You keeping thinking the company had options in reference to the capital raise. What did you want the company and its management to do, shut the doors! What position was CYRX in, to dictate to R&R and it's clients. I don't need to remind you of the credit environment at the time.
You either accepted the terms or you were toast. The company did what they needed to, to survive. I would have done the same thing if required. Obviously, one of those demands was trading on the NASDAQ. At the time, our stock price was trading below the minimum level, a reverse was most likely necessary to meet the NASDAQ standards. What happened the evening prior to our deal and why certain investors pulled out, your guess is as good as mine, but I've heard rumors.
The only institution I know of, that was involved with the R&R deal that made any money at this time, R&R via fees, and lawyers. The stock is trading well below the offering price, which all clients were restricted from selling, and the warrants are very much under water. LS received a bonus for this raise, refused the cash and accepted options instead @ .66. He also has warrants at the price of $8.40. If he really wanted to rip the shareholders off,
he could've received the cash and ran. Yes, LS gets paid a very large amount of money on a monthly basis for a company that has yet to show any signs of significant sales progress. As I have stated in the last few days, it would seem the commencing of sales has begun. This will be the true test in my opinion. We will see what he's made of.
I've always believed, and still do, a company that can grow, should be rewarded over the course of time via stock price appreciation. This is yet to be determined with CYRX.
As far as your Jets analogy, especially If you're basing your assumption on one season. It takes a good two or three years if not longer, to build a winning franchise.
I will admit, most fans want instant gratification, just like anyone TRADING the stock market.
I don't know anyones personal life on this board. I don't know their risk tolerance, their financial status or the percentage of their portfolio allocated to CYRX.
What I do know, each one of us knew about the additional capital needed, the POSSIBLE after effect on the price, and the 1-10 reverse well before the action took place.
All of us had ample time to sell our positions.
I can only speak for myself. I held the stock and thought the outcome would've been better.
I'm laughing out loud! 2,000 trades per month, plus all your other private equity investments, and you can make time for us lowly CYRX shareholders.
Anyway, I hope justice is served in reference to WFWL. Good luck with that situation.
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