Yes, I met him twice. At the Biotech Showcase in 2015 and the shareholders meeting. With hindsight, his biggest mistake was not raising funds aggressively when the share price was up. His financing on an as needed basis has come back to hurt the company and forced him to do some recent financing that I don't particularly like.
Money problems have contributed to a change in focus and delays. The company needs a deal now, but, I don't see him turning that signed term sheet into a signed agreement until after a successful FDA meeting for Brilacidin OM.
There are clearly missteps along the way. But, I don't view him as a fraud. I believe him when he says he is in discussion with multiple pharmas. He and Dr Bertolino need to close a deal soon and having that signed term sheet is a good sign. Time will tell whether or not they can do so. Risk is high until they do.
His shares may be free, but, he gains a lot if he gets a deal done. His interests are aligned with shareholders in that regard.
In Reply to 'FarmaZutical'
Karin, you have met Leo on several occasions if my memory serves me correct. I trust your assessment of character so I’d like to ask you how you view him now. I know you used to hold him in high regard but given the current state of the company, the missed milestones and how it was buried under a rug, the shady financing deal involving his son and all the other fluff PRs that IMO now stand out as particularly shady in the rear mirror, how do you see him now ?
Personally, I only blame myself. I’ve always had a bad feeling about his character but I gave him the benefit of the doubt and invested anyway. Now, I’ve come to the conclusion that he is an amateurish used car salesman not capable of running a company. I might even think he’s a fraud but I’d like to be proven wrong.
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