If the product pipeline is staying with bpax and it is not being assigned appropriate VALUE then it is a dilution.
If I have:
$32,000,000 in my pocket (present value)
A post-dated check for $4,000,000,000 that I can cash next year.
What am I presently worth? Should I sell 53% of my check for 36 million and a promise I can keep 40 million + 47% when the check clears?
We invested in this company because we believed that they had product(s) that would be very valuable in the future. Now they are telling us they are worth nothing? Is ANI bringing products that have the same potential? If they are not, then it is dilution as we will own less than half of what we did before for less a tenth of what we are giving up.
If I understand correctly, the CVRs are meant to compensate for the "appropriate VALUE" I mentioned. SO, the issue is: Are the CVRs adequate compensation?
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