Well, seeing it closed at $0.48 on 28 Oct and was down to $0.20 by mid Nov, I don't think that was a bad call (tho calling penny stock prices is generally a loser's game and I usually avoid it).
From the supp info doc, the work-out with T&T is to extend the term of the $862K owing to 1 Jan 2020. In the meantime T&T can convert at VWAP whenever it wants to, and any amount remaining at the end of the term gets converted automatically.
That's not a terrible resolution, on the face of it - apparently no penalties etc etc - but the note is still a floorless overhang. Even tho they've reserved a certain number of shares for current purposes, the actual amount to be issued is unpredictable & will depend on the VG share price at the times when T&T chooses to convert.
Yes, they say they're working on whole bunch of different disease indications. Some might prefer them to show concrete progress with the previous targets before branching out.
Check out the record of security issuance in this latest supp info compared with the one filed late last year; why the differences and have they got it right this time? Given that author on the latest doc is the COO, Brennan DeRaad, you'd hope so.
I also note they've added this language to the MB and DMBM prom notes: "... and the right to convert the promissory note at any time." Does that override the condition that only 25% of the note is convertible per quarter, and not before Dec 2014? It's not very clear, but if so, it's certainly a material change. Eg: If they can't convert before Dec, and the Dutchess deal comes into effect in June, then MB/DMBM would be locked in & exposed to whatever dilutive effects the Dutchess deal might have before Dec. But if they are now allowed to convert whenever they want, I guess they can dump along with Dutchess (as can T&T).
News 
Market Data 
Discover 
