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Tuesday, 10/15/2024 3:28:26 PM

Tuesday, October 15, 2024 3:28:26 PM

Post# of 2906
Well, it seems obvious that the latest IPO attempt has failed too, as it is well over a month old now and there is no sign of life. They will need to make a choice soon, or there will almost certainly be a lawsuit from disgruntled shareholders. One option for them is to go private -- which is probably the most appropriate option given the lopsided equity structure, and the apparently competing internal interests. But I imagine that would require $5-$10 million dollars, to reacquire the public shares. I for one am not selling my shares back to them at a loss. Another option, per recent messages, is to get acquired. Given their unique manufacturing platform, I'm not sure why that hasn't happened already, but who knows. The last option is to just relist the shares on an "elevated" OTC exchange, so that the shares can be traded. Which is what Dr. Musick said they would do four years ago, before he stepped down as CEO. I suspect this is the most likely path at this point because it is by far the easiest (there's nothing stopping them at this point -- they've done all the hard work), and it will head off any shareholder lawsuits. What it doesn't do is provide capital to do the clinical trials. Which is a problem. But that's not an "IPO or bust" situation -- there's no law against raising money without an IPO. The risk is that the share price plummets in the OTC world, and they end up having to dilute everyone into oblivion to raise funds. But my guess is that is inevitable either way, as nobody will want to touch this company as long as a few insiders own 90% of it.
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