They left a message on my answering machine at home. They saw that I hadn't voted my proxy yet and wanted me to know that they support all 5 proposals. I'm taking this to mean the r/s is in serious trouble. Never had anything like this happen before. I hope it loses. I'm voting against it.
That is pitiful!! Looks like there won't be any news to drive this over a buck. What a waste!!!
"Good afternoon calling from Laurel Hill advisory group and this message is for ******* I'm calling on behalf of E therapeutics who recently mailed proxy materials to you. We're calling to ensure that you received the information your Board of Directors is recommending a vote in favor of proposals one two five. E therapeutic ask that you please take a moment to vote your shares and every vote count. If you have questions please contact us at 8887421305. Thank you."
It's a shareholder proposal. So it does need to get shareholder approval at the May 22 shareholder meeting. If the votes were in the bag, they certainly wouldn't be wasting their time on me. I think there is significant opposition to it. They must think the vote will be close enough to call people.
The reason I am oppossed to it is the timing of the R/S. The stock traded at .80 the day they filed their intention to seek shareholder approval for a reverse split. It's .60 now, on no news. I resent the way mgt is cavalier about existing shareholders - with first a secondary well under the current share price and now this.
The EU trial is supposed to start mid-Q2: that's new week. And then wrap up in late June and be a slam dunk for approval in Q3. And what have we heard on it? Nothing. If the trial is going to start in a matter of days, the stock price sure isn't reflecting it.
If the EU and US trial timelines were still in place as laid out in the last confernece call, then the stock would have had no problem getting back over 1.00 to stay in compliance. It hit .80 the day they filed. There would have been no need for the R/S to get the stock over 1.00. The trial news would send it well over 1.00, mayber 2.00.
Now they might want to do one anyway, from a higher price. I don't know. And that's the problem. They feel no need to let shareholders in on what's going on. Hopefully they will very soon. And hopefully all the timelines are still in place (a small delay won't bother me) and the stock will rally from here. But I need to see it to believe it - mgt. has dumped on current shareholders more than once, and I'm tired of taking large hits in my investment.
I was also called. Voted no. Its time that management created some value in the technology if there is really any value there. Recent $$ raised has been only financial dealmaking. This management has not demonstrated the value in their technology. No data in the last year makes me think they cannot get it to work. Completely re-engineering the system and seen no proof that it works. Previous R&D management hired in 2011 is all gone. But we have a European Headquarters to design. Is it bigger and better than Philly or Franklin?