders to convert or sell so others can convert.
There is $3.2m at stake here. The options unlike many other companies options are certainly in the money. So why aren't holders converting? If they need cash they could sell some of their holdings and convert their options to recover the lost holdings and have cash left over. It's actually quite weird why people aren't doing that.
Even if they have sold the heads there is still free money to be made by dumping their options into the buy.
And why people aren't converting is telling.
Is the MC at $124m overpriced?
Would buying more shares in this company be risking ones money?
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TNG Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held
