Well Ronin is going to use an unbiased third party to determine the value of the IP and deal the science and the current BOD is going to use their already existing masterful approach to deal the science. The same approach that has led to so many positive developments for this science. The same approach that has led to their latest 2 business development experts to exit the company. I think I will go with Ronin’s approach. I am supporting Worsley in his exit strategy. He wanted nothing to do with the obvious takers.
So your dream team proxy to do a big pharma partnership is now Lias, Bamforth and King
Good luck with those wasted votes.
By the way, Ronin is a proprietary trading firm which means they invest only THEIR MONEY and is separate from a hedge fund who take outside investor money and take fees. The shares were also moved to Capital which is for the long term investment account.
Tustin has no chance with these nominees going to institutional holders for votes who have been burned by the current board.
I sent Mr. Worsley a private email when he was still with the company asking him what the biggest obstacles to making a money deal were. He had a history of making successful money deals and he just couldn’t get it done with PPHM. I asked him directly if the BOD was blocking any progress in their desire to get up front guarantees. Of course I never received a response and it was not long after that I heard of his exit from the company. My guess is he is an honest man that just couldn’t live with the obvious game this current BOD was playing. If that is the case I applaud him for his decency. There are still some honest people left out there. Good luck Stephen Worsley.
It looks like the market does not trust this BOD to execute Ronin's plan. We get a very positive reaction each time Ronin talks about their plan...not so much when the BOD tries to steal their ideas.
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