Thanks Fairviewhill, appreciate it.
As you mentioned, with no contract for Lanza and unfilled key positions and Myles stated need for a stable/high share price to maximize their relationship with Lincoln, all seems to suggest bankruptcy is realistically in the cards.
I hate having to admit that, but there is no upside for shareholders from this default, at least not that I can see. Someone said maybe ACTC wanted to 'pay' them instead of give shares (and avoid dilution in the process). That costs them 20% right up front (an additional $200k).. common sense would be for ACTC to buy back $1m of public shares and then transfer them rather than default, thereby saving a $200k penalty, so the theory someone suggested that somehow defaulting is cheaper holds no water. Recent activity demonstrates they certainly aren't adverse to diluting us shareholders anyway, regardless of their rhetoric to the contrary. Actions speak louder than words...
I think ACTC will continue on, but I am afraid it will be restructured via bankruptcy, and the biggest victims will of course be the shareholders who have supported ACTC all these years. This is what made me so angry yesterday evening. A total slap in the face. The fact ACTC management have made no comment to shareholders today only reinforces this fear. These people are vultures, just like Rabin was. I'm sure they will say "we made this sacrifice for the science and the betterment of humanity", but that is bs - they did it for themselves, their egos, and their bank accounts (you can be assured they will be well compensated in the future for any current personal losses).
I have nothing but contempt for these 'people', and I include Lanza in that grouping - his failing to renew his contract, and the big dump he did a year or two ago that killed a run and screwed shareholders.. clearly his first priority is himself, at our expense.
