Feb. 4 at 5:04 AM
$MIGI After re-examining the ATM activity, the question regarding the additional issuance of 2 million shares has been resolved. On December 11, together with the disclosure that the October ATM had a
$9.6 million limit, the company simultaneously registered a
$40 million ATM through its S-3 filing. When the share count reached 3.3 million that day, the company’s market value would have been approximately
$110 million. After that, the company appears to have continued drawing on the
$40 million S-3 ATM, resulting in approximately 2 million additional shares being issued via the ATM (roughly
$8–9 million). Mawson’s management is truly pathetic. I expected the company to pursue a PIPE or some other form of financing. I was naive. Management gave no consideration to shareholder dilution and chose the easiest and most irresponsible option: the ATM. You talk about protecting shareholders, yet you abuse the ATM?
