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Tuesday, September 05, 2017 12:21:12 PM
The issue is they may not find a partner with favorable terms. So RS is preferred. RS voting down will force that partnership deal.
A bad deal is bad for company and management because the asset is likely licensed cheap and management gets little in return, but that's great for any current shareholders.
A partner can put down a 10-20 million cash as up front payment and buys all rights to Chemosat license and patents. That will provide company funding to keep operating. Then milestone payment and royalty payments on successful commercialization in US as well as reaching sales target in EU an other countries with approval. That generates long term revenue.
Only then will an RS be possible and will get shareholders votes. It's the best outcome for both management and shareholders. Because, management keeps their job and continue to operate, shareholders realize short term return and are happy. RS goes through after, and all problems solved including NASDAQ listing issue.
If management can't accomplish this partnership deal, then they deserve to be out of jobs and the company sold cheap to the highest bidder. There is no point having them continuing further based on the past performance of two 1 for 16 RS and bad financing that killed the share price all the way down to 0.02. That's beyond failure. So, they fix this for shareholders or they are out of jobs.
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