RE: Majority soon . . . Yes, I’m rather sure of that. Soon, as DFI will be ready to make profit he will use his power to grab all.
Why I think so?
Well, I did have quite bad experience last year with (VBI) Viventia Biotech last year.
I bought 30K shares at $2.00 and it slowly went down to 16 cents. Company major holder Leslie Dan (from the famous filthy reach Dan Family) was constantly supplying money to keep things going, as they didn’t have any product to sell, but they cancer research based upon the isolation of human monoclonal antibodies from cancer patients and their subsequent development as Armed Antibodies, delivering cancer-killing payloads directly to cancer cells was well advanced and its lead product Proxinium, was in clinical development for the treatment of head and neck cancer and bladder cancer + several other product candidates were in pre-clinical development as well.
I thought, that when Proxinium is approved, then I’ll get my money back and more. Many other long time shareholders felt the same way so we didn’t sell.
Suddenly they announced share consolidation 10:1 and stock was mostly hovering between 2 and 3 bucks after that. It went to something like $5 + at one time, but it dropped down after while to about $2.50.
Leslie Dan was still pouring more moneys into VBI, strengthening his ownership, and people seeing that, were buying in or increasing shareholdings.
Next, the leading drug Proximium received US. DFA approval with the orphan drug designation. All were happy thinking that shares will pup up to 20-40$ range soon.
However, immediately after the DFI approval Viventia announced that its major shareholder Leslie Dan is taking Company private and all other shareholders will receive cash at the present market value. END OF STORY!!!! How do you like that?
My take is that most of those reach people on top, just don’t give a squat about us, retail shareholders. As long as we serve their purpose (buying into it where most cash is needed) is OK. But, when they see, that things are looking good and they are sure that a big load of money is coming their way, they will quickly shut the door in front of your nose! So, I figure, that it may happen here as well.
Regards, TA.