RE:THEPLAYER LOST LARGE HEREUnless you haven’t owned this for more than a week you have lost
money on this as a long. For us conscripts 2.98 to .50 is the
hard numbers. We believe that PL’s over optimistic time lines allowed
Prometic to buy us with an over inflated share price. A one year delay
is 100 million of additional burn before we start having new sales.
But beyond that there is a “we don’t trust him anymore” discount being
applied because of PL. If you look at most companies with terrible
stock performance, the guy in charge offers up a resignation.
We are in the financial equivalent of the “off with his head” of old.
The quarterly burn is 20 to 25 million and we have to borrow this
money so we have no cash notwithstanding that B17 believes
PL’s spin that a loan is cash. Cash comes from profitable sales or
offering additional shares to the markets , full stop.