RE:RE:RE:RE:RE:HOLD ON TIGHTOf course this could also be the start of an amazing series of events....
ctblizzard wrote: Management change is in the "final stages" LOL (bad joke I know)
you should know everything you need to know in 22 days or so!
Honestly I find it funny how everyone was boasting about how awesome this management team was for a year now. While I tried to say the missed guidances, blow by of debt due dates and 90 days nonsense was a big deal. Now everyone is like this change is great!
In any case in my experience director changes an resignations are usually not a good sign regardless of what is stated on this board. Especially when they come at a mission critical time just as many years of hard work is either going to pay off or not pay off.
There are many reasons why people resign or changes are made. Some include they do not agree with the path/plan or even that the insurance covering directors and officers is not renewed due to the financial condition of the company (actually pretty common reason for resignation). In the most serious cases they do not want to be around for a bankruptcy etc.
It could also be as simple as wanting to get paid in something other than stock they cant sell for an extended black out period. When you resign you are no longer an insider (not sure the waiting period if any).
My best guess is that Vertex is going to have to take this thing over . They basically run it now. Between the financing, the royalty,their ownership and warrants, the restricted cash, the board seats and the fact that is possible they or someone they know might do the financing its the whole ball game. Why not finance it a good chunk of the money goes to them anyway. Just what part Timeturns plays in all this who knows, lots of money for ????
By the way, remember early discussion of the financing mentioned Timeturns was a well established prime and already had the financing in place? (hope you remember..)
What this means for shareholders is anyone's guess.
The share price reaction today is not overly bad so the changes probably are not either.
However I continue to ask why no one ever wonders to themselves why this stock was at 60 cents US, 78 cents Canadian last August without even a signed contract and now while with a signed contract and in the "final stages" with all these earth shattering new directors it sits at 26 cents US, 34.5 Canadian. This is despite MG buying 1 million shares, then adding in Feb, then adding a bigger amount recently . Despite many of you adding on drops and other people on the biotech board loaded to the gills.
When you find the answer to that riddle you will understand a lot more.
Some other questions..
1- If someone has "reliable sources" that say its a Canadian financier maybe that info should be released by the company? . Should be good for a nickel in stock price or more
2- Why not make a pre-emptive announcement now rather than wait til debt deadline and let the stock lose traction again?
3- Why does all the guidance really offer no info other than new dates and guesswork?
In the absense of more details from management, the announcement does not seem to have cratered the stock which is a good thing I guess. the story will unfold soon. hope Bash is right...