So, tread carefully and know SPACifically WHATSUP before you leap. If you haven't watched this or read the transcript it is worth watching. You never know but you should not be blind sided either. Grasso on SPACS: Fluff concept; disaster for investors. 4/13/2022
The outcome here should be different as there is a good, needed product with more products on the way and SORRENTO is taking SCILEX public with a large controlling interest...Yeabut, (Ctrl F and search for redemption rate) read the part about the redemption rate so you will not be surprised if this happens. listen to the broadcast, very informative.
Income over $100 million from Covistix in Q1 2022? No way IMO! How about $30-40 million range? I would then expect it to ramp up each quarter. That is how sales campaigns go. In Q1 they did not even have manufacturing ramped up in order to fill big orders. In the US I would expect them to use the Scilex sales force. That could help get US sales moving nicely. And if they can break into the CHINA market...WOW!
>100mm? Oh 1776, I am seeing zero chance of even a 1/3 of that. If we were receiving PO's that added up to 10mm - we would have had three PR announcing this fact by now and we are, "...running at 50% capacity at our new Fortune plant in the motherland China..."
Our only chance = buyout / sell to place that offered us $7.50/share.
We are heading straight down like my optimism. Agreed - lower by June but that follows a lower by May as we top of April at a buck-fifty a share. So sad. A waste of 6 years.
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