I was just in touch with company president David Bending and can confirm that the PP is being repriced to 20 cents. The stock is trading relatively light and depending on whether the last trade is on the bid or hitting the offer, the trading range is close enough to the new issue price that it should not represent a problem for institutional investors, given that a full warrant is attached to make the deal more attractive. David is expecting that the deal will close within a matter of days, and that should remove some of the question marks from the situation and take away some of the downside momentum in the share price.

cheers!

Mike Kachanovsky

IR Consultant