Geo, LOL, just as I am figuring some sense about which way is up, you throw in a left curve... "don't trust both sides".
Hmmm.
So if we turn the clock back to February/March and try to consider who talked to who between PPHM, Ronin, Steve White, one can observe the following "stage setting props":
- Report that PPHM tech is benefiting treatment in subsets of patients from the halted PPHM trial.
- Ronin/White touring Avid facilities, telling PPHM to change their business plan to emphasize Avid
- Ronin started acquiring millions of shares to establish ownership position
- PPHM placing even more millions of shares to raise operating funds
- PPHM saying they are seeking to avoid doing a reverse split as long as they can to avoid NASDAQ delisting
- Halozyme sales slowed down, significantly slowing Avid sales and shifting PPHM away from "self funding" goal.
- Halozyme raising operational funding, reported as successful
- Halozyme customers cross over to include potential PPHM collaborating Pharma
- Investor suit before Delaware Court citing Board overcompensation, abuse of authority. Laster decision trims back compensation in July
- Proxy fight gets underway to replace PPHM Directors with Ronin proposed candidates
- Complaints filed with SEC and CA AG office, citing overcompensation of PPHM Directors
- PPHM technology postured as "worthless" by some as others question halting PPHM tech development
- a 4+ million share short interest gets reported by NASDAQ in February that gets reported as covered four to six weeks later.
- pps and trading volume reported on NASDAQ shows major shifts at timing aligned with the short interest changes
All this and more. Through it all, I still look from the perspective of a "Long 2 investor" wondering what a "Long 1 investor" hedge/investment fund is going to do different to PPHM's business plan if they succeed in replacing the PPHM Board.
Best wishes and IMO.
KT
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