porkchop11, I, actually we, are all speculating what the shelf increase could be for.
And that is not a normal situation. It dilutes our VOTING power, as I explained many times not necessarily our finances, and yet we don't know why it will be used.
Furthermore the rules are changed as such that even if all active following shareholders vote explicitly NO the bill still passed because all non-voters (those that technically speaking don't care to follow) voted implicitly YES.
Last years vote has disclosed that shareholders started to not follow Managements advice any more. With the current low share price, the silence of the company and the related unsatisfaction, PPHM may see the waves come.
So before they can FORCE US, and no matter how much I may be behind SK and ES I will never accept any hanky-panky from them in voting matters, we must react. That is why my NO is conditional. It becomes a YES if proper explanation and guarantees are provided.
So if they REALLY need these shares to launch Bavituximab then we need to know, because - FYI - bavituximab IS NOT APPROVED YET! So there is nothing to launch and if they need the share to do that then they know something they didn't tell us. That means we cannot know if management is trying to issue new shares to sell them at the ATM while being themselves in the Bid (via-via).
PS: realist1 is correct when he says that we do not need the 175Mil shares as part of the poison pill mechanism. It takes care of that itself and 175Mil shares would be LARGELY INSUFFICIENT to offer us, say, 10 shares per share at 0.0001 cent per share. We'd need 2 BILLION then, which is the point by the way.
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