Saturday, August 13, 2016 12:23:35 AM
Link to Opposition to Motion to Dismiss:
filed 2016-07-14 23:15:51
http://ia600400.us.archive.org/31/items/gov.uscourts.nysd.451756/gov.uscourts.nysd.451756.65.0.pdf
Pulp fiction was never so good. :)
An example of a bit of specious BS therein. They're trying to establish a motive for their fantasy world portrayel of Anavex as desperate to get money through a scandalous stock promotion and manipulation plot. So far they've failed on motive (along with everything else).
This assertion either assumes ignorance about how to read a financial report or is yet another a pathetic attempt to be misleading. Ironically, something they accuse the defendants of. Are they trying to scam the judge now? Amazing.
"Anavex has suffered from immense deficits as a result of its lack of progress. The
Company’s accumulated deficit as of December 31, 2015 was $67,235,964."
"Suffered", that's rich! :)
That's not debt! Despite the misleading implication. That's paid in capital. In other words, it's simply an informational total of all the money paid in by initial buyers of the stock from day one. With about 36M outstanding shares that comes to an average of a little under $2 / share. Even at $3, shares subsequently trading back and forth in the float, that's not a bad average appreciation of value for investors, overall. Now, if the company sells some more of its authorized shares to raise capital, the money they receive for those shares when they go out the door to become outstanding shares, thereafter, that money they keep, to spend on whatever company requirement they decide. Or add it the the $10M cash on hand. They don't have to pay it back to anybody. That's the whole idea behind stock (as opposed to bonds).
The only actual debt I see in the financial report is a couple of promisory notes to a couple of former directors totalling $87,887 issued in 2013 and paying 12% interest. Niether has cashed their's in, evidently preferring to collect the interest. That's miniscule for a developmental stage company.
Most homeowners probably owe more on their mortgages.
Recent AVXL News
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- Anavex Life Sciences to Present at the 23rd Annual Needham Virtual Healthcare Conference • GlobeNewswire Inc. • 03/25/2024 11:30:00 AM
- The Gross Law Firm Notifies Anavex Life Sciences Corporation Investors of a Class Action Lawsuit and Upcoming Deadline • PR Newswire (US) • 03/22/2024 09:45:00 AM
- Anavex Life Sciences Initiates Placebo-Controlled U.S. Phase 2 Clinical Trial of ANAVEX®3-71 in Schizophrenia • GlobeNewswire Inc. • 03/18/2024 11:30:00 AM
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