PolyMedix, Inc.(fka PYMXQ)

[damnthetorpedoes]

A R/S and financing sounds crazy at this point since by my calculations they would have to lose almost 50% ownership of the company to raise $17 mil, or 30% of the company to raise $10 mil.

No, unfortunately it has become increasingly apparent to me that Nic and the BOD will do a 1:6 RS first, possibly when the PPS hits at least $.40 so they can claim it is to obtain NASDAQ listing. Then if the announcement or the act triggers a PPS decline, they can clam up again; if anything just saying they were "surprised at the decline". Any subsequent PPS decline that disallows listing would be after the fact, which means the RS would go through anyway.

Soon after, they will announce a public equity financing, to the tune of maybe 10-15M shares at ~$2 plus warrants, perhaps simultaneous with the announced start of P2B, hoping to maintain PPS. That would theoretically net them at least $20M, which will tide them over until at least 2014. By that time, they will (hopefully, where they are concerned) have some sort of deal done and/or agreement to fast track 30063 that can finance PIII.

Honestly, I don't think NIC or the BOD care one iota about current shareholders. That has been demonstrated time and time again. It is especially apparent when you take into account that pretty much everyone at Poly owns absolutely "0" shares of stock and, therefore, have little to lose if the company is unsuccessful.