VistaGen Therapeutics Inc (VTGN)

[Investman432]

VSTA shareholders have little to celebrate, as management keeps finding just enough cash each quarter to allow this comatose company to stay alive. Share price is surprisingly high given the mountain of debts to Platinum and payables. While not impossible, it's a pretty unlikely that some investor will rescue this company, that has found little to no commercial interest in its inventions.

At least Shawn put his own money plus time and reputation into this -- a sign of commitment (or that he should be committed). This was always a risky start-up trying to find use for stem cells in drug discovery. Many start-ups fail. Will this drag on a few more years or will they take this behind the barn and shoot it? Companies running on fumes don't have enough money for a decent burial. If Platinum was a VC it would have merged this into something else and moved on -- but they are a bunch of overpaid young money manipulators with a lot to learn about venture and business.

I can only wonder what delusions Shawn, the Board and especially Platinum have for them to keep pretending Bergamo Acquisition Corp and its sociopathic liar CEO Hillard Herzog are a bona fide source of capital. Every aspect of BGMO screams scam -- terms of investment way too good to be true, little to no due diligence, no experience whatsoever in pharma, shell company with no audits or identifiable business, management's long history of announcing investments and deals that never happen, association with penny stock artists, crooks and conmen, SEC injunction, grey market shares, etc. Shawn, Platinum and the Board have made asses of themselves with this folly.