Keep, If you had the ability to be objective for even a moment, you'd acknowledge that the article is critical of the financing across the industry not just ACT and not specific to Gary. The next logical question would be why is that the case? Logically these companies didn't do toxic financing because they wanted to, it was the only financing they could get. Even with the progress that ACT has made, look how long it's taken to get to this point in ONE trial. I'm not saying that the company has been perfect in its execution but the regulatory environments helps to bleed these companies white. Given these long time lines,mwith no guarantee of success, is it any wonder why more mainstream financing isn't steping up? Well at least Keep you have your answer on why some VC firm isn't buying up all of the shares of ACT - but I told you why a long time ago.
A quote from the article. "My pessimism stems from the fact that the sector is plagued by poor financing deals that have literally run roughshod over retail investors, and worse still, there are too many bad actors within the sector that hype results and subsequently dump shares on unsuspecting retail investors (e.g., ACTC.OB, ___,___- just to name a few that have pulled this shenanigan in the past at some point).
Many here seem to be mimic GW when he said...."There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again."