The "carnival atmosphere" is purely intentional.............Anyone watch the KEEK bullboard track the stock up and down....same game, same players.
9 CENTS was a good number to close at, a couple cents less than the cash actual value of the company minus a single asset. This "9 cent'r" Comes complete with a partially government funded VMC ( vaccine manufacturing facility ) for a FULLY approved Canadian vaccine for ECOLI0157 that runs less than $10/head of cattle to eliminate 90% of 0157. In addition, it would save over $250MM in Canadian annual health care costs, not to mention numerous kidneys. Then there was the animal health business we sold for a "song". Growing revenue in excess of 30MM/year with a 50% gross margin. While still earning this 30MM annual revenue we were pleasured by a large US firm with a 15% loan during the lowest interest period in history. Then Paladin ( now ENDO ) really stepped up and offered a "deal" with a 13.25% loan, and all they asked for "the deal" were the Urocidin rights to Mexico, South Africa and Canada for NOTHING. This "deal for NOTHING" is a chapter on it's own. This "FREEBIE" took the proud Bioniche shareholders "buy surprise" as the expectation was for upfront millions in exchange for "the rights". Most disasters at Bioniche tend to happen during Tax Loss Season, this "Groudhog Day" tragedy is an odd occurence, but it did go off on a Tuesday and we waited until all time zones had their coffee before we "shared the news". I noticed the August Friday afternoon approval from the FDA was HALTED until 2pm on a Friday in the middle of summer before the "trading resumed", after two hours of Momentum, it's was crushed early Monday morning.
Based on what I've witnessed at Telesta, the 9 CENT CLOSE today was not at all shocking.
The Eeyore syndrome displayed at several participating Canadian bio-techs has about run it's coarse.
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