Bravo, see my post 17534 regarding the end of your post I’m responding to. I’m not sure what the Oasis mechanism provides that the open market can’t provide, either. If there is a market that will buy Oasis’ shares after Joe’s puts, wouldn’t that same market buy shares that GNBT sells from treasury?

As far as the “underwriting” of the Oasis funding goes, it’s not really underwriting in the sense you are thinking... they aren’t taking shares and finding buyers. They are buying shares that Joe puts to them, which they can then sell on the open market when they like. If they keep too many shares, Joe won’t be able to put more to them, so they will presumably be doing some selling.