The intention was to get the share price to 5 dollars. The last split got the share price to 4 dollars. It has now lost half its value in 3 months. The Rafield wants to do another 15 to 1 split to try again. By the time she is done, the market cap will be down to 3 million dollars, from the current 8 million. The Rafield still makes a million bucks a year, while shareholders have been decimated. Look for revenues to fall to about 1 million per quarter. As soon as the dollars come in, the Rafield will take them for herself.
And the CEO takes a 1 million dollar pay package. Yup, keep up the good work Lori Rafield. What a selfish little troll of a ceo. How does it feel to take a company from 28 million in revenues to 20 million in revenues(and falling still) all the while not making a single open stock purchase? Nope, the entire management team has zero shares of common stock purchased with their own money. They see where they are leading shareholders, so they just keep their money where its safe. And to the 5 Diadexus employees that read these posts, start looking for another place to work. Your CEO will grab the remaining cash until it is all gone.
I told you this 4 months ago. DDXS will eventually trade with a market cap of 2 to 5 million dollars. It is reverting back to the shell company it was, when it was call Vaxgen. Lori Rafield has purposely destroyed what is left of this company by purchasing new pipeline diagnostics that have zero chance of success and zero market opportunities. The Plac test, without an accompanying drug(darapladib), is worthless. Look for sales to eventually revert to under 5 million per year or a 25% drop per quarter until it gets to that level. The available cash is offset by company debt, giving DDXS an enterprise value of 2 million, at best. So, as Ms. Rafield scalps shareholders for her 1 million annual salary, the company itself will be valued at her salary, 1 million dollars. Sounds fair for shareholders---a total gangra(P)e of the remaining holders. Just a slow bleed to a district court which will auction off the PLAC patent back to Glaxo for peanuts.