Replies to post #64522 on DNAprint Genomics (DNAG)

[frogdreaming]

And I guess you were never much of a whiz at math.

I guess you consider less than 1% ownership a "major" position...lol

I'm sure you remember the details at the time. (Yeah right.)

Both Monica and Richard together held over 10% of the Biofrontera shares. (And yes, I do consider that a major ownership share.) Biofrontera was worth about 5 million dollars at the time. (That's a $500K share for the slow uptake crowd.)

DNAG came along with the most incredible offer, they would buy over one-half of Biofrontera (actually 51%) for about $25 Million. In the filing they 'valued' Biofrontera at $50 Million, and were able to claim then that At the time of the transaction, Mr. Richard Gabriel and Ms. Monica Tamborini were common, non-voting shareholders of less than 1% combined ownership in Biofrontera AG. Their $500K of a $50 Million total certainly 'looked' like 1%, but people need to parse the entire sentence. The significant phrase is "At the time of the transaction...". In reality both before and after the failed transaction they owned a much larger share. Only at the time of the $50 Million transaction was their share ever so small.

But you knew that didn't you, Mr Smoke and Mirrors. lol

regards,
frog