A fake release right AT THE SAME TIME or AFTER the $7.5 million toxic loan January debt conversion announcement.
By fake, I mean like this summer's CD10 releases ("great safety", "impressive results") which were talking about everything but the missed primary endpoint and triggered a stock crash.
By January prepartition announcement, I mean that the January $7.5 million they owe to their toxic lender (as in Feb, March, etc...it's killing their treasury) is based on my estimates way above their available cash due to the other required payments and burn rate. So I think they are negotiating currently another prepartition exchange of debt for equity to get rid of the January repayment. They need to settle a price for the equity shares offered to the lender as part of the conversion. Last prepartition in December was a blood bath ($3.4 a share!). This is not an easy discussion and I am convinced they want it closed and signed before the upcoming stock crash when shareholders will read about CD12 disappointing results. Otherwise they are at the mercy of the toxic lender who will request an even lower conversion price...
Their loan contract states that the $7.5 million repayment has to occur in January (in each calendar month in fact), which leaves a couple days maximum.
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