Tuesday, July 31, 2018 3:21:49 PM
I agree that another offer is in the works. either right before or after the RS. I agree an RS is in our future. But after that I have to disagree.
1. they already are set up to meet compliance. the recent reclassification of the previous warrants into shares now gives share holder equity. as well as any offering they do. a RS will get the price up above a dollar. at which point we will meet NASDAQ requirements.
2. moving forward, Yes I agree Odidi would probably just continue and burn away the cash raised. HOWEVER, with this next offering there will be substantial institutional holding of close to 45% if Boys gets get. close to 35% if USB gets it. lower is they split among among themselves. controlling that much of the a company gets you a voice. easily they can hold their vote to effect changes. in other words they can say, yu need to do this or that if you expect to get our vote for the next shareholder meeting. OR they could call for an immediate no confidence vote to remove.
By October the results will be for the studies for Rexista. They can force Odidi to partner it. They could force Odidi to license out Podras assuming those tests have been completed. they could force him to sell off the entire generic pipeline for say 20 million just to raise cash to get thru next year. They can force the deal on Regabatin.
Point is with a controlling interest they can force change at which point we still have the pipeline. I do not see the rest of pipeline as being dead. I bought into this not because of Odidi being CEO but because I believed in the technology which is still there.
If we failed and are where we are because of poor leadership that changes with the next with offering. will that take some time? Yes. but it will change. at which point people need to think, do I sell now and take a huge loss as you say you will do, OR wait it out and recover?
If the new sheriff can just effect a Rexista deal we pop to $1 EVEN with the next offering. assuming he sells off another 10 million shares hat places us at 60 million outstanding. why would the company not be worth 60 million market cap with a Rexista deal? assuming we do the RS and end up with 6 million shares that would still be $10 a share post RS.
so while some say Boyd could come in and offer 60 cent a share to take the company private I see that as being under valued. given Regabatin as well as Podras Plus a generic pipeline that could be sold outright for 15 to 20 million. I do not see anything less than $2 for a private offering. from where we sit at 35 cent. That is worth holding and recovering in my mind.
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