First, company already owes over $110 million (payables, vulture fund) which will require almost 50% of the 200 million shares. The company burns ~$10 million a month (lost $140 million last year). That's not opinion that is simple financial spreadsheets. It says they are not likely to make it to the next shareholder meeting at best.
Add the significant increase in legal fees (S&A is very pricey) and proxy fight, and more overhead with more manpower and more expensive trials (NASH, oncology). Observation.
Company is at a high risk of not being an "ongoing concern" -- company auditor's opinion.
Clinical trial opinion -- based on 20+ years of biopharma experience and 20+ biotechs in my portfolio.
FDA statement, Company filings on SEC and DOJ investigations, Amarex provided RTF letter and NP emails. Not hard to read and understand.
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