Dov,
The following is ENTIRELY SPECULATION based on a few facts:
An old boss of mine was fond of saying that in the land of the blind, the one-eyed man is king. I am squinting thru that one eye in heavy fog.
Menon junior and Ehrlich junior both resigned their officer and Board positions, as best I understand. It is unknown whose 40 million shares are going to be cancelled, but my presumption is that it might be something like pro-rata across the Menon and Ehrlich families and that - until we hear otherwise - the families will retain much of their investment. Nothing is said about those points but they are only my presumption.
I established contact with one of the LAT officers, but not one already named as officers of what they will be calling BioVie. He and I exchanged a few emails before he deleted the LAT Pharma website and email system. He said they would make a PR during the week to give shareholders more information. I am unsure that the release this morning will be the only release. I have hopes for more.
On the one hand, my suspicion is that some of the people like me, who invested in NNAB for the NNAB-CTIX connection, will jump ship today. I will not. Some other folks who have been on the sidelines thinking about buying due solely to that connection will drop the idea.
OTOH, I suspect there will be some people trying desperately to buy in. After all, the drug LAT has been working on has orphan drug status and has been in regular use in Europe in hospitals for this indication. At a few cents per share, it sounds like a very cheap "IPO," which could be what they intend to do down the road, subject to an agreement with the Monons and Ehrlichs probably offering some of their shares as a secondary. We could also expect they are thinking of a reverse split (of 1 for 10 or 1 for 100) to get the price up and maybe consider listing. Hey, they could even decide to offer existing shares at $10 each. Just all possibilities.
Hope this didn't get you more confused. But hey, I'm using only one eye, right?
I expect this week to be very interesting.
All I say is IMHO and not to be construed as investment advice. I know nothing, as informed frequently by my wife.
