$heff's $tation of $tocks & $olid DD

[42Delta]

NAVB OT: IMHO the NAVB pro-forma balance sheet is train wreck...extended overhead for 2-3+ Qtrs, zero milestones, Montaur
coversions just ahead. The damage goes beyond LS, and likely impacting the pipeline development, and potentially 4694 trial funding. Mgmnt has provided little to go on...and until they do...this for me is a trader. Interesting that even TE in their latest comments is doing a 180 from a week ago on these topics. Outstanding shares will increase regradless if by warrants, P-shares, or secondary...and this IMHO factors directly into SP and market value. NAVB is a cash machine for Montaur, and one way or another the only source of real capital is us. On the plus side, this remains a really good company with an even better pipeline - this is really just the begining for them...but bumps in the road for now. After we settle down and get 9/21 options behind us...should remain a great chart trader; and a great buy at these levels for a long term hold if that's a fit. Always lots of good dialog on this board and thanks to everyone who helps make this a great resource for me. BOL all