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before the big run. He has alerted me to a bunch of stocks before they took off.
I just had to say it before Charles did, although he says he sold all so he maybe he's gone, for good.
2nd the LOL. I was here the last split when we thought we had Pfizer, but now just a drug in early development with maybe some interest. PPS went down before the split and up after the split back then from $4.80 to about $7.
This time it will go down before and after, unless the announce a development partnership or sell the drug or rumor that something is happening.
NASDAQ listing has no value unless you are raising capital. Increases "potential" investor pool. Given their financial situation and history I would say that is even less so in Lpath's case. Management is just trying to keep the printing press going in my opinion - Futile or not.
They say one there assets is a nasdaq company listing, and that potential investors-buyers (which is not specified) want the company on the nasdaq, which supposedly is the reason to do a split.
Sounds like they want to raise money and do maybe do another Lpathomab trial with a partner or something like that, because I can't see much value in a nasdaq shell which is what it would be if the other assets are sold.
Passing through. Another reverse split? Yikes! For what? If you have all these companies interested in your pipeline, wouldn't you do a deal vs trying to raise capital via a decimated stock? Hmmm. Talk about a management team that apparently doesn't get it. I'll be shocked if after they waste all that money again doing the reverse split, anyone other than insiders are willing to give them more (desperate) money based on the history here. And what exactly are they changing in certificate of incorporation? "At the boards discretion?" Double yikes!
Sorry for everyone here. A seven for one and now a likely 20 for one. How much dilution will this translate into now with all the options/warrants/ATM & grants (not to mention all those yet to be issued after the coming reverse split and with all the required true-ups in the outstanding warrants that have been and still have to be made)? Forgot about those right? Good grief.
There's no way I'd vote for a reverse split here - Especially the way it's worded:
"To approve a series of alternate amendments to our amended and restated certificate of incorporation, to effect, at the discretion of the Board of Directors, a reverse stock split of the Company’s common stock, whereby each outstanding 5 through 20 shares would be combined, converted and changed into one share of common stock, respectively (the “Reverse Stock Split Proposal”)."
Umm yeah, no thanks. Good luck to you guys once again.
Shaking my head in disbelief. What a disaster of an investment. Everything that could go wrong did. Tough lesson to learn no doubt.
Sentiment: Strong Sell