so they hold 10mil shares in AXMthey can, and presumingly will,...

so they hold 10mil shares in AXM

they can, and presumingly will, subscribe for another ~1.3mil in the rights issue, and then they have they are first in line to mop up any shortfall up to $3mil which equates to a potential 15million more shares... not sure if they will get the full $3mil dollars worth in the underwrite BUT i think we have a new substantial holder in the making here, they would need about 30mil to get to the 5% but even without the title we have certainly found a cashed up backer.