More dilution is unavoidable but I was hoping to see major financing put off until the trial reveal possibly leads to shares above $1, possibly well above that. The dilutions to Cognate and to employee options is bad enough, maybe around 45%, the kind of partnership you're talking about would further dilute immediately maybe 50%. Even a BP marketing and development contract would likely cost us a lot on the revenue end compared to what could be if NWBO goes it alone until higher value is established.
We don't know what they will do, and as long as the trial works I'm not going to be crying, but no, I don't want to sell another 1/2 of the company at the current valuation. I wouldn't turn into an all-day everyday basher over that, but I would not be at all pleased unless that's totally insurance against the trial actually failing - which Les has certainly not been hinting at to anybody as far as I know. But again you never know, no company is going to let out info on a huge deal before it's done.
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