R/S was approved back in June and the vote to increase the authorized shares from 200M to 300M was shot down. If approved, this would have given them approx. 175M unissued shares.
Following R/S approval, they could have loaded up on LPC cash and then hit us with it much much sooner....but they didn't do that, did they? So they held off as long as possible and let the shareholder value increase and when they did announce it, they announced it on a day when the stock could very likely have started a pullback from a yearly high.
Of course, they still ended up with approx. 175M unissued shares, so maybe rejecting the increase back in June was the right thing as it could be 275M unissed today. Although maybe they would have held out a little longer on R/S if share increase was approved back then.
But you know partnership/buyout is not guaranteed and maybe management would rather go it alone (taking z160 into ph III) than accept a bad deal on a partnership.
Rodmen & Renshaw Conference:
The Captain: "Potentially poised for a phase III start towards the end of next year."
i'm sorry Chevelle,but at this point,after knowing all the facts and ignoring them,you became a sucker,this company got nothing but PURE BS,get out before you loose everthing,let's put them out of business,it's a big scam,those are thieves,and I HATE THIEVES,THEY DAMAGE MANY GOOD COMPANIES AND MANY GOOD PEOPLE,F..THEIR PILL,F..THEIR POTENTIAL AND F..THE MANAGEMENT, IT'S ALL BS
That's your opinion.... you can come back and tell me "I told you so" if phase II results are negative. I'm holding....I like the facts that have been presented and I still believe the odds of z160 successfully completing phase II are very good. Have a good weekend yborcat.