Hey Big Jim,
i expected to get a response from you. I truly hope you hit paydirt on this as do I. But that fact is no one knows what going on and I just stated I once was invested in a company that acted like this and while I hope its not the case it is possible and can be done legally. Any doubters go look up On2 Technologies taken over by Google. Sad thing about that story was we sharholders voted against the take over multiple times so it did not go through until enugh shares were aquirred to get it passed. Again only a hypothisis that i hope does not come true but believe it or not I think it is an absolute possibility weather you or I like it or not!
No, I do not think LPC cares one bit about investors one way or the other , other than thier own investment. What I am trying to say is if a company made an agreement to be bought out at a certian price, then the long shareholders would expect a premium to the current value of their shares. In the one experience I had they based it on the last 90 day share price average. My point being if that average was/ is $4:00 vs $8:00 then and the sell price were lets say $16 then it would be much eaasier for approval to say the premium was 4 x vs. 2 x. Obviusly then management would be a part of the aquiring company. Every long is up but not nearly up as much as had been hoped or planned on.
I suspect a deal has already been made by management to be aquirred by another company at a specific price based on a sucessful phase II result. LPC is the middle man in this and its purposee it to sell the shares and keep the price stable or even lower. Bottom line if the price had run or even stayed @ $8.00 and good results then came out then many long ternm investeors would have expected the buyout price to be ( you fill in the %) double or triple. But if the price dropped to $ 4 and positive results announce the the selling price can be 200% of current price $16.00 vs. 100% of $8.00 . I haope I am wrong as i have been long from Crxx days but I had this happen before and this stock is acting exactly like that company is and there was not 1 thing investors could do about it back then . We will soon see.
Been here since Crxx but cost ave. $1.26 pre/split. been riding this elevator for a few years now. Don't plan on getting off until I hit the penthouse or the basement. No in between
We longs know what that means..............ttma
Well stated Sir. Thanks for the timimg clarification, that was the only part of this I had confusion over.