E-Mail Response From Gary Rabin
From th eprivate board.
Elliot to Advanced
show details 4:13 PM (16 minutes ago)
Dear All:
That was a great conference call and my investing spirit is
invigorated as we approach the beginning of Phase I/II clinical trials
with a company that has delivered us investors 2 of the 3 first ever
FDA approvals to use hESCs. Not only are they are nice enough to
secure the blastomere patent, orphan designation of RPE cells, but
they've also decided to focus their initial work on the low-hanging
fruit of viable therapies using hESCs.
Please see below e-mail response from Mr. Rabin. I think you will
find it quite clear that the management of ACT would only consider a R/
S if it is ADVANTAGEOUS, as they do not want to alienate the many
shareholders.
from Gary Rabin
to Elliot T
date Mon, Mar 21, 2011 at 3:25 PM
subject RE: Conference Call
mailed-by advancedcell.com
Elliot,
Thanks for your note. I have looked at all of the data on reverse
splits, and know quite well that doing one that is not tied to some
significant event is shown by the data to be value destructive. I
certainly wouldn’t want to do that.
We have had a lot of interest in the company by institutional biotech/
healthcare investors, many of which cannot buy stocks on the OTCBB or
sub $1, $2, and $5 equities. Obviously, at some point in the future,
if it is advantageous for us to do RS (and only if!), we would
consider it, but in the meantime, we do not want to alienate our many
shareholders. I think you can see that we are running this company
for a big future, not for short term movements in the stock.
Best regards,
Gary
