Sure, If they do get approval the stock will act very differently from the company which often is the case in ALL biotechs. Including Alkermes, Biogen and the like. The stock especially being a penny stock will have eyes once it hits naturally. As with other pennies it will run a day or two tops before the shorts will overrun it and cut the run in half. There are more precedents that prove this model true than not. The price target? Anyone's guess, My guess is around a nickel tops. Thing to keep in mind with pennies is the jump from 0099 to a penny is a mindset for most and quite a few will dump at 0095-0099 thinking they are beating the crowd to a 01 to get filled. (when PP#H ran the OS was much lower than ours is currently) but with the SS and the enormous amount of OS will not be touched by funds / hedges until a RS or big board (which with this SS will call for a RS.) Remember that Jim himself stated they want to uplist. With this SS (like me or hate me you have to agree this SS cannot make it to big boards.) I honestly feel if they get approval a large investor will want a management change seeing their history and inexperience with being CEO and CFO of any real large companies and as well as a company that hasnt made money in decade whilst taking bonuses. Make no mistake no real investor will place tens of millions of dollars into this company with Jim at the helm. They will want to bring in their own people. The caveat for Jim is his shares in the company will be preferred and bought out directly. He will make a gracious exit if they get approval and stay on the board to collect a few hundred grand a year as well. The company will either: get funded and then need to sign a manufacturer as well as a distributor. Or it may get bought out with the understanding of the following:
The preferred holders (not you guys) will get fair market full price purchase on an agreed price. They will pay the debt (almost 20 million per the companies SEC filings) They would normally pay between 2.5 -5 times free cash but the company doesn't have any or liquid able assets of real worth (buildings, patents since they Battelle owns them) and probably make a share price offer of a penny for the remaining shareholders. The board will of course accept because they go their price met for their preferreds.
You have to remember this. If they do get acquired the company that acquires them will not only not overpay, they will try to lowball. The company making the offer will have to explain to their board and their shareholders why they paid the price they did. SO to recap an actual buyout will probably look like this: Board of directors and management will get an agreed price for their preferreds. They will wipe out all debts from leins and lawsuits. Pay all owed back taxes if any. Restructure Battelles agreement and royalties and pay you guys a maximum of a penny after all that. Remember the acquiring company will still need to implement manufacturing at an additional 10 million. So before they get to any shareholders, between the debt, infrastructure needed to produce, and pay stakeholders (not shareholders) they will onvest around 60 million plus....thats keeping in mind not even paying the penny for you guys. That would be acceptable to a companies board to assume a product (polymer system) that is not on the market (not the Y90, the polymer delivery) and compete against what is already on the market. Keep in mind a 1 billion market in the US medical field is not a large market. Especially while I$R and others will not just die overnight and still continue to be used.
Like this projection or not it is a "reasonable" one and not just on hopes or emotions.
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