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pcarew

12/06/23 3:48 PM

#2824 RE: grandslam68 #2823

A much easier path would be just to declare Chapter7, shares become null and void, reorganize under new name.

The downside is the reputational hit.

TomFromYahoo

12/06/23 5:44 PM

#2825 RE: grandslam68 #2823

@grandslam... The symbol doesn't mean anything. You can't just ignore valid shareholders in the underlying entity. You can dilute them into virtual irrelevance (and it is a miracle that hasn't happened here, given how long VB has been around -- which I think speaks to Dr. Musick's commitment to shareholders, and keeping expenses under control). But you can't ignore them. You'd get sued immediately, and probably also face criminal securities fraud charges. All that aside, I think it would be a mistake to confuse their highly unfortunate lack of communication over the past few years with any kind of desire to harm those shareholders. I don't think they have any desire to harm their shareholders. Being in the minority, we just don't matter all that much. They've done what is required to legally bind our ownership interest during the transition. At this point, it would be really nice if they would release a shareholder letter to simply explain the strategy going forward, but they are not required to do that. I assume that they don't want to be held to any promises, such as the ones that Dr. Musick made in his final shareholder letter before stepping down as CEO (he said that they would pursue a listing on a higher-end OTC board after getting straight with the SEC). Otherwise, we have shareholder rights, and they are respecting them for the most part. But we have very little power, and they are taking advantage of that too.To pcarew's suggestion of bankruptcy, that would be a last resort, if (and only if) they were actually bankrupt. But it would be like dropping a hydrogen bomb on attacking forces on your own soil -- sure, you eliminate the threat, but you also destroy yourself in the process. But, again, there's no point in doing any of that. Legacy shares probably comprise something like 10-20% of the share count at this point (I haven't looked at it recently). We're not worth the steep cost of eliminating. We don't have to worry about such things. What we need is for the Company's core product (AlloRx) to get some attention and prove itself in clinical trials. If and when that happens, a lot of money will be chasing a very small share count, the Company will have a market cap in the hundreds of millions, and we should all make 10X or more on our investments. But it's a huge "if". If those trials never start, or peter out, it's game over for everyone.