Current Status and Future
Now that the PR is out, I have to state that my assumption about Szarko lying about putting out a statement was wrong.
As you undoubtedly noticed, the PR did not explain any more than what we already knew, i.e. that Tasly allegedly disagreed with SBS on plans to move forward on the joint venture; that the company has not found any alternative angel, capital investors or Pharma companies that want the company's research and IP. It’s unfathomable to us, and in deference to Szarko and company, I think that they too were shocked by that fact.
Regardless of what I think about how this situation unfolded, I still remain skeptical regarding the current intentions of the major shareholders and Szarko. It is the action that happened near the end of or after the unravelling of the Tasly deal that is my concern.
The only question that I can think of that we might ask from our suspicious view on the legality of delisting and the resulting devaluation of our shares is; Was the decision taken by Szarko and the Board contrived with the intention of eliminating the retail investors from any future success or benefits garnered by a potential Newco that they might form without us?
I have my own view on that and I won’t share it here. So, instead of my personal view, I'll provide just the facts from my experiences in business in the past.
I have been exposed to and subjected to creative accounting, creative legal interpretations and creative legal moves for many years, and it is certainly a possibility that something similar could have happened here, especially since one of the Board members used to be counsel for SBS at a major tax law firm.
Any other issue outside of something contrived to discount us and our shares value with the intention of moving to a Newco, is irrelevant IMHO. If this company does not recreate itself as a new entity, we have no complaint. The major shareholders have taken an action that is firmly set in precedence and they can voluntarily delist if they want. Any loss to us could only be recouped if we filed suit against the directors for something they did wrong, and at this point, I personally can’t see it.
So, I will continue to watch and follow-up on what happens here and will ensure that my conversations with the players and shareholders are shared with you, but not on this site.
We have a group of interested people who would like to do the same. We can always take action if warranted and the more we support and share, the better our opportunity would be. Contact me and provide me your personal e-mail addresses if you are interested in joining the shared mailing list. There have been more people interested in joining us recently, including a small investment group who own three million shares.
Mick