I'm sorry, but I couldn't disagree with you more. Firstly, Montaur is by far the biggest common shareholder in the company, therefore the price of the stock means more to them then most. Secondly, the warrants are priced way above the market, with the subsequent warrant being priced even higher. Also, the warrant are cash only warrant meaning they must put down more money in order to excersise them. For this to make any sense at all for Montaur, the stock has to go much much higher. A equity financing would have been a disaster down here. Now they are fully funded through the approval process. In reference to what you call little trials, you just don't know what you're talking about. This is customary. These are internal studies, done to perfect the product before filing for regulatory approval. You can't just throw a prototype at the FDA. I believe this company will be a significant player one year from today. Meanwhile there data has been nothing short of spetacular.
The trials i am referring to have lots of data points but are off only a few pts like about 20. Which means they only are testing a few appliances and applications of the derm-abrasion blade. FDA will require many more pts since this will be considered the equivalent of a temporary invasive medical device on both the drug and device sides of the house. Remember ECTE has not even filed for phase 1 or 2 trial approval. However The FDA should grant special consideration and allow ECTE to jump directly a phase 3 trial. back to the loan thing, The loan will need to be repaid in full plus 10% interest plus several million dollars of warrants. The 20 million of course is dispensed on a milestone basis. Fortunately if ECTE hits the milestones stated this will raise the share price significantly if they do not -- by by ECTE into the toilet bowel of bankruptcy given that ECTE is only a one horse stable. I am long and would like to invest more. I am excited that the torch is under Mooney now and this investment is a temporary reprieve from further near term dilution. Moreover this might create a floor for the share price which at the end of the day is all that matters for a share holder.
I, too, may be a one-trick-pony poster on this board. I have not looked at this board in several weeks and this is the first thread I read. So, discount me fully if you even bother to read any further, I'll understand.
Everything about this stock as a public company, beholden to the shareholders, is predicated on fair dealings and fiduciary responsibility to the shareholders. All too often, the startup company, biotech, high tech, and those with the latest, grates potential technologies, use the development phases to bilk vast sums of money from innocent investors to bring their wares to market, regardless of the financial precipice it places the company on. Deep pocket financiers get iron-clad legally binding better deals than the common holder ever approaches. They end up with the money, or even worse, the privatization of the developed technology, and at very least, most of the meat off the bones of a truly worthless enterprise. I have been posting here previously awhile ago beseeching those that would look into the situation to protect your own capital, let them water this thing down AS THEY STATED they would, then take a look at it. This goes for a lot of stocks. Don't believe that you have found that one 'Needle in the Haystack', Diamond in the Rough stock that is overlooked by everyone else except for those few Big Guys investing now, they may be only solidifying their claim on the technology for pennies on the dollar through BK once all their R&D money (current financing) gets the technology really where it needs to be.
I like a company that is a bit more transparent, that the principles have many of their own years as well as money into the project, AND their own fates are tied to the performance of the COMMON SHARES (not layers of warrants as well as higher classes of preferred shares). Good luck all. I hope this company is the true exception to these financing games on the backs of common shareholders.