Klaus leaves, BD cancelled its agreement and Frannie continues to "hit every milestone" while the stock drops to $1.
SDIX has $20 million in cash and virtually no debt and a liquidation value at or above the current stock price. Edgar filings state they are spending money to expand plant capabilities.
Mr. Becker owns or controls almost 4 million shares with a total purchase price near 8 million dollars.
Will he sell SDIX (is there anything to sell?), take it private, keep Frannie or replace him?
The only good news here is that Mr. Becker is in the same boat as the rest of the shareholders. In terms of finding a way out of this mess, he controls 20% of the company and is the chairman of the board. So, it's up to him.
Sell Life Science antibodies business to someone like Millipore Corporation, Covance, or Karen Padgett and MainSail Partners. Chief scientific officer walks out the backdoor and they don't have a qualified replacement? The management of this company is one big circle jerk!