Question of the day
With due respect to PLI shareholders who want to wrap this up post haste I think that Telesta shareholders still have too many questions. You'll get your 2 pounds of flesh for the cost of a pound soon enough . some questions hould be answered beforehand though
My question today is this: As the company and board have now determined that MCNA and the nearly 150,000,000 invested in it now dead and valued at worthless in this share swap, will the company disclose how and why we have reached this point? Owners of the asset have not been told anything. really nothing more than a second 5 year Phase 3 trial is required and we don't want anything to do with that. No on else does either. That is not good enough. especially when we all suspect that management will walk away 100% whole with their severances. Packages that were based on exorbitant salaries for a micro cap while leaving a P3 asset on the shelf to die <or possibly re wired for a second PLI driven P3 in 6 months when all this bruhaha is forgotten>.
I think that I read that a independant party will tell shareholders that passing along 50 million dollars in tax credits, 2 manufacturing facilities <1 GMP certified> and the full suite of MCNA material is fair value at 8 mil. and it just so happens that it was with another Quebec biotech just down the road in Laval.Looks more like the deal that required the least amount of work/ travel and salesmanship by management and the Board of Directors. just doesn't look anything like the best deal for those who won't be receiving mighty generous settlements but will be holding the bag. No one blames PLI or their shareholders for this arrangement. any company would take advantage of a deal this sweet