Not a short, just a Wildcat flunkie. Seems to be copying parts of the Wildcat letter.
Did you see the shareholder derivative lawsuit filed by Wildcat? They seem to be trying to prevent the highly dilutive financing. I wonder why? Is this all part of Wildcat's Gordon Gecko strategy to try to grab the assets cheaply for them selves and they break it up to sell off the pieces?
Looks like a wolf trying to guard the hen house.
Through the improper conduct of Dr. Ji and the Board, the assets of the Company -- and, therefore, of its shareholders -- are being looted, and the value of the remaining assets dramatically diminished. Accordingly, we call upon the Board to take immediate steps to protect and maximize shareholder value. In addition, we request that the Board immediately terminate Dr. Ji as CEO or, if it refuses to do so, to resign and allow another slate of directors to do so.
Sentiment: Strong Sell
The Company has demonstrated a complete inability to exercise financial discipline, and has repeatedly entered into transactions in which it has acquired scientific assets without the financial ability to either pay for those assets or further develop them to a stage where they can be monetized.
Sentiment: Strong Sell
nice call on co to update. now that company announced being represented by both Guggenheim and Blackrock, it means company can execute on their strategy, including accepting an offer to buy the entire company if the price is good. Given multiple Billionaires fighting over Sorrento, I view that as a good sign that the stock is significantly undervalued. waiting for more positive catalysts ahead!
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There filing provides a great time to add to Sorrento. I suspect we will be hearing from the company on this next week and this to me looks like fund managers bought in at the peak and are trying to save face with their shareholders. Thanks for the cheap shares Wildcat!!
Sentiment: Strong Buy
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