All true, legal self dealing that virtually all little bio startups engage in. SEC statutes/rules are weak and large share holders appoint boards who support large share owners. Can little guys make any money, sure, if the science is successful and the company's inherent greed does not sink it. Just how it is. "Fair" is a word the SEC usually does not support for little bag holders, {Like we longs, here). A President and Congress could fix this, but that has never happened regardless of party, it's just worse now. I was pretty let down with George HW Bush and Obama, they both knew better. But "Money doesn't talk, It swears" quoting Dylan.
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