Ann: Extension of Share Purchase Plan closing date, page-27

I don't think this is what they were hoping to announce. I'd guess they thought they had a reasonable chance of landing a significant contract during the extension period and either didn't get it, or timing got pushed out. But I did think they might extend again if the current quarterly was going to be really strong, so guessing that won't be the case (doesn't necessarily mean it will be bad).

I don't think any other explanation is likely. I did think it was strange they made no effort promoting the SPP, no promotional presentation or anything. It was as if they didn't think they needed the extra $1.5 million, but then they extended the offer. I can't imagine they raised much beyond the institutional component.