@Potse... I think your sentiments are reasonable and understandable in general -- generally speaking, it is irresponsible for a publicly traded company to do what they did. But I think they just had limited cash, even having raised some. COVID hit them hard in 2020, as it shut down their two cash-positive businesses (DVCStem and Infinivive). They're on a five year commercialization plan that started in 2018, with key contracts (e.g., Evans, et al) expiring in 2023. The clock is ticking, and my sense is they needed to spend money strategically to get some traction in key areas. E.g., I get the sense that they have essentially bought their way into the FDA with a key hire, who I'm sure didn't come cheap. And I'm guessing the Fitore and Infinivive transactions were planned for a while, and are essential to building corporate brands that will in turn create value (which will mean a lot more in future M&A scenarios than uncontrolled vendor relationships). And in the end, I think they figured that tending to those and other key business issues at a fraught and delicate time was more important than keeping a penny stock ticker afloat for day traders. And if I'm right (big if), I think what they did becomes more understandable. But as I've said many times recently, it is well past time for them to state exactly what the plan is for legacy shares held in brokerage accounts, and how those shares will fit into the refiled equity structure. Their failure to do this clearly and specifically is pissing a lot of people off at this point, and they need to fix that situation now, not later.
AI
