"You state management is incompetent but you do not give any specifics...eg. what did they they do?? Ans you don't know. Dew thinks he does. He thinks they should have secured financing before waiting so long.... I do not agree, but at least I appreciate a specification."
I have been away from this message board for quite some time, so I may have lost part of discussions which have taken place.
In brief, what I have heard from management since 2003 is continuous promises of nearly finished negotiations with partners in the US. My conclusion is that these potential partners are playing a game with GTCB. Obviously, I do not know what is going on behind the negotiation table, but after several clumsy PIPES (with SEC proven hedgefund fraud in 2003) and never finished negotiations with partners, I get a feeling this is never going to work.
So what I would have expected is that management would have completed the negotiations in Europe, that they could finalize (LEO and LFB), with terms that would have given them financial breathing space, i.e. much better upfront payments and early royalties.
However, it seems that they were so happy to finalize an agreement, that they instantaneously forgot about the future.
Result: they are bleeding to death (or better we shareholders are bleeding to death)
AI
