The stock has been held in check since the CAFC decision- quick rise to 1.39 was brought down just as and we traded in the 1.05-1.10 range. Every attempt to move the stock was met by selling. It was obvious something was going on and the trading pattern was not regular with the ask being dropped close to lower bids day after day. Retail buyers created support in the 1.15 range and in the end it was close enough to the $1 to do the deal. Last time we went through this with wellington they dropped it like a stone from 1.90 to .90 afterwhich it recovered. I do not like to see this simply because I am a long term shareholder and prefer a company try to taise capital fro shareholders but clearly time was an issue. there is no secret to the listing review and the company had to get enough capital to give them some brathing space so they do not face another of these down the road. Obviously the terms of the Bomgar deal did not involve any big cash settlement, but the strategy has yet to be revealed which I am sure will play a big role in future negotiations with infringers.
So I set my concerns aside for now and look forward to stability and assurity that the company maintain its listing. The dilution was about as small as we could likely expect and really is not going to be a big deal in the end and on top of this there SHOULD now be some impetus to further buying as new clients will be hustled. If indeed the selling is out of the way we should see some very positive action.
There is right now no negative overhangs on the company. The decision of the examiner was very important to us as any other decision would have tanked the stock. The new players should be most excited about this. However it is a shame that the listing review preceded the CAFC and USPTO decision as the same capital likely could have been raised much less. On the other hand the clouds seemed to be clearing out big time. I have been concerned because two pieces of excellent news for the company were not met with much stock appreciation. Heaven we briefly saw 1.14 a couple of months ago before it dipped back to the .80's.
Survival is what it is and we are far better off to have funds pushing the stock.