Some investors already talked to Les this weekend. He claims he knows nothing about it. Transfer to the pinks appears to be a fact. If Les did not know about it, he is either out of the loop which is highly doubtful, or he is lying which is more probable and if he is this is a really dumb move for a lawyer, or there has been some mistake which again is highly improbable. Again, it is highly improbable that going to the pinkies is somehow part of an elaborate plan to catch the shorts. That's right, when things go bad its never management, it is the bad bad shorts or other conspiracy theories woven by that master story teller Les. Recently, he has apologised to a number of investors for making optimistic guidelines for certain company actions like, for example, the string of PRs, etc. In making such "apologies" these are tantamount to admissions against interest. For a lawyer, this is a dum dum. You begin to wonder about management's overall business judgements and whether they are hiding something. It is all about perceptions and they are clearly wasting money on the PR firm who must be advising them. So far, not impressive.
Moving to the pinks because it is a cheaper exchange is nonsense. The difference in expense is de minimis. There has to be another reason. Non-compliance? Doubt it. They are current in filings. What then????!!!
Moving off the BB is material information. LP/LG need to come clean. If they remain silent, the pps will get slaughtered as this move, whether initiated by NWBO or the BB exchange, is inexplicable. Continued silence now is deadly. If there is continued silence, I think large investors will no longer be supportive despite LP control. Could be some consideration of shareholder lawsuits being filed if this isn't explained quickly. Just like other things. Recent loan, then, on its heels, a small but toxic equity financing. Huh???
The publication strategy fell apart. One of its goals was to raise the pps for better financing. No follow up or timeline for 2018 spring refresh. NOTHING said at ASCO about it. What happened to the string of PRs? What happened to the business matters? Are the toxic financings, loan, demotion to pinkies the string of announcements LP alluded to? What happened to the big lawsuit that Les told a number of investors including me was going to be announced? First it was going to be announced before ASCO. Then the excuse that management was advised that after ASCO would be better. Nothing, nada and we are all surprised over the weekend that we are now on the pinkies. Weeks have now gone to a month. And.....our stalwart Senior VP, a lawyer himself, claims he doesn't know anything about it???????????????
There are a number of apologists here for management. Even for these diehard apologists, the bloom should now be off the rose. Thus far, though I have roundly criticised management primarily for their communications or better, lack thereof, but given them the benefit of the doubt, I am beginning to sense that something smells rotten. If management does not come clean Monday morning or very shortly thereafter, a coalition of large(and smaller) investors should demand answers, perhaps under threat of a shareholders' lawsuit.
This whole sorry saga is a disgrace. Management either has something to hide or is just plain incompetent. Les knows nothing---c'mon give us a f**k**g break. JMHO.
