Yes, I was aware of this and have no problem. I would rather have a smaller part of a viable breakthrough product than a large part of nothing. The assumptions in AF's writing is that the Company will issue every authorized share, current shareholders would not have a rights offering, the stock will be issued for below book value, and that the Company will be failing. GNBT management doesn't want to go back to the well anytime soon. The latest capital infusion deal was already announced. Do you think a potential 16% partner will watch as their investment gets diluted beyond recognition? I doubt it and doubt they will issue all the shares. However, if anything unforeseen occurs such as another trial mandated by the FDA, or if the Company manufactures Oral-lyn without a partner, a large amount of money will be needed. This would be for rolling out or proving the product.
I have NO respect for AF as he frequently writes incendiary articles devoid of the truth. This hurts companies trying to bring out breakthrough products to help people. He or his loved ones may need these very medicines and devices at some point.