hp, your logic is backwards. Liquidity is a function of volume and turnover, It has nothing to do with bid or ask spread. Everyone is right you're out of touch and know nothing about the stock market. It's no wonder you're bitter about your losses while everyone else is happy with their investment gains. It sux to be you man.
Really? Does that mean that if there is a low float that makes the price go down if someone buys a large amount it can go right back up? Thanks captain obvious. I hate to pop your balloon but it was real money too when ECTE was trading for $45. Maybe you should try some philosophy about exercising patience.
I would think much higher than 5.50. ECTE has a tiny float and market cap. Only 11 million shares outstanding. Any buying volume could push it to 5+ very fast. They will have China approval before U.S approval and China has 3x more diabetics. See the tweet by ddbuyer showing the ECTE sensor being as accurate as the DXCM sensor. DXCM has a 5 billion market cap. The upside with ECTE is big time.
I believe the funds will fix the software thing but they wont need the money for China trials. MTIA was putting up the money to pay for the trials under their agreement.
I also agree with this post. Some people are tainted because the company made mistakes getting to this point but thats in the past and has nothing to do with the future with the drugs approved.
I agree that the floor should be between $5 - $6 bucks based on their big cash position. The tougher part is valuing the drugs in development. I've looked at Macrilen and if you consider the market size and assume Aeterna can get 1/3 market share for AGHD then the drug should be worth another $22-$29 a share in the first year of approval and could grow from there. But there is still risk for FDA approval so you have to discount that down. Zop-Dox in phase 3 is tougher to value imo but should be worth at least another $9 a share, The trial shows that recruiting is done so it is moving toward completion by next year. Zop-Dox for ovarian indication is only in phase 2 so it probably isnt really a value contributor unless it gets to phase 3. All in all AEZS could see $20 in 2016 with only 10 million shares outstanding.
nugget is right the company is making good steps in the right direction. You have to have patience with turnarounds. They can be big winners but it can take years. If you cant stand the heat get out of the kitchen I suppose.
You're right. Big companies will not tolerate their managers trashing companies they've worked for. It's unprofessional and reflects badly on them. Chip better hope his boss doesn't find out about this or it will be pink slips come Friday.
I thought this was reposted. Add China visit to the list.
Solid progress by the new ECTE management in 5 months
Fired the 3 directors that almost bankrupted ECTE
A new CEO
A new CFO
Hired BDO which rocks!
Rehired the technical team that was fired by the 3 directors
Got $4 million in new line of credit
Got MTIA to reinvest and come back
Got a new Symphony sensor designed
Cut the Philly office closed and cut rent from $15,000 a month to $7,500
Closing MA plant and moving to smaller space
Cut cash burn down to $270,000 a month
Getting SEC filings caught up that the old 3 directors messed up
Milestone No. 1 done - CGM sensor wireless communication
Milestone No. 2 done - China FDA meetings underway
Sentiment: Strong Buy
Shorts walked it down for weeks then stopped shorting yesterday. Back up she goes!!!!!
Sentiment: Strong Buy
Right on schedule. Kudos to the new management team for overcoming the delays created by the old management team. I'm amazed they got the 10K finished before May or June.
Platinum saved the company from the criminals. I even hear one of the old directors is under investigation by the SEC or FBI.
Congratulations. I've made $14,000 so far on this and it hasn't even got started. $4 in January.