The company story line is in doubt.So what is management really up to. For a year they have maintained the story that they are sosrting out the financial problems of the company, looking for the saviour of a deal, meeting the technical requirements of the FDA and they even turfed Laurin in persuit of those fine objectives.
Sounds impressive, but is it the real story?
In one month they got two separate financing deals with our biggest backer. One with ordinary warrents and the other with a mystery preferred warrents.
But the real deep down problem, if it had been solved, would make meeting financing objectives secondary, And that is the bio-tecnology issue which is made up of 2 parts: one, the controls, and second the FDA approval. If solved, a deal would have fallen into place and the raising of money by selling shareholder equity wouldn't have had to happen.
This is all obvious to the market place, hence a 29.5 cent stock price. It hints at a dark picture for the future of this company when the management doesn't disclose progess on the bio-technology front. A commercial and FDA approved drug is what the company exists for. Without progress in this we are nothing, nothing but a ponzi scheme. I sure as hell hope that the AGM reveals some real progress on what it is that this company is supposed to be achieving.