Just a Small financing vs CFO Ford DisasterI'm sure it's worth repeating for shareholders who still consider giving their votes to Graeme.
Jen Jenny called this more than 30% dilution at almost all time lows as just a "small equity financing".
Clearly this implies that the thing is not really important, some minor event, will not last long and be forgotten in no time, just a small equity financing .... nothing more.
BUT wait a minute, according to CFO:
In response to a shareholder question regarding the Company’s cash needs, Bioniche Chief Financial Officer Brian Ford responded via email with the following:
“As we have reported in the past during conference calls and at the AGM, we are acutely aware of the need to refresh our cash resources. At present, we have plans in place to bring in new funds to satisfy our short- and long-term requirements. None of these plans involve dilutive equity issues, which, we are sure you would agree, would be disastrous for our shareholders at today’s prices – even for very small amounts of capital.” (Emphasis added)
Email to a shareholder from Jennifer Shea, VP Communications, Investor & Government Relations, Bioniche, on behalf of Brian Ford, February 8, 2013
BNC shares closed at $0.28/share on February 8, 2013. The pending equity raise has been priced at $0.29/unit that includes one share and one half warrant.
It's funny, isn't it? Our in-house Fraud High Tea I'm sure has exuse for this embarassment too.
By the way, High Tea on this public forum was called a few times as a
FAKE CANCER SURVIVOR who presented himself on the AGM in person. Quite serious stuff.
He apparently tries to ignore this issue.... so cancer survivor or NOT?? Just askin'....
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