Any thoughts on the annual meeting would be appreciated; including posts from the other boards.
I listened online and thought the overall presentation portion after the formal meeting was good, both Ed and Dom are certainly unique and highly competent investor/officers of the company. Dominic stated the number #1 priority of the company remains the pancreatic/uveal focus though all other clinical applications from other areas were a close number #2; said the company was able to work on multiple fronts without losing sight of overall goal. Wanted the company to clearly become the "expert" resource of all PV10 matters/requests/inquiries. Said progress delay in prior years actually proved to be well spent time as mechanics and capabilities of the molecule are now so much better understood. He was hesitant to give future dates on when initial patients will be dosed in the upcoming trial as he did not want to set false expectations. Made several statements or comments on the need for speed but must be tempered since making uniformed decisions would likely lead to poor outcomes from rushing ahead; something the company can ill afford. Sounds to me they are hearing the shareholders request for progress loud and clear, and have Dominic's support and understanding, but hurdles and unforeseen obstacles are nonetheless in place that make forecasting end dates irresponsible.
Both Dominic and Ed were disappointed about the lack of funding options/pharmaceutical interest available to them at this time, would consider international funding if the right option presented itself. A remark from the audience afterwards even questioned how serious Big Pharma investment would even be for backing a disease "cure" as they were so dependent on selling their maintenance cocktails. Ed believes differently and stated there are good people at these companies and that hopefully the new focus on communications will have a positive impact. Both mentioned a responsibility to the long supporting shareholders so dilution from second tier financing resources fortunately does not seem to a concern. As many of long time shareholders have heard in the past, funding continues to be an ongoing issue. The reverse split is available if needed or would be helpful for the long term growth of the company. They want it as an option on hand but do not have specific plans when/if to use it; NASDAQ listing could eventually be a reason but they are a ways off from accomplishing that.
The Eye company comments were interesting, even though it seems like we are a ways away from having a company established. Awaiting on outcome results from India even though the rose bengal being used is not pharmaceutical grade from PVCT. Then the cost of starting the company will need to be determined. Getting FDA approval for the new company will actually benefit PVCT as the FDA also focuses on clinical grade and the manufacturing environment for approval, and we have the patents in place for our benefit. Additional comments were made on wound healing, canine cancer, anti-infection properties and other such opportunities; all in various stages of initial development.
Dominic listed a multitude of successful achievements in the prior year but it went by to quickly, I will have to view them once posted.
Though I thought the meeting was well received, I can see how some long term shareholders would get frustrated as this was all a bit generic and no time frames were committed to. At the same time, Ed and Dom said they could not be more optimistic, sounds like the industry is starting to take some notice as well. There is no doubt of Ed & Dom's commitment to this company. I will be holding and adding on larger dips in the upcoming year, I think the potential of the molecule warrants that. Hopefully a revenue stream can be forecast at next year's meeting, the company desperately needs an ongoing cash inflow. I remain optimistic but will be back in 'wait and see' mode.
