just posted on i hub!!!!!!! READ!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Talked to IR just now (Brian Luque). Brian used to work on the research side of the company before becoming director of IR. He said he is well connected to what is going on inside the company.
I told him that I would be concerned how the market would read this news as being related to a "medical condition" and needed some assurance that there were not underlying issues related to the plans to begin testing their scaffold product this fall in hospitals, whether that could be related to hospitals agreeing to perform the procedure, insurance issues, or other issues related to the viability and acceptance of this product. Brian assured me that nothing has changed with regards to plans to use the biopolymer scaffold in patients this fall.
I also told Brian I would be concerned that the market might read the signals wrong as if the head of company is jumping ship due to something that troubles the company, like a rat fleeing a sinking ship. Brian assured me again that nothing has changed, that the company still plans to uplist. I asked Brian if this change (appointment of interim CEO and a CFO) would now mean that all the requirements of corporate governance that had to be taken care of had now been achieved on behalf of what was required of InVivo. Brian said that the company's PR news releases stated corporate governance issues were the reason for the uplist delay and that nothing has changed in that the company still plans on uplisting.
Lastly, I asked Brian if there were any other things to be concerned with as a personal investor who might have a large position in the company, that whatever the market reaction may be, whether the company would recover from such market reactions if their milestones could be met for fall 2013 for start of patient trials and for hydrogel submission to FDA. Brian stated that they were still moving ahead with everything as they have announced and that the CEO/CFO change was not affecting any of that. He said it is possible when the interim CEO contract period is up in January 2014, there is a possibility they might make him an offer to stay on permanently.
Good info, but does not tell us anything. Of course they plan on Up-Listing and they plan on testing, etc. They can plan all they want, but I think the way this abrupt resignation story was handled by the company is just plain bush league. They could have put a positive spin on this story. Sorry, but I don't see anything good about this situation. It just creates more uncertainty and investors hate uncertainty!! JMO.....
Guys like you will end up holding the bag here, as others read your news and realize they might be able to escape thanks to kool-aid that soon becomes tainted. Let me just say this loud and clear .... if you can get out above $3.75 tomorrow, YOU ARE AN ABSOLUTE FOOL IF YOU DON'T.
Your horizons are usually a matter of hours or at the most, 1 to 3 days on this and other stocks. I guess if all you want is a bounce play, you will buy more at $3.75 and sell later at $4.25 at the end of the day, after investors realize that the replacement of Frank Reynolds with Mr. Astrue actually makes their product introduction experience/management strength much stronger.