Wishy-washy camp for me too. But for different reason. The part I don't like is the "fully funded by BHRT" type of statements. Now STAY COOL guy's, it's not a "bash", just a legit question. When your last 10-Q showed about $6K on the books left, the logical question to me is, "fully funded HOW?"
A more "common" industry/CEO type response I prefer to see is along the lines of, "We expect the XYZ trial to happen in 3 stages. Stage 1 enrollment is expected to be complete approx XY/2014 and we estimate the cost to be approx. $12K per patient and will enroll 120 patients. Or, this type of trial is being structured where participants will pay a partial fee to be in the study and BHRT will pay the remainder. Stage 2 will be the trial itself and will be conducted at sites, X, Y, Z and A, B, C and we estimate we need to fund each of those site at a cost of $X dollars per patient for the duration of the trial, expected to last 6 months approx and have a total cost of Y dollars. Final stage, stage 3 will be our final data report and compilation and will be done with in-house resources and also via contracting to firm ABC and we estimate this to cost X dollars and terminate approx. 6 months from last patient enrolled. The funding from this will be done via our XYZ stand-by equity line and also via equity sales of shares estimated to be approx X shares over 9 months, which yes, we expect to be partially dilutive, but we believe this is a key step in the company's progress and needs to take place, blah, blah, blah. Our estimate at this time of total cost of the Super-Duper trial is $1.3 million dollars and will be spread out over a 9 month period."
See the difference? See how that would make investors and the professional community so much more confident that they totally know where you're going, how you think you're going to get there, etc? "Fully funded" to me, is a pretty much nothing statement. All it leaves for us, is to wait for something like a 10-Q or 10-K to come out and then hope to find how many more shares were diluted or if we can find more borrowing or where money might of come from and so forth.
Not a big, confidence building statement in my opinion- and that's all it is, my opinion. I've seen big companies, lay out big announcements- and they get a CEO right out there with a Powerpoint presentation and all- to the investment community and show the timeline, expected cost/investment, whether it will be dilutive to shares or earnings per share (obviously not applicable to BHRT at this point), are they going to borrow bond debt, etc.
The more vague you are, the more I think it leaves you open to volatility and people maybe throwing in the towel, people thinking it's stalled out, etc. More info is better than less. Vague= lack of confidence in my book. "Wishy washy" is a good wording to me.
