It all happened so fast....we know the forward, Thursday was the news of the overnight financing, then just before 10AM the news hit.....but the market had already reacted....the PPS had already collapsed all the way to $1.60....then after the news hit, the PPS was flat, albeit with a HUGE jump in volume....over 1 million when all the exchanges are combined.

Here's the interday chart, note that the volume is only TSX trading.

Note that this is 15 minute intervals....its obvious the bulk of the trading happened before 11am, at least on the TSX.  I show the news hitting at 09:50....but the PPS had already collapsed to $1.60 by 9:45, and then the bleeding stopped after the news came out.

Remember that a big part of the reason for overnight financing, reportedly, is to preclude a short attack.....Could it be that shorts took advantage of that 20 minute window to pile on and punish the PPS?  And then when the news hit, poooof, it stopped maybe?

I assume the details vis a vis the Citibank loan....I assume that reality is already "priced in".  I assumed it was priced in last year when the PPS was down around $1.20, priced in at the end of 2016 when the PPS was around $1.70....priced in as early as last week when the PPS was over $2....and still priced in now with the PPS at $1.65 or so.  

Nothing surprises me anymore with the way RVX trades....and more volatility next week is probably in store, but I'm thinking there's a good chance for some movement to the upside.  

The company said they had about $5 million left at the end of January 2017....and that seems to have lasted all the way into June, for 4+ months.  Now they have double that amount, with the possibility of another $10 million if warrants are excercised assuming the PPS rises back above $2.05

Fun times....never a dull moment.  Actually....lots of dull moments, but now things are at least interesting.