Nasdaq unlikely After today's AGM, the likelihood of a Nasdaq listing is remote. With 320 million shares outstanding and the possibility of more in the future , I just don't see how they can qualify for a listing .
Since managements decision to self compensate based upon 15% of the float , they will never roll back the stock to get the share price higher. Real liquidity is on Nasdaq and share appreciation . I fear Toleikis will keep things at a snails pace to keep control and because of the large float, it will be a miracle the share price gets above 2.85 .
Even at $3 with a float of 320 million will give a valuation of $1 Billion Canadian . That's a a double from here if your lucky and not guaranteed . Not this year because it seems Toleikis telegraphed that is focus is doing licensing deals for the longterm . He has no plans to entertain a buyout anytime soon . There is no immunosuppresion, clinical study will take awhile to complete as they tinker around with optimal dosing . The real threat is time . He has already wasted a year and done nothing. Another year will pass before we see any potential tangible results . I think in a few years he might get it done, but with a large float and not much appreciation to the upside wth share price being on Venture exchange .
But that's ok if you want to wait another year or two for a potential double . The real money was made to those who sold above $2 in January . I missed that chance and believed management would move things rapidly . Here we are after a dismal AGM where nobody got to voice any concerns and we list sideways like a ship without a Captain or working engine for months . Management did not give a timeline for anything . Nothing period.
No pharma is going to do an equity position when there is no immediate solution for immunosuppresion. Seems like management is just starting to hire staff now to start all these scientific fronts ...immune coating , thyroid , and maybe hemophila. No mention of how long before we progress on any of these fronts. No mention of burnrate except Matthews sponsored article today ... what a coincidence . This was a regurgitation of the investor presentation of the past 6 months with nothing to add. This is a longterm science project for Toleikis , he is not concerned about investor returns for the immediate future. And the longterm upside will be limited in a few years with a float 320 today , could be 500 miilion shares 2 years from now on a thinly traded Canadian market .
This is a US trial should be on the Nasdaq..., but that is highly in doubt and so is a multibillions dollar buyout .
I will not be on this board much longer. I have said what I needed to say unless there is a significant development or liquidity issue . Others know where to find me .
Ms Mustang Sally