Anavex Life Sciences Corp (AVXL)

[Gator328]

Too early to make that statement with a $250M shelf on the table.

If he ends up maxing out the authorized shares under $5, the dilution will be viewed by many as average to expensive. If he dilutes at $25, then you'll have called it correctly.

I still maintain that he's more concerned about getting the cash than he is the dilution -- he's got plenty of shares and warrants to weather the dilution just fine and I wouldn't be surprised (though admittedly I need to read his contract) if his warrants have anti-dilutive component which is typical in exec compensation packages. He knows he can get to 100M shares at whatever price he wants, and still have the preferred shares to raise more money if need be.

Missling is smart. I never disagreed there. I just think he's made a lot of missteps that have put a cap on where the current valuation could be.