Hey VB inner circle, if you're reading this...
It's time for an update. We're three months into the IPO process, and we have no idea what kind of reverse split we're looking at. That's the ballgame right now, and your extraordinarily patient legacy investors -- who to this point have gone out of their way to keep the lawyers off your back -- need to know what you have in mind. Some of the drips of news seem to suggest that everything is moving toward a new and better future. But does that future protect the investments of people whose money has been tied up for 10-20 years? Those people need to know.
The original IPO documentation seems to suggest that you expected at least the possibility of funding before the end of CY22, since the projected start of one or more clinical trials stated end of the year as a possibility (and would presumably require the IPO funding to be in place). Is that still on the table? If not, what's our time frame? And, again, at some point you need to tell the shareholders what the split ratio is going to be. We've been patient -- and, to VB's credit, it is apparently making significant progress toward shedding the dead weight from the past few years. But in the end, this means nothing to us until we have some assurance of what we actually own. We have the right to know. An update would go a long way toward keeping that unsettled feeling from metastasizing.
Thank you.
