Protagenic Therapeutics Inc. (PTIX)

[RoagTrader]

Good post. One thing that keeps me optimistic is that BD agreed that the notes could be converted into common shares. If they thought (at that time) Atrinsic was going to go BK and wipe out common shareholders I doubt they would secure the notes like that.

On the other hand, the fact that they were allowed to short the shares into the market might be construed as a lack of confidence on their part. Or they may have just needed some cash themselves and sold stock. We don't know how much they sold.

Another thing that keeps bugging me is why deregister the remaining shares if you need cash and proceeds from those shares could have raised over a million dollars? Unless of course they had a deal in place already and the buyer is assuming their liabilities.

Based upon all of this, and the fact the company appears to be moving forward, I don't see where BK would make sense. Of course, not much of anything makes sense with this company right now!