There were a considerable amount of $.05 shares that started trading on the 4th of jan. I have some, however didn't sell, but chose to transfer a bunch into my TFSA at $.20. If the announcement was timed as you say, I would also be curious to know how they sold the FT that was completed before it was announced. There were a lot of companies that did NR's yeterday so I hate to jump to conclusions on the timing, however there were a lot of us waiting and anticipating(hoping) good (better) news.