this is nothing more than a boiler room operation.youri landsbary should be nutted. go gack about 6 months and find a past post[sorry i can,t remember his code name] but he gave the whole history of mooney , how he started a phone bus. he bk,d it . the guy is a schrill.
Huntly, there is still a way to go towards approval. Two trials still to go and last trail results only showed a temporary bump.
This trial result was coupled with financing, which is why there was no bump. There are 2M+ shares that can now be sold for a profit letting the financiers holding warrants with no risk, transferring the risk to current common shareholders. It becomes a little to no risk business transaction, only temporarily putting up money and then ride the warrants. Typically, with financing like this we should be at sub $2.20, considering a $2.25 offer price, so the positive trial results is propping the price up. However, I wouldn't be surprised if we test that level as the financing closes.
Once shares are turned over, I anticipate the SP will finally start to rise again. Those financing have probably known about this offer price for a while, which is why we trended down, so maybe it's fully priced in at this time and we won't retest sub 2.20.
But I'm still not sure why Echo financed now. Release the positive results, let the price settle higher and then finance at a higher price.. This probably would have been a smarter move. And with $3.7M in recent warrant conversions, why finance now... at least wait until next year? Are there immediate plans for these funds?
Stockholder dilution? I am an underwater long prepared to hold my breath for awhile. I hope they expedite the future trials now and get this going. I saw a link where GE had invested some venture money to a private corp. around Dec. 1 for a non invasive glucose meter they want to test in Europe next year. Hope Mooney can pull this off to the benefit of retail investors. slainte
Echo: Stop it already with the positive spin. Since you can put a positive on this while the stock is tanking please use you thinking to put a negative on the result to justify the market reaction.
"Is the 96.9% good enough?"
The key metric is the MARD rate.Mean Absolute Relative Difference. The MARD rate of this study was 12.6% the prior study (non-diabetic) was 10.5%. We're looking for results below 16%.
This is an approvable result.
Now on to the critical care study.
Great study results and cash raised. All good.