There are no institutional investors because it is a penny stock and on the OTC. It’s the same for every biotech I have been in, on the OTC. LP apparently did not want to give Woodford a seat, or he did not ask for it, but I have seen giving up board seats mess up these tiny companies when such people have ulterior motives. It was better for the company in the long-run that Woodford did not have a board seat. And he may have wanted in more than the company needed him in. But he could have done a lot of damage, to get his way, once he had such a seat. I’m not really in favor of giving away seats, if you do not have to do so. Not saying he would have certainly messed up the company, but he seems, from what others have suggested here, to have had conflicting motivations and was likely looking for a quick sale, and I think the company was benefitted by his not having more power and taking the company down with his ill fortunes. That was clearly not LP’s goal, and it was not something any of us would have wanted and we would perhaps have blamed Linda when the real issue was he had no idea what he was doing with his entire portfolio.
What happened suggests he was in far over his head investing generally in this area, and yet, no one would have said that, had he had a seat.
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