Post by
lonc17 on Nov 30, 2023 2:12pm
Options
Poor Matt Coffey. Greed may have got the best of him now.
Back a few years ago he went feeding at the trough and awarded himself 175,000 options with an exercise price of $1.45 CDN.
They expire in eleven days and they are in the money.
So he will pay $254,000 to convert these options to shares. And he will hold all of these shares if he is an honorable person. Else the message to the market is "get the hell out of ONC as fast as you can because even the CEO thinks it is overvalued."
And so he will be stuck with 175,000 in a lousy company that has very little chance of ever delivering on a Phase 3 without massive dilution and probably a reverse split (agian) sometime in the next year.
Almost no chance of MC profiting on this particular visit to the trough.
Comment by
lonc17 on Nov 30, 2023 2:14pm
I think he may be hoping ONC slips below $1.45 CDN sometime in the next two weeks and he has a reason to let the options expire. I'm sure he would much rather use the quarter million dollars for something better than ONC shares.
Comment by
Azzak34 on Nov 30, 2023 2:38pm
Are you financially lacking on Stocktwits? Why 2 different names to spew the same message?
Comment by
venture009 on Nov 30, 2023 5:15pm
I can't see the sp getting down this low within a couple weeks, or for that matter any time soon. So Coffey won't be tested, unfortunately.
Comment by
Peladawn on Nov 30, 2023 2:40pm
Ionc 4 and a halfwit.....what a complete load of bull......get a big shovel for this one.....unless you know something that none of the shareholders nor several big pharmas who are in talks with oncy knows, then you’re full of it...you guys are really scraping the bottom now.....