Moni is not a good comparison as it has a larger free float and is a SETS stock. The logic is that if you hit the market with a transaction over NMS the MMs are unlikley to give you the price you want. Plus you may shake out people that would not otherwise be sellers had they not seen the trade. So you dribble stock into the market and cross your fingers that there are buyers around to generate MM demand for the stock that is being dumped.
It really is standard practice and despite contrary view here, Thomas seems to have read the results and looks to have wisely made a decision to reduce.
This stock is going to need a planning approval and a large sale at a profit very quickly to make it attractive. Talk of equity exercises, waivers of pre emption riights and (I would guess) the issue of convertible debt is likely to send it in one direction only. And it is not up. IMO, of course.
The lesson for this managment is that is must have cash and it cannot capitalise bullshit to buff up its balance sheet under current accounting policies.
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