Stalemate at the moment. With 30 million options exercisable at 24.55c and maybe half in short term hands, there is effectively 15 million for sale at 25c or slightly above.
Significant indigestion for a stock such as USA.
However today is last day for trading options so will no longer be able to pick up USA at 24.65c (.1c usao + 24.55c) from tomorrow.
This will be a positive.
Some option holders will sell USA into strength in the ords above 25c in the next week and exercise at 24.55c rather than lapse.
Think at least half the options will lapse at this stage.
Hopefully $4 million is enough for the company to operate without equity issues in next month but to be seen.
On balance, expect USA to clearly break 25c barrier after the 18th.
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