$PROG - Closed position and will look for $5-$6 support zones.
I am still a believer in the long term prospects for this company. I took profits because I think it may come under selling pressure when the convertible note converts to common stock. Something that will take place over the next couple weeks.
// ---> Here is a paragraph from yesterdays share holder notice:
The Company’s expected use of proceeds from the Notes Offering and the Common Stock offering represents its current intentions based on its present
plans and business condition. As of the date of this Information Statement, the Company cannot predict with certainty all of the particular uses for the
proceeds to be received upon the completion of the Notes Offering or the Common Stock Offering.
The Company may also use a portion of the proceeds to license, acquire, or invest in complementary businesses, technology, products, or assets. However, the Company has no current commitments to do so.
The amount and timing of its actual expenditures will depend on numerous factors, including the pace and results of its research and development
efforts, the success and timing of its clinical trials, the timing and costs associated with its operations, including the manufacture and supply of products
and product candidates, the timing of regulatory submissions, and any unforeseen cash needs. As a result, the Company’s management will have broad
discretion over the use of the proceeds from the Notes Offering and the Common Stock Offering.
// ---> Here is a paragraph from yesterdays share holder notice:
The Company’s expected use of proceeds from the Notes Offering and the Common Stock offering represents its current intentions based on its present
plans and business condition. As of the date of this Information Statement, the Company cannot predict with certainty all of the particular uses for the
proceeds to be received upon the completion of the Notes Offering or the Common Stock Offering.
The Company may also use a portion of the proceeds to license, acquire, or invest in complementary businesses, technology, products, or assets. However, the Company has no current commitments to do so.
The amount and timing of its actual expenditures will depend on numerous factors, including the pace and results of its research and development
efforts, the success and timing of its clinical trials, the timing and costs associated with its operations, including the manufacture and supply of products
and product candidates, the timing of regulatory submissions, and any unforeseen cash needs. As a result, the Company’s management will have broad
discretion over the use of the proceeds from the Notes Offering and the Common Stock Offering.
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