The money that will be raised with the latest offering won't go exclusively into FlutiCare commercialization. So no, it's not putting the cart before the horse. This is a growing company which isn't profitable yet. As such it is only natural to see dilution from equity financing from time to time until significant profitability is reached. I never quite understood all the dilution phobia. It's part of the game when you invest early into a pre-profitability nano- or microcap stock. It's not pretty, but more often than not there is no way around it. What's the alternative? Debt financing with heavy interest rates?
Also, the market doesn't think that the premature issuance of the Novalere shares was such a big mistake. But the next months will tell whether or not this was a smart move (because of the sell restrictions). If we get approval within the next weeks I am leaning towards a smart move as this amended agreement will prevent excessive dumping of shares shortly after approval and thus will give the share price some stability. Frankly though, it's the only decision of Dr. D I can't fully assess. We might not have enough insights into the circumstances that led him to this decision, but for now I go with the assessment of the market which doesn't see a big drama in the issuance of the shares.
His performance at Apricus is difficult to judge in retrospect. But even if we found hints of mistakes we can't conclude that his past performance is a predictor of future performance. People make mistakes all the time and they learn. Few people at this career level have an entirely clean slate.
Presently, the company is well setup in terms of management. We have experienced industry veterans in all the crucial key positions. I think the chances of the malpractice you are alluding to are rather slim.
AI
