Replies to post #25346 on BioSante Pharmaceuticals, Inc. (BPAX)

[Just the facts maam]

Jeff, I'll go along with the group.

Since there is a good chance that this will pass, I am a proponent of voting "No" simply because they have failed to justify their valuations that determined the exchange ratio and as I understand it, it increase the right of minority share holders to file suit post merger, if required. (Note: I am not an expert in civil litigation or Delaware law, so feel free to correct me)

As for the law suit, we still don't have the big picture. As I understand it we have limited appraisal right because we are a publicly traded company. A private company such as ANI has more appraisal rights. Most likely since the market normally determines the value.

From what I have been reading, a lawsuit prior to a merger is used as leverage to sweeten the deal. This does not mean we will be getting a fair deal as many stated they would take 49.9%.

Management and the Board unanimously recommended the deal and stated that it was in the best interest of share holders. Presently, we do not have any evidence to support whether this is true or not. Only upon witnessing the execution of the plan can we determine if they acted in our best interest. Once the plan has been executed we can better determine if it was fair. A buy out of 100 to 200 million for Libigel which turns into $300 - $1 billion in sales will justify in the courts if we deserve 50%, 60% or 70% of the exchange ratio. We can then present that both managements and their BODs were complicit and part of a larger fraud, if applicable.

JMHO.