I cannot see his post but if anyone thinks this will get acquired. They don't understand how their licensing deal works or their debt repayment structure.
Simplified it works like this, the stakeholders not shareholders get their full value first, as well as board memebers get a few years forward of financial obligations (the amount is usually agreed upon by the board of course and shareholders) as well as debt which they now have again, as well as future contractual debt, also any promised compensation or future back end revenue licensing / royalties is paid first as well. The fees for the attorneys for a buyout are steep and are also covered. Then if there is any left over it goes to the shareholders. Considering they have zero assets of their own...and Battelle's agreement with them has a clause (which is available to obtain and read) that either party can get out of the licensing agreement. No one will write that check without going to Battelle directly...think about it that is just smart financial sense. All a fund or bio has to do is prove ADMD has mishandled funds (which in LSDF's letter they specifically requested that ADMD be monitored due to their past) as well as prove they are at a financial impasse of hardship. Which is actually easier to prove than disprove after this many years (as well as diluting the one organization that actually holds the patent.....Jim should know by now not to screw over his partners)
No one will overpay for this now. If the 2nd longest bull run in history and one of the greatest biotech runs in history and not one fund was interested, not after 3 micro cap beg fests that they spent over 15K to speak at and not even one toxic fund would step in..no one will, The truth is someone may have already and you wouldn't know about it unless it was big enough for a huge payout for Carlton and Jim. I doubt it though, like I said hedgies WERE overpaying for things 12-18 months ago. They aren't anymore.
Radiogel I believe is a great concept, I understand that separate they each are already approved. I think the idea is brilliant. That unfortunately isn't enough to make any money. The company has a great opportunity ahead and I know some want to believe they will THIS TIME, but in all honesty when a company has consistently failed time and again, a smarter investor would say...prove to me this time is different then I will give you my money. Not here is my money I believe in you, this is a business and NOTHING else. You can play the earning right now and use options to make way more money than you will here on hopes and failed CEOs
GLTA .....including the longs
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