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trazbull

10/24/13 1:39 PM

#100224 RE: bme #100222

there will be no Opening price per se when it begins trading. The price will be set by us holders setting bids and asks and then hitting them for fills....this is NOT an IPO with a starting value for trading (the IPO price)....it will most likely start out with a very alrge b/a spread which will close as peeps move their bids and offers until they are eventually HIT and filled...then we will knwo the price and it will move from there based on trading.

The opening trade will set the price and move from that point by mrkt forces alone. Remember thee will only be 20M of these shares in the flaot and most of them will be tightly held, so the true amount of shares avaialble for trading is gonna be very, very small.

Anyone short BMSN shares on the ex-divy date will be obligated, however, to buy REGEN shares on the open market once trading begins so that they can meet their obligations to deliver the shares to the longs getting the divy. I am speaking in general terms and do not think ther is or will be much of a short BMSN postion at that time (or even NOW), but if there is, that is what must happen....and that alone will drive up the regen pps, especailly given the share structure and practically insignificant float.