Thursday, August 18, 2022 11:01:25 PM
That was then immediately followed by talk of how the journal was coming out very, very soon. Over three months ago it was coming out very, very soon. Still no sign of it and in fact, people have more recently been suggesting that it may not have even been submitted to a journal until after the May 10 presentation and the update of clinicaltrials.gov. Which sort of shoots down the previous narrative that they thought the journal was going to coincide with the NYAS talk when they scheduled things a couple of months earlier.
Then, in June, it was reported that David Innis stated the company's hope that the ASM would be held by mid-July. Now, rather than being held in 4-6 weeks, we are looking at a minimum of 3.5 months, assuming we get notification this week of the ASM.
Instead, the talk has turned to three months from the issuance of the Class C Preferred shares, so November. But history has suggested that betting on hints based on option/warrant expiration or stock availability is not reliable. If they are already 2 months late on the ASM, three assuming they give 30-days notice, then what is a few unauthorized shares between friends?
The simple fact is that while I have no doubt that they are doing lots of great stuff toward approval, all currently available public indicators are that they have seriously blown their opportunity to improve the share price prior to approval and it is making it far more difficult to stay afloat. Remember, the science was never going to be the weak link in the chain. We are not totally de-risked until they get the share price out of the toilet and have enough available shares to guarantee their continued survival.
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