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Wednesday, October 14, 2015 5:09:25 PM
Unfortunately Institutional Investors are needed for offerings to take place. There are two ways this can be accomplish, through a private placement or a public offering. Oncosec has had both types of funding rounds of securities, but the last two has been public. The Sec Ruling applies to public offerings which in the last two affected Oncosec, since both times the price did drop ahead of the filing. This happens all of the time with every other company that needs financial assistance and resorts to a public offering. It is a common practice that follows and even more common tactic of shorting a stock. That is one of the reasons I don’t agree with shorting, because it is used to manipulate the price in order to steal shares from honest investors. Shorting stocks defeats the purpose of growth and such practice lends itself for abusing the market.
The new Rule 105 violations is a good start for addressing such problems, however, a combined total of $2.5 million in disgorgement, interest, and penalties between 6 major financial institutional investors is like peanuts, compared to all the money stolen.
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