One of my contacts asked IBK if they could do a very large private placement sourced off shore about 2 weeks before the announcement. The answer was no financing was planned.

Fj. So you're saying a few weeks ago no PP was planned. So somewhere in the past few weeks they have seen a need to do the PP? Why?

They have changed their plans and needed the money?

Maybe it's a part of a deal with some other company that has been worked out either as a buy out or a partnership?

Maybe it has something to do with the poison pill protection and those number of shares will be in friendly hands?

There could be many reasons.

Whatever the reason they didn't need the money from these off shore people you talk about and that was a few weeks ago. Since then they did need PP not from the people you talk about but some other select person, group or company?

This is getting to sound like a murder mystery contest.