Based on the lack of reaction by the message board, I have to just assume you guys missed the post, because this should be a huge confidence builder for current and potential shareholders.
FIDELITY not only did not sell their 6.4M shares, they ADDED ANOTHER 2.4MILLION in 2013!!! Check the 13g filed yesterday.
Basically, they are saying the same thing I am: If given the choice between dilution and BK, I choose the option which keeps the company and science alive and still gives me the chance to make money out of this investment.
I don’t understand those that complain about dilution……..since the only other real option at this point is BK and a complete loss of your money (assuming you are invested and not just posting on a message board that you don’t own stock in).
I have now reviewed both the 13G from this year and the 13G from last year. In my opinion Fidelity DID NOT increase their share count. A clear inconsistency is present in the new 13G. The new 13G calculates total potential ownership based on the conversion of warrants at a rate of 1 warrant = 1 share. The old 13G calculates total potential ownership at 1 warrant = 1/2 share.
If you normalize for the inconsistency between the 13Gs, you will find that Fidelity sold 146,902 shares over the course of the year.
The only one I see is FMR LLC · SC 13G · Polymedix/Inc · On 2/14/12 which says: "'Various persons have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the
sale of, the Common Stock of POLYMEDIX INC. The
interest of one person, Fidelity Select Biotechnology Portfolio,
an investment company registered under the Investment
Company Act of 1940, in the Common Stock of
POLYMEDIX INC, amounted to 7,402,918 shares or 6.882%
of the total outstanding Common Stock at December 31, 2011."
I think its a nice vote of confidence. However, the question is, did they purchase shares before or after they announced the involvement of the investment banker and Nick's departure, etc. Because I feel it was a very different situation in early January...
I am 100% in favor of dilution verses bankruptcy but if an option exists for somebody to press them for a non dilutive reverse split it is obviously a no brainer that we'd all want that option! I still believe in Santa btw!
Just amazing mullet. WE get confirmation from Fidelity that pymx's strategy(you know they have been talked with) has a good chance of success, and all we get here is the same whinners complaining about the same things.
I've been a little busy with work and Spring preparation in the yard (acreage), but I thought the last time I looked that Fidelity has SOLD that many shares...... So, it that is so then I'm my might start manning my computer board again. Hell, this just has too much to not make some kind of splasm. Geez, certainly the FDA can't be that strict on these such drugs. Good Gosh, if your trying to cure lip cancer with stronger affecting drugs and such then yes. But, this is an antiboitic and probably could pass as alcohol with a little juice. What gives?????? I'm going to get things ready so I can visit Randor, should be very nice in the early Spring. Later, Tim
How do you know that the only choice is dilution or bankruptcy? Please explain why it is impossible to reverse split and reduce authorized shares in the same ratio. Of course, if the only choice is dilution or bankruptcy any reasonable person would opt for the former.
Mainly because if they reduce the number of outstanding shares by a percentage equal to the RS percentage, they will not be able to get enough funds from selling stock to finance continuing operations. As the proxy says: "Hypothetically, a sale of 69,047,365 shares of common stock at $0.155 per share, would generate gross proceeds of approximately $10.7 million."
Say they RS 1:10 and cut the maximum share count to 25,000. Instead of 69,047,365 shares of common stock available for issuance (at $0.155 or a little more than $10M), they would have 6,904,736 shares available at $1.55 or a little over 10M.
Any way you look at it, they have to dilute by more than their present available share count unless the PPS magically at least triples.