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arvitar

09/29/16 5:35 PM

#125251 RE: KMBJN #125249

In 2012:

- Seymour was touting all the drugs he was soon to get into the clinic, and all the partners on the horizon.

- The company had can accumulated deficit of a fraction of where it is today.

- The company was four years younger,

- The company was "successfully raising funds".


In 2016:

- Seymour has a few lame schedules that are all expired.

- The company hasn't even identified a candidate to take into the clinic. The company is still years away from getting to where they said they'd be years ago.

- The company is moving into it's twelfth year of failing to get a single candidate IND-approved.

- In contrast to 2012, the company is NOT successfully raising funds at present, and has no prospective partners to tout.


The company will have a much harder time finding funding today than it did in 2012. If it can find funding, it will come at a much higher cost, and be highly dilutive. It will likely involve selling shares at a sufficient discount to the current market price to guarantee buyers a quick and healthy profit when they dump, and they will dump.

Those are the facts.