RE:RE:RE:RE:RE:PRC Partners (June 2022) Bealert
Certainly we feel the frustration. I am not sure "scamming" is the correct term here. More like they had very attractive and idealistic views on the potential of plans following through, that ultimately didn't work out and we have been terribly disappointed for 16 years, except the 1-2 year periods when we were flying high. Let's face it, if the company had a proper board with independence, the CEO would have been gone by year 3 regardless of the number of shares held. We can say what we want, but I am not entirely convinced that even with a series of subsequent CEOs we would have survived as shareholders as there is a network of investors tied to the founders who have kept this company afloat, to this day, all these years and the CEO himself has stepped in during the past when nobody else would. He may think of himself as the saviour when many of us see him as someone with other peoples money who dreamt big without all the experience needed at the outset to guide the company through in a more focussed way from the beginning.
There is a saying in the high tech circles, one needs 10-12 years to get something IP related moving past the ideas and research stage - if they can survive that long, the rewards downstream can be very compelling.
License agreements in biotech are risky until they are not. And when they are not as risky and the money flows, they can be very very lucrative.
The contract with Abbvie has terms to compensate Sirona should they back out, but all indications are they are still very much full steam ahead. When they go to market, well this information is not available to us and we just have to wait - ugh! Because we have been down a hopeful but not fruitful path in the past, doesn’t mean we won’t see a turn of events - we have been paralyzed with the memory of a gold fish - essentially they tell us what they know, and then the next day we forget and assume the very worst again. All we can do is keep the facts alive and hope for the best.
We must be getting close to a closing on the private placement, as we are seeing sales of shares likely by those who want to repurchase with the added share benefits from the placement. Once this is cleared up, we should start to see us stabilize, maybe bounce up a little, then move upward and onwards if in fact the developments continue.. we march on…JMHO.