Another reason that would point toward a sale is that given how low our stock price has fallen, doing a dilution in this range would be highly damaging to shareholder value, so I would imagine there is interest from our large investors in conversations with the company and Board to sell the company at this juncture. In other words, the cost of another dilution at the current level to sustain the business for further development out-weights (negatively) the potential benefit of holding out more in hopes of a greater deal or buyout down the road. If we were in the teens (such as the last dilution at $13.50) one could possibly argue one more dilution is worth getting us to an EU approval, but not at the current level, which would result in the stock likely being driven down to cash value/all shareholder value completely wiped out.
We've been down the "dilute, spend then dilute again" road over the last four years and it's led us to where we are now (investors who recapped the company losing a two thirds of their investment over four years). Time to sell the company. My bet is Lombardo will be able to command at least $15. Time will tell.
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