RE:RE:RE:RE:RE:LOCYes, of course, close to bankruptcy. Thomvest & Consonance (the owners) just spent $100M and over two years to address the CMC issues, they have just resubmitted the BLA and are now going to shut it down.
Give me a break Mr. Bailiff and his imminent lawsuit. Your scenario makes no sense. You’re just like the rest of the bashers here that put a negative spin on anything that is published. Do you even own shares, or, are you shorting?
Unless something goes drastically wrong, which I highly doubt considering that they converted their debt to shares, not a move that was taken lightly in my opinion, the owners are here to make money and will support LMNL until they (we) make a nice ROI.
Tar005 summed this up very well, great post BTW.
Lmnl Share Price With the long awaited submission of the BLA, I thought prices would have gone higher. I find it surprising that some shareholders are still selling at or below the rights issue price of CAD 15.21 (around USD11.50) after waiting for so long. These shareholders are basically 'retail' shareholders of the float of roughly 15% of the company issued shares.
It is not surprising that without "New" Buyers/Investors of LMNL shares wanting to buy those shares (like in the last 2 times when the shares 'popped' to USD 31 and USD 24 with volume was over 1 million shares in each of those 2 days) without any 'news'.
I dont believe Thomvest and Consonance are currently trading any of their holdings but do believe they may start divesting some of their shares once the share price reaches their target price (ie there are buyers willing to pay that price and willing to hold/invest in the future of the company). I also think they will keep majority shares (ie >50%) to keep control until they decide to divest themselves of control. Any profit they make on the shares they sell , Thomvest may decide to loan to the corporation as 'secured' loans and reduce their risk.
I also doubt that Thomvest (et al) is interested in buying any of the remaining 15% share float at market price or even run the share price to close to zero to acquire those shares.
Until then, I doubt anything said on this board between the 2 groups (and neither group are as altruistic as they claim to be) will affect the share price, no matter how many insults they throw at each other. I also dont believe any 'new volume' buyers will decide on what is said here.
4Justice wrote: Sorry but you are wrong Aldo. They burn the cash and they had no choice to use the credit margit and they did the draw down. They are not on fume of gaz they are pushing the car. They have no more cash ! The draw down of all the money in the credit margin means they are close to bankruptcy...!!!They have no more than 3 months runway and the market knos that... and futur parteners too. They will wait for a fire sale.