placement, page-9

This has to be prearranged. And that street talk article did say that the placement was for $10m but it didn't say the WHOLE $10m would be made available for Ballieu clients...

Perhaps several million will be available for their clients bids and the remainder will be in the form of a placement to ERM or some other interested party.. and tied up in that will be GSA's, JV, MOU's etc. Just thinking out loud here...

It did first strike me as being a poor decision as well, but there's clearly a plan here. The FIRST day after the announcement of the SRLUP and they announce a placement.. there's a plan being rolled out here and given management's own financial interest in the company, I would expect it to be supportive of growth in the short term.