Feb. 11 at 4:45 PM
$PSHG If the court rules in Economou's favor, this alone doesn't guarantee his offer will succeed, because PSHG doesn't agree to sell its shares at
$3 as Economou proposes.
The offer is for all outstanding shares (12 million).
If the court rules in Economou's favor, PSHG might not be able to convert its Class C preferred shares into common shares, as they intended to do before Economou filed the lawsuit. They also won't be able to take advantage of the issued warrants.
And what will happen to the 2 million shares that Economou managed to acquire at
$3? Normally, he'll let them go. These shares are currently held by a broker who can use them to artificially inflate the price, thus enabling them to buy shares at low prices.
As you can see, there's no volume; in other words, those who can't wait will sell, and their shares will end up in the hands of those accumulating them. It's a mess.
