Saturday, July 22, 2017 1:53:42 AM
The $7 quote was not mine. (Check and you will see). So it's probably a safe bet you do not know what I was looking at!
Let's look together though shall we?
(Copy and past from chart by the way)
3.63 Oct 3, 2016 (beginning)
2.77 Nov 3, 2016 (midway point)
4.00 Nov 29, 2016 (end point)
Looks like 2016 to me, not 2015
Either end of that time frame were the high points....everything in between was lower.
So though your endpoints are correct it has nothing to do with my point.
Somehow Anavex put ~$8 million on the books during that time window, correct?
All you have to do to is show us where that money came from if not from LPC. Otherwise, I believe it's a fair assumption to believe that Anavex "put" shares to LPC during that period and probably even used the accelerated purchase clause of their agreement to do it. Notice share price bottomed just below $3?
Is this why?
"The Company may deliver an Accelerated Purchase Notice to the Investor only on a Purchase Date on which the Company also properly submitted a Regular Purchase Notice for a Regular Purchase and the Closing Sale Price is not below $3.00..."
https://www.sec.gov/Archives/edgar/data/1314052/000161577415003021/s102057_exhibit10-1.htm
Nothing wrong with Anavex during any of this by the way. That's what LPC is for (covert dilution to put operating cash in the coffers of a company that has no revenue).
I think it not a stretch to believe today's stock price action was a similar circumstance.
Anavex was just recently authorized to put 5 million more shares to LPC to finish off the $50,000,000 ELOC. They apparently didn't flinch at doing just that last time even with the share price at less than $4. Why would they hesitate now? (Secret partnership any day aside)
They are probably filling up the piggy bank in preparation for trials to start soon.
Prediction: Stock price might bounce up a little from here but will fall back to just below $3 in the next week or so.
Once the dilution is over, investors will be pleased to see cash on the books and trials starting and there will be happiness and joy across Anavex land.
See, I ended on a happy note!
Recent AVXL News
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