Wednesday, March 21, 2018 6:39:58 PM
OK,I agree, He never struck me as someone who would not do anything without sharpening the pencil. However, I am not so sure the giving away the farm for 5 million, was nothing more than needing money to keep the doors open number 1. number 2 it buys time in order to try and effectuate deals but also 3. He must know current shareholder sentiment. what better way to ensure there is no shakeup at the next annual meeting but to have someones vote in your pocket? I am sure these new Institutional investors do not have the same opinion as some older shareholders.
As for having Multiple suitors for Regabatin and rebuffing one in order to keep the others in Play, I would have agreed with that until the recent filing. the tone clearly went from "we intend to start trails by year end of 2018" to now "we will only commence trials if and when money becomes available"
to me, that just sounds more like they had someone or ones, but now the future is not as clear.
As for China, I really can not get into that for obvious reasons. However, I can comment on your thought. I think you missed one factor in there. In order to do as you state The china firm would need to be FDA approved in order to sell those drugs here. would it make more sense that they would manufacture the drugs for the Chinese market? If so, No FDA approval of the site would be needed and I think its way around the MNK issue as I do not think those are world wide exclusive. Focalin I believe to PAR was only for US distribution and I think MNK was the same way.
So, I do agree we do not know the entire story. But other than the need for the immediate cash and knowing you would have a powerful ally for any upcoming vote, I am still shaking my head at the awful dilution at this level.
even if it had something to do with gaining compliance, why not have done this back in October when the share price was $1.10 and he could have raised the additional 5 million then and not dilute to this extent?
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