Fellow Longs and New DreamersIMHO we are probably down to a patent sale as the last hope. The current management has done nothing but fail on its long stated objective of marketing its products. Gord was disappointed that it took longer than anticipated for the completion of the so-called DD. More importantly to me, he never articulated in any fashion any anticipated or target date for the DD completion and consequently obfuscated reality. It's easy not to take blame when so-called goals are undefined, nebulous or simply mamby-pamby. The management has driven down not only the share price of Kane Biotech, but any real chance of marketing its products because of its countless marketing blunders, poor communication skills, and transparent ineptitude. Just read the numerous upbeat announcements and ask yourself whatever came of those marketing programs? The list of failed marketing attempts is long.
Losing Dr. Sri points to the fact that Kane's management only wants to market the failures it has and not complete the original goals many of us long time dreamers envisioned....yes its MHO but I believe pretty much self-evident. While doggy breath and cat scratch fever are important, trying to boot-strap finance a company through the sale of previously rejected products seems irrational.
Us longs knew that an infusion of cash would have to come. I have no problem with dilution, but I have a HUGE problem with dilution to support failed management and a failed strategy to create a value proposition that very few people see as having any value.
When the sell-off started a few of us speculated that the (allegedly Bayer) deal was dead...it seemed clear that some one knew that fact because of the way they were dumping shares. Now we know it's true and that we are back to square one...not innovating like a biotech co., but looking again for partners to sell our magic potions. Not our forte as history shows.
I'm sorry if my harsh words shock the supportive wave of bottom feeding (a good strategy btw in the right circumstances) speculators that have shown up. Stay strapped in at your own peril IMHO.
I have much less at stake now so happily for you I won't be posting as much as I used to about my once favourite junior innovator.