RE:JP Morgan in San Franciscobalain wrote:
First off, I was a bit surprised by Fred’s comments coming from the healthcare conference in San Francisco. VERY SIMILAR to those made last year, a success, turning heads etc. We all know what happened since last year. I was also surprised that a common theme was that the Americans don’t understand why we don’t trade on NASDAQ yet. If they don’t understand, we have bigger issues than I thought. Listing at this time would mean at least a 10:1 reverse split, so I have PL and gang to thank for not doing this to us. If they want us to list on NASDAQ, only they can help us by buying large amounts of shares for the long haul. We need to take shorts and day traders out of the equation, and for that, we need sustain buying from strong hands. 45 million shares shorted and not rushing to cover when a favourable decision from the FDA is just around the corner is puzzling to me. We need the American markets to get involved big time because the Canadian ones won’t help us get there. At this time, without the Americans and their health insurance, Prometic is simply an employer, not a company destined for success.
CIBC has been single handedly putting pressure on us for more than a year. I don’t know what the deal is between them and PLI, but it tastes like bad blood. Despite their buy and hold recommendation on the stock, they’ve been relentless at keeping us under water. That story is getting old, and it doesn’t seem like anyone else wants to take them on.
News are pretty scarce for a company that’s got so much going on. PLI is a news driven company at this stage, so if they have anything positive to announce and their new tactic is to keep those news for themselves, I don’t get it. If in fact the FDA plant inspection took place, I assume that PLI won’t hear from the FDA and that is why they are not releasing news. If they were told they passed and are keeping that for themselves, it makes no sense. Knowing makes it that much closer to approval and would shore up the ever dwindling share price.
SRAM. Same here, PLI has been doing business in China for as long as I can remember (at least 2008), CNBG has never produced anything including updates, and now we have SRAM that is supposed to look for partnering opportunities for us in China. As far as I know, the $23 million that was owed to us months ago still hasn’t been received, and the company told me that they wouldn’t issue a news release when it actually shows up, so all we know is that it was received under “accepted accounting practices”. I would as shareholders appreciate to know when the physical money comes in, so that it delays the company dipping into that expensive credit line from our friends at Thomvest. I think it’s important to know, and until we see the 4th quarter results at the end of March, we won’t know. Keeping this information from shareholder is a strange move to me. It might be however be an “accepted” practice...
I have and remain a strong supporter of the company, but our luck needs to change. We’ve never been really lucky with the deals (or products)we made thus far (Hemosol, Tunisia, Brazil, Pcapt filters, CNBG, SRAM, Taiwan, Russia), so a change of direction in getting a few deliveries made would do great for this company, no doubt in my mind. We need a giant Pharma to give us a shot for partnership, a voucher sale and an approval of our first drug for a start. Clinical trials and results have been outstanding, now they need to deliver on the business front.
Cheers and good luck to all who have taken part in this journey
balain
Best post on this site in weeks... No BS calls it as it is, not with the usual pump and hype of late. I agree the "conference comments" were canned and re-used - getting tired of the same old delivering NOTHING.