Re: Can Always Ask Tim Post by TimGDixon » Fri Nov 19, 2021 10:39 am
That is not what I said at all. I said we are not applying EUA for revenues sake that our decision to do that was based on compassion. An EUA that gets approved has absolutely nothing to do with the phase 3 clinical trial. No data from EUA would have ay influence upon the actual clinical trial.
How do you think you got your shares? Because we sold some shares to someone who held those shares for 6 months and then registered and sold their shares. Do you think investors are entitled to a dilution free investment? TSOI is authorized to issue up to 3.5 billion shares.
I founded this company and have run this company for 11 years and I haven't turned off the lights yet - you let me worry about that. If selling stock to fund operations is a detriment then every company out there is the same as us. Mhoyt33 wrote: ?Fri Nov 19, 2021 10:25 am Re: who said it’s not a priority. You said that. You said that filing an EUA is being done merely out of compassion and that Phase 3 is the priority and ultimate goal.
Re: increase in O/S What I’m saying is that TSOI is hemorrhaging money (it’s in the financials) quarter after quarter. If you’re unwilling to partner, you’ll have to raise capital through TSOI - at the detriment of your shareholders. Am I wrong? TSOI is at least 1.5-2yrs away from Jadicell generating revenue — and that’s only if the phase 3 trial ever starts AND is ultimately approved. That’s 6-8 quarters of figuring out how to keep the lights on between now and then. Top User avatarTimGDixon Posts: 2574 Joined: Fri Jun 26, 2020 4:36 am Re: Can Always Ask Tim Post by TimGDixon » Fri Nov 19, 2021 10:41 am
Your addition is mistaken and without any evidence to support it. Really - someone buying stock and holding it for six months is toxic to you? Maybe your trades have been toxic to them. Show me the language you must have read that says "they have the right to convert at a deep discount to market". Who specifically are you talking about? sego1357 wrote: ?Fri Nov 19, 2021 10:36 am I’ll just add that those shares sales are unfortunately toxic as they have the right to convert at a deep discount to market. It’s important to find better investors now that you are a Phase 3 company - use your increased leverage for better financing!! Top sego1357 Posts: 96 Joined: Sat Apr 03, 2021 3:47 pm Re: Can Always Ask Tim Post by sego1357 » Fri Nov 19, 2021 11:12 am
Tim - it’s right here directly in your 10Q for Q2 2021 that the note holder gets to convert the note at 61% of the market price (hence a 39% discount), which is toxic to retail shareholders! Not to mention u are already paying them 12% interest which is good money for that investor as it is BUT then they also get 39% off the stock price at conversion- hence those investors NEVER lose while Retail just suffers from dilution and a never ending declining share price. Now that you are phase 3, u need to step away from this harmful form of toxic debt financing
“At various times during the six months ended June 30, 2021, the Company entered into convertible promissory notes with principal amounts totaling $267,250 with a third party for which the proceeds were used for operations. The Company received net proceeds of $252,500, and a $14,750 original issuance discount was recorded. The convertible promissory notes incur interest at 12% per annum and mature on dates ranging from January 25, 2022 to June 14, 2022. The convertible promissory notes are convertible to shares of the Company’s common stock 180 days after issuance. The conversion price per share is equal to 61% of the average of the three (3) lowest trading prices of the Company’s common stock during the fifteen (15) trading days immediately preceding the applicable conversion date
BBW .... great post and spot on. I guess many old longs on here interpret it a different way of what its saying or from our understanding of it.
To each his own interpretation. I know from the investors in our area think managements priorities are not the same as when they first bought in approx 3 months ago.
So be it.... come the end of the year.... some will be right and some will be wrong. If i am wrong i will admit it and eat that crow. Time will tell