A lot of people take it as a given that the public equity markets are manipulated....believing like Granville that the markets are designed to transfer money from retail investors to smart money industry players.  

If that's true, and I am solidly in the camp that believes it is....then stretching things out as long as possible has a certain macheavelian logic in my opinion.  Remember last year when the PPS was in and around $1.30....there was the prospect of another overnight type share offering that tanked the PPS on a big spike of short selling.  That proposed offering wasn't withdrawn until June 8th.  

I bet everyone now wishes they'd bought back then....or bought more than they did.  

Hindsight is 20/20 of course....and nobody can say with absolute certainty that everything will work out with this Third Eye loan....but assuming it does I like the chances that there will be some looking back again and saying "dang, I wish I'd bought more when the PPS was just $3.25".