RE:RE:I really don't understand thisTX...We should stop referring to the Palladin agreement as a "DEAL". In my opinion it was an 18% loan that Palladin enthusiastically agreed to, based on the sale of Animal Health. Bioniche seems to have backed themselves into a corner with the previous payday loan and were about to breach certain covenants, so why not accept another loan from their friends in 1981 plus 5 mil for the privelage?
Not a penny was paid for distribution rights or assistance in developing the Urocidin product as one would normally expect, and we told to expect, with any Urocidin "Deal"...Other than Bioniche, I am not sure another corporation on Earth would consider that a "DEAL".
Speaking of deals, I read the un-redacted version of the court's ruling at Save Bioniche. It seems pretty clear that GW made an offer in the Feb/March timeframe that involved 10 mil in cash, for some substantial shares/warrants which would have further dilluted the company...maybe up to 40%.
However, the other side of the coin would have meant GW on board and the eventual dismantling of the current management team and BOD. I think that this is something all of us should have been made aware of. Some shareholders, maybe a majority of shareholders, would have been more than willing to dramatically increase the float in return for 10 mil and new, brand name, connected, well respected leadership with a track record of success.
The float on BNC is now, and has always been, irrelevant to the market anyhow. The SP has never traded relative to revenue and pipeline and is solely tied, or more appropriately anchord, to managemnt failures. Had we made the move in Feb my guess is that we would be 3 -4 times our current pathetic market cap.
But, Dear Leader knows best and all this would have done is caused the peasants unnecessary consternation.