Revenue, dilution, Board members liability Player. Q3 12 our revenue was 8.7mm. Last quarter Betequine did 900k in new revenue. We added Immunocidin with 1000 Vedco sales reps in the US and Sin Susto launched in Canada. One would assume our sales would at least beat 2012 Q3 numbers. To miss by 12%? Huhh? Not possible even for this crew. Something smells fishy in Chinatown. They must be booking some revenue for some reason in Q4?? Why on earth would a company in their situation, want to defer revenue and make themselves look weaker than they actually are?? Someyoung?? It would sure soften us up for a buyout! Any real reporting company would explain the shortfall in detail. Not Bioniche.
Zep a lot of great posts tonight. If they diluted us by 50% after telling us for 16 months they have many options that are non dilutive, GW would be a shoo in. Good news is any time you do a share offering over 25% of existing shares it has to be voted on. Graeme wouldn't dilute his shares by 50% unless he absolutely had to.
They have more cash than I thought they did too. The only real pressing issue is the 5mm needed for RCP covenants by June 20th. They could in a pinch do a 24mm share offering at .22 and get the 5mm needed.
Someone else asked about Board members and liability. Each board member can be sued individually and as a whole. That might get a few of them to pack it in. Here's your severance package....a jar of Sin Susto. Dont let the door hit you on the way out.
Lets get GW in to run this ship before it runs aground. We are getting precariously close to shore. GL
beech