Just something interesting I'm finding out today. SK was a class III board of director of GALE since 2006. But he quit last year at the end of his term. GALE was the same toxic diluted small bio and not looking too good with the lead product and canceled license agreement. RS was approved and that looked like death spiral going forward.
So, SK is now board of director until 2020 at Cytrx and CEO. That seems to suggest SK sees long term value in Cytrx as a company. However, GALE was the same shady deal. It just seems to me shady deal is all SK does. Cheap offerings and millions of warrants, RS same crap.
I can see why some shareholders here wants to demand SK step down from CEO position. Maybe the shareholders sees true value in Aldox and LDAR and they just about had enough with how management isn't dealing in the best interest of the shareholders.
I mean, do you really have to make cheap offerings with tens of millions of warrants? Is it really that bad you can't get finance with good terms? I mean they did another offering earlier this year without any warrants, so that clearly tells me getting interesting investors is not a problem. But, SK choose toxic finance last year. As stated being in bed with some funds.
The presentations they are giving was very convincing that science was good. They could have easily offered higher and not have any warrants and still be able to raise funding. I am actually interested to see if the private organized petition and potentially legal proxy might actually remove SK. Cus, I'd be interested in investing a lot more on this company with a CEO that's truly working for the best interest of shareholders.
It'll be a shame if SK is screwing everyone purely on greed. And, he rather see this go down with him if he's not getting more out of it. There have been some mentions of conflict of interest even by internal employees is troubling. Maybe a hostile take over isn't so bad after all. Because long term the company might do well with new management.
