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Sunday, April 22, 2018 9:06:07 PM
100% correct! I have also UNEMOTIONALLY voted YES,
As I had posted earlier, some think they can be slightly pregnant and try to influence others that there is no disaster in voting NO, who are they kidding?
If a NO vote carries the day, just THINK for a moment, what would the holders of the warrants of the "yet to be issued" shares do? Wait for another SSM to get it right? They'd immediately file a lawsuit, is that how you NO voters want "send" a message to management? Tie up management's time with fending off another unnecessary law suit when they should be spending 100% of their time in bringing the trial to a successful close?
Why don't you just vote with your feet and exit the investment (and show management) because if you think a NO vote will have no effect whatsoever except to "send a clear signal" to management, you must be pretty naive because the price will just go into a death spiral. Investors know that the company will be going into a long drawn litigation process to unravel the mess.
Think one step ahead, should the trial be successful, would you then realistically vote Yes to the issue of shares at an exercise price of $0.23 when it is worth $X? What if the case was before the courts when results are announced, they would then have to determine the value of the company and arbitrate an acceptable conversion ratio? Class action suit by shareholders if the ratio is unacceptable?
Imagine the legal complication and the mess generated even with a successful Phase 3 trial, warrant holders want to exercise in the "pennies" when the true value is nowhere near the agreed exercise price! Then the arguments would emerge as to why in the first place have toxic financing and the ad nauseum reiterative arguments over the last few years would emerge.....again!
Use your vote wisely!
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