Have not posted for years but have enjoyed most of the entertainment provided by board. Same names but slightly different opinions expressed now. Must have been those bashers that drove down the share price, killed the "fantastic" Endo deal, and prevented full U.S. license for econiche. Sorry , just had to get in that last dig. My opinion is that the price is being managed for a takeout . I believe that at this time it is easier to offer McRae and a few managers future positions and take out the whole co. than to try and hive off parts. A 20 day average price is usually the measure that is used. For $0.80 yes, 80cents, I think BNC is history as long as McRae is on board. That would be a 150% premium on a 32 cent / 20 day average price. By keeping the price down you are keeping the holders frustrated and allowing new blood in cheap. An offer that sounds reasonably fair gives you control. Even the Biovail group would be 400+% up if their average cost was 18. I believe that at some point soon the emperor will discover his nakedness and look for the towel. He has no financial resources or past record to defend himself. This would offer him a way out with some dignity.
I know some will see this as a "poison pill event' but the valuations I have seen on this board are over the top. Reality is not kind. It is...... and the market is our reality. $1.00 tops..
I usually write rebuttals ,agreements etc. to the opinions on the board. I find that writing them down gives me a better perspective on my own opinion. It slows down an immediated reaction and allows thought to take differnt channels. Then I would erase them as I found that the value for me was in the formulation of a position and not defending it from attacks. Today I have decided to post to see what reaction it gets and because I don't believe there has been any discussion of a takeout.. Dusty
P.S. A few years back there was a group here who were offering to buy bnc stock for $3.00/share. I think we could deal now.