mcd2inga stated: "I hope Dr. Moro is able to raise the funds needed. I do wonder why Dr. Moro would try to raise enough money for two years operations and create huge dilution at this share price. Why not raise enough money to pay off Smithline and operate for a short time. If Inverness makes the milestone payment, the share price should get a boost, Smithline would be out of our hair and, I would think that Dr. Moro could then easily place shares at a higher price. Is Dr. Moro thinking that revenues from oncopet and any progress from Inverness is still more than a year away? "
That is exactly my thoughts also. I certainly do not object to Moro attempting to raise money. He certainly needs it to become current with Smithline and have some money to operate on.
What I find objectionable is his leading investors to think that revenue is right around the corner yet he now wants money for 2 years with a huge penalty of dilution. If the company does indeed have something positive that will happen, raising additional money should not be a problem. Why all the sudden did everything change?
The planning for the public offering was not something happening over night. This was planned for quite a while and all that time, $300 million was sufficient.
IMO, something may have happened somewhere around Sept 9th to Sept 18th that made Moro decide to seek more money? Any thoughts? Could that same event be the catalyst for Smithline converting and selling a huge number of shares? Lots of questions here but no answers...Yet.
