David Dodd 270,333 shares and 775,000 options - you think he wants that diluted to nothing??
$10 million at 10 cents is 100 million shares, at 20 cents we're talking 50 million shares .... what do you think spiked the price 6% on volume today?
Or would you do nothing if you were Dodd, allow the shares to go to nothing? What if the trial fails and you have over a billion shares trading at 2 cents, need money and just lost your best asset? It's an insurance policy that can easily be bought. This way Dodd says #$%$' to the shorts and warrant holders who tried to make him look like a fool. You have to have kahunas, brains and guts to make such a move, all of which Dodd has ...
Who thinks this makes sense? If you had $45 million and the shares were trading at 1/3 of the cash value ($.25/share), what would you do? The shares are probably worth $.35-$.50 right now without a positive DSMB reading, maybe $.75-$1.00 after??? Would you put down $10-$20 million on a 700-1000% potential gain in 30 days and protect your company? Why not, what else they gonna do? It just makes sense - don't it?
Let's face it, if I was Dodd or Turpin and I worked as hard as I had to build value and a strong commercial presence the last thing I would want is my company diluted to nothing. They have approval for a 1:4 or 1:8 rs and no more. They also have a compliance issue to deal with by December. Yet they know the have a BLOCKBUSTER drug in ZoptDox and another Phase III? So if the shares were trading at a dime when they are worth $.25 / share as of a week ago I would deploy $10-$20 million of cash and buy them back? The hold them and if the results of the Phase III DSMB are positive they can sell them on the open market for $.50 a share raising $50-$100 million dollars (or more), solving all future financial problems until the drug is launched. Or, cancel them and do the reverse split with the 200 million that are already outstanding. What have they got to lose? If they don't take that action the shorts and warrant holders could take this to a penny and well over a billion shares from which they would have to gain new shareholder approval for a much higher rs ratio and then still be forced to raise money in late 2016. So the question comes down to do you think Dodd and Turpin are sitting on their hands doing nothing or have they started taking the only logical move available to them? Who put up the BIG BID WALL today and walked the price up? Wasn't shorts or warrant holders, think people!!! See you at a buck!
thanks for your contribution - too bad you're way off base, anyone else?
Let's assume around 300 million shares, are we looking at $.20, $.30, $.50, $.75 or $1.00++ I'd have to think a market cap of $250-$300 million is warranted so $.75-$1.00?? What are others thought here?