Beartrap, what if LP sat down with Merck 5 years ago and agreed that Merck would buy a specific percentage of NWBO, but there were terms. LP's terms were that she would take no less than a $20 billion market cap for the share price Merck was to pay, and Merck's terms was that they'd pay it when the current share price reached say at least a $10 billion market cap.
Such an agreement wouldn't be formally announced, or binding, but that's the sort of agreement I believe could have been made back then. LP was unwilling to give away a substantial percentage of the company at a bargain basement price, and Merck was unwilling to pay a major multiple of the current price to get an equity partnership. This sort of deal may very well still be in place, but LP must execute on her side, and get the share price up, then Merck will act on theirs.
Gary
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