RE:News - Private Placement $12MI actually laughed when i saw the news of this private placement. In typical Adams' fashion, he puts out what ordinarily would be good news (acquiring Baymedica), then kicks you in the nuts with a massively dilutive cap raise.
Remember the "hey we're moving to the Nasdaq" following by "but we are gonna do a 1:33 reverse split".... ugh, this guy is truly disgusting.
The cap raise alone (warrants included) just doubled the share count. 100% DILUTION - not even incuding the Baymedica deal!!!
Please, please somebody show me another company that dilutes 100% at a time (on the Nasdaq).
Remember they just diluted 4 months ago in February as well as 3 months prior to that in November.
Man o man, he is absolutely fleecing his shareholders.
The sp got a nice bump today but there's no way it will sustain. Common sense (and valuation alone) will prove that. I have said it before and will say it again - at this sp and the rate of dilution, there's seemingly little chance they can maintain the qualifications to stay on the Nasdaq......