RE: looks like new lows are on the wayMy prediction at McRae's state of the union address on Sept 18 includes the following themes on the vaccine:
- "Canadian regulators are completely ridiculous. They don't know what they are doing. They are going to be totally embarassed when the US approves our vaccine before them. Nevertheless, we are working well them and intend to have a protoocol for a baboon study in the very near future."
- "US regulators are so much better than their Canadian counterparts. As soon as we finish our latest study, we should be in a great position to submit the vaccine for approval (unless of course they ask for the same baboon study as the Canadians in which case they are total and complete idiots too). By the way, we have not started the baboon study without an approved protocol because it could cost as much as $500,000 which does not offset the risk of a 1 year delay in getting to market for this important drug."
- "None of these regulatory delays are BNC's fault. My previous prediction of regulatory approval of the vaccine within a year in 2001 would have come true if only we had reasonable people to deal with. The whole world is against us!!! And it's not our fault!!!"
- "Just because none of my previous predictions have come remotely true, does not mean you should not believe me now. The investment community is ridiculous."
- "Just because BNC is at 10 year low, does not mean other companies are not in a similar position. Look at Hemosol!! I bet you are glad you did not invest them!!! Nevertheless, we sympathize with our investors and intend to dilute the crap out of the shares (afterall, doesn't misery like company?). We'll get lots of new shareholders to share your misery"
- "Lastly, because of the outstanding progress that management has made in these very trying times, we have decided to award performance shares in the amount of *** (atleast 5% of the company) to reward our senior professionals for a job well done".