Biopharm if PPHM wanted to keep Ronin from acquiring a larger stake in the company, while prohibiting a possible take over then running the ATM is a good strategy. It continually reduces the % stake that Ronin owns. In fact, without the ATM running Ronin would have 10%+ in stock, but it looks like 8% and even could be lower as we don't know what has been diluted recently.
The poison pill is pretty worthless at these levels as a BP could come in and offer $1.50 and then actually pay $2.25 to satisfy this criteria. Poison pill isn't going to do much in a hostile take over when your stock is trading at these levels. JMO
Lets face it, if AACR goes by and we don't get over $1 with some substantial news then an RS is inevitable. Connecting the dots and putting together the puzzle pieces is all great, but obviously nobody on Wall Street gives a damn. You could argue that's because they aren't following this stock, so don't know whats going on. I might even agree, but now a days firms have analytics software that scan everything about anything. Personally I'm not taking a shot at the company right now until after next week and the AACR along with RS decision.
I love Avid and with the right management team and funding its a $100M business. My concern is these guys might not be able to manage this effort as its not like just building a facility and lets get going. Very critical process and securing the right customers along with a steady revenue stream is challenging to say the least. If they accomplish this effort, stop running the ATM, and run the business right it could be a great recurring revenue stream. We aren't getting the proper valuation for AVID because there are still ? marks regarding ability to execute, who the customers are and how do they fund the expansion.
Add in constant dilution with a BS BOD and Wall Street along with other funds won't touch this with a 10" pole. If all these puzzle pieces had a decent amount of reality you would think we should be a lot higher, yet the ATM and BOD keeps a lid on this stock.
Time to put up as anyone believing more dilution along with a RS won't hurt shareholders is fooling themselves. I would expect some price appreciation today or Monday, if we have some actual positive substantial news coming next week. Though the fear of a RS is looming until its addressed thru price appreciation or a proper appeal. Interesting stock though the constant running of the ATM is borderline criminal from my perspective when your trying to supposedly avoid a RS. A RS will just allow the executive team to issue new options that will adjust to benefit them while still keeping the same vesting schedule and allow the company to continue selling shares thru the ATM at higher levels. Believe me that's one reason why I keep saying these guys want the RS. I don't even want to hear the argument that the SEC should investigate naked short selling or manipulation as that's not going to happen. SEC is worthless and have turned a blind eye to the entire market. That's why you very seldom see or hear about any cases these days. Ronin is our best hope right now.
Unfortunately, I can't respond to anyone's comments as I'm only allowed one post per day. Ugh
