SSS THINGS LOOKS BETTER NOW:
woodstock135 Share Tuesday, October 26, 2010 12:41:17 PM
Re: None Post # of 182
This is from another board. Posted yesterday by KayDay.
Tonight's call was very interesting and positive. It was nice to be able to ask questions and get comprehensive answers... though it was hard to hear everything with people joining and leaving every couple of minutes. I did walk away with a few points. Note: I couldn't take notes because I was driving so please feel free to correct any errors... I will leave details to others.
1. They have a plan and an offer of intent on the table. Alan couldn't name the company but gave details about what the offer entailed. He only just got the offer after the release on Friday and stressed that this group approached SSS. There is interest and they would partner sooner rather than later. I will leave it to someone else who took notes to explain the details.
2 They are acutely aware of the financial state of the company but have many options that will finance all of our trials including stroke. I asked about dilution and they said that it is always an option but at a higher sp... he went on to say that with the current plan there may not be a need to raise any more money and therefore no need to dilute. In other words the current plan could give them all they need to continue.
3. TBI trials are accounted for financially and should have their first patient by year end with the trial lasting 6-8 months. The US army is very interested as is their contact in the States who has himself suffered from TBI. This is something they are very excited about.
4. The end of phase II meeting is a formality and they are confident that they will move forward. The FDA doesn't grant these meetings to everyone. SSS had to submit material before hand for the FDA to allow a meeting, the fact that we have a date set is very positive. They did not have to ask for a meeting but wanted to make sure that they did everything by the book and wanted to check this off their list. With the current results the FDA should be happy and SSS has someone on their team in place who has dealt extensively with the FDA who will accompany them and be present at the meeting.
5. I asked Alan if SSS was under the impression that everyone in the stroke trial would have OT and he said YES. They were very surprised to learn that not everyone got OT as a standard treatment protocol. Our drug without OT is like steroid use without lifting weights.
6. Lastly, why did Dean Peterson buy 10% of the company... he had shares before the drop and has followed the company for a long time. When the news in May came out and he heard all the negative information and feedback, he felt that it didn't add up. Then reading the results, he didn't find them them that bad and decided to take a closer look... with DD he decided to buy more shares and wanted to get involved formally with the company.
These are the points that stuck with me and some of the questions I asked, I'm sure I have forgotten lots so I will depend on others to share. This is all from memory.
All in all, I walked away excited and feel like my decision to keep my shares and buy more was a good one. They have a solid team in place committed to treat this like a business with the priority being the product and the valuation. I only wish that they would release all this to the public in a well worded press release... what I heard tonight is nothing like the releases we have been getting. In the end, I agree with Alan ... for where we are in our trial, with the successes we have achieved, and the drugs and IP we have... SSS is grossly undervalued.
