Monday, January 05, 2009 11:03:02 AM
I can think of 550 million reasons not to grant Biophan's management their fervent wish to have the capacity to dilute by over 200%, and not a single valid reason to allow them to do so.
I think a "Bringdown" is to be persuaded to buy shares in Biophan and then to find they fall in value. If you had listened to BIPH's supporters back when they were at their peak, you'd be down well over 99%, and even within the past 52 weeks you'd have lost 90% from their high of 12 cents.
Now THAT'S what I call a "Bringdown".
But I have already said that I don't regard mindless optimism unfounded on any factual knowledge, or by any realistic forecast of future events, as a reasonable basis for investment or for encouraging others to buy, so my view should not come as a surprise.
It does surprise me that I should be castigated for urging caution, when those who advocate buying this most speculative of stocks for no good reason that I can determine, or that they can articulate in any sensible fashion, seem to be given infinite latitude to hype and exaggerate.
Seems a little asymmetric to me. But there you go.
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