 Hey, what's up guys? It's a Chicago trader checking back in with you for the second episode of the fundamental series There should be another PDF. This one's gonna be on ATMs better known as at-the-market offerings I know a lot of you guys are familiar with these but this actually turned out to be pretty good So let's jump right into it too. So basically at-the-market offerings, so If you guys didn't watch the first video in the series be sure to go back and check it out with the shelves But one way that they can do Take shares off the shelf is not the market offering They're a little bit different because it's a set amount, right? So it may be for $30 million, but it's not at a specific price and there's not a specific amount of shares So as you can see it says it's sold at a prevailing market price So the lower it goes the more shares they can dump, you know, if the higher it goes somehow the less shares will dump So kind of just depends The nice thing about these is usually You know, if you look at the most recent 10 Q after the ATM is filed and the 424 B They'll give you an update on how much they sold and how much is left First thing I'm gonna pop into here on BAM sec is this first filing XO just to kind of show you guys what I mean So basically as you can see this is You know, it says basically XO has entered into a controlled equity offering so Sometimes what you know what'll happen is like I mentioned if you go to the 10 Q that's most recent you type in at the market You know, this might not pop up. So you got to kind of keep these names jotted down You know controlled equity offering. That's just an ATM is basically one of this So if we pop back here, I'll go to the next one. You can see another name is equity distribution agreement You know, sometimes they call it EDAs. It's not that common for abbreviated, but If I punch here, this is PTN. No idea what the company does But you can see here same thing, you know, we've entered into an equity distribution agreement with Kandicord Another one of our favorite underwriters. They can sell up to 25 million dollars of stock