Don, My sentiments exactly
You practically took the words out of my mouth. I just can't believe that HB has not learned from the past several dilutions. STOP bullshitting the shareholders, shoot from the hip. Doesn't he realize that we know the company needs money, and there is basically only two avenues...partner or dilution. Harvey, your not going to shock us by saying a dilutionj is a distinct possibility.
That being said, I agree with the strategy and would rather a 10 to 15% dilution vs giving up 50% or more of the European market and even maybe the Asian market, though I still believe he will partner in Asia as I truly believe that an Asian Pharma can do a much better job of selling Pona in Asia, than Harvey.
I also would like to remind my fellow investors that much of the discussion about dilution , being said now and in the past week or so, is the same as we heard prior to and when the last two dilutions were announced. Keep in mind though, that after each of the past several dilutions, the PPS rose substantially.
I now know why the investor conference was set up and conducted so quickly, within hours of announcing Pona results. I think Harvey thought that with the CML heavyweight that he hired, he would be able to push the PPS up for the dilution. I guess Harvey didn't realize how well the sell on the news theory actually works, and how much selling there would be from people that knew of the financing. Welcome to wall street Harvey, it is quite different than Cambridge.
As usual, JMHO
Barry
AI
