Nuthin but stated: "GS you indicated that "Smithline is not dumb"...perhaps there is more to the whole story than any of us know as he contributed $2 million to this company with more knowledge of what is taking place than any of us."
Actually Smithline loaned 3 million to Moro probably based on being told Abbott would publish an abstract at the 2007 ISOBM. When I discovered the abstract and I was indeed the first to post that abstract on the board showing two of the authors to be employees of Abbott, I also invested in the company. I did not consider it dumb at the time because as I mentioned before, Abbott had never presented an abstract at a scientific meeting that they did not take to commercialization.
Well, I got had and Smithline got had. Abbott did not proceed. I sold at a loss and Smithline got left holding a possible bad loan for almost 2 million. All of the investors remaining in the stock are in a worse position than either myself or Smithline. I got out with about 3/4 of my money. Smithline made profits on interest, fees and trading so I would say his net loss is about 750K to a million right now. For any investor that got in after the initial Abbott license, they are at a heavy loss. Anyone that got in after August of last year when the Abbott amendment was actually published was indeed a fool for believing what Moro was saying and deserved to lose their money.
