They had a working surplus of $31 million at Dec 30th 2017. And they reported they sold CHA holdings on January 9th 2018. So approximately $41 million in the bank. Before the CHA sale, enough cash to take them to fiscal year end 19.
So why sell these shares now? Do they not think something this year will increase our share price well above that sale mark? If a deal with NIH or DOD, or anyone was imminent in the least, why sell now? We have IC results due out in April. Why sell now? Interim results in HCT. Why sell now? So many things that are supposed to make 2018, the year of the shareholder. But why sell these shares to raise another million. Is that necessary with all the potential? Or the tons of expected milestones we will hear about in the next 12 months. LMBO. Oh we needed that extra million right now. That one million will take them to the finish line? Or did they think it would be better to fund the world tour this way. Or worse, do they know something we don't that is not on the positive side?
The only way I take this ATM sale is an extreme lack of confidence that this company thinks our price will be any higher in the near to mid term. Are these talks progressing like they state in the "presentations", or just fluff. Or some real reasons for all the missed milestones that we don't want to hear about?
To further the distaste of the ATM, a company can just get ready to sell when any news will be released. Sell on news is the old saying right. At least if you're an insider, you have to report it within 2 days (I believe). A company can wait over 3 months in essence, and not have to report a sale date. And we all know even an insider can legally sell on news like Zami did at 5 bucks on news. Either way it stinks no matter how you look at it. Again, how it's legal is beyond me. Amd that goes for Zami's big win at $5. How many has he bought back since? Jokes.
Yes, you don't get the discount that happens with a raise. But you have zero idea of whether they are selling none, or a boatload at any given time. What might our share price be of it weren't for the sells, especially in the times in question.
They had two dilutions last year alone, and the ATM. Why did they not fill the entire auction then instead? Original price on that one was $1.61. Was raised to $1.67. Why not get your money there instead?
Pathetic in any and all ways I see it. Please try again.
But I'm "ok" with management. These clowns are trying to figure it out as they go and it truly shows.
