Something is afoot, page-64

Absolutely great for an overstocked TRS, so much crap they couldn't sell and this may be a bit of a gift in that respect, stock levels have risen to ridiculous levels to the point it would be listed as one of my biggest concerns with TRS.
Very curios to see what happens here as I can't see the underwriting going ahead at this point, raising will likely be a failure unless we see some more creeping up the share registry next week moving towards a full takeover, would not be difficult at this point, existing major holders may have the chance to essentially seal the takeover with the raising by going for massive over-subscription and big on market purchases on the day of closure onward.
Would not be difficult to get a very substantial stake before even hitting $3, anyone willing to go for it may even get the deal done at under $4 now the way things are going.
Unless there's either massive buying by takeover suitors in the next week or there's a nice little announcement about incredibly elevated sales over the last few weeks this raising is going to fail miserably
On the bright side though, maybe it's not actually needed?
The cash injection from actually selling a good portion of the stock overhang (an assumption at this point) should be decent, also we will have at least some of the funds raised from major holders who have committed to taking their full allocation, just going by the major holder and BOD we should raise at least 35% of expected funds, lets say $8m to be conservative.
I think recent surge in sales (again it's assumed at this point but a pretty safe assumption) should make up at least another $5-10m IMO (a 2.5-5% increase for the Quarter), obviously this also ignores the fact after this ridiculous buy up of goods that people wont need them for a substantial period of time, if I was TRS I would not re-stock ANY of the crap people are stockpiling once the warehouse is cleared, this is a one-off boon if it's managed correctly IMO.