Bid, I've followed the facts and I don't understand BOD support here
What amazes me further is that the current BOD itself obviously doesn't believe in the company.
Ronin has made many, many recommendations and criticisms, and the BOD has implemented a few of them, vindicating Ronin!
A FEW EXAMPLES OF "ACTION-REACTION"
RONIN: Monetize the IP and grow the heck out of Avid. It's way under-valued, under-developed and could be a goldmine.
PPHM: Gee, we ought to focus on Avid and maybe sell it.
RONIN: Your BOD is insular, too few in number, incompetent, and overpaid.
PPHM: We need to expand our BOD and hire a great leader for Avid (who we control). Oh, and we kind of have a plan to pay people (a little) less.
RONIN: You're grossly mismanaged, you're laying off dozens of good people, you're never had a profit, and external accounting is worried about you as a "going concern x 10."
PPHM: Our PS platform potential is "astronomical." We've thrown hundreds of millions of dollars at it yet have nothing to show for it. We've neglected Avid as a result. We do have a nice collaboration with NCCN, but won't see top-line results for another 3 years. However, everyone should vote for us at the next ASM, you know, the one we keep post-poning.
Need I go on?
I still think the PS platform has potential, while Avid has tremendous potential. Under the current management, however, we will never see PS-platform valuation, even with the Holy Grail combination of CAR-T.
Sorry, but too much greed here. Everybody wanted millions, but you're gonna get 300-500K at most, IF Ronin gets in.
Use the money to buy yourself a modest, nice house, and move on with your life.
Best,
Joe Six Pack
