Summary (Part 2)So any shareholders who bought the rights and did not trade any over the last year and a half are still almost at break even on their rights price BUT still losing money big time on their 'old PLI shares' they bought.
Others have made money buying low and selling high (on those 2 extraordinary huge volume days. (I am still trying to figure out who the 'new' buyers are/were and why they were willing to pay to acquire those shares. I dont believe it is/was price manipulation since the VOLUME on those 2 days were over 1million shares (there are only around 3.5million shares (15% of the 23.4m shares issued) owned by the retail investors) and why they were willing to pay for them with 'no news')
While I understand why there may not be 'new buyers' to boost up the price (until more concrete news and revenue from LMNL), I am ALSO trying to figure out who are the shareholders selling at current price if they had held those shares for so long? But then current daily volume are abysmal at around 40-50,000 shares traded.
So overall, unless there are breaking news that attract new buyers to pay higher shareprice, I expect LMNL share price to linger and range at current prices.
LMNL Financial Position and Near Term Goals :
The conference call on Sept 15, as expected, was mostly about Ryplazim and Fezagepras (known previously as BPI-4050 that the old PLI shareholders are familiar with) and a couple of other research in their pipeline.
What is/was of interest for me as 'shareholder' was 2 slides entitled :
1 - 'Multiple Near-term Milestones Expected and
2- Financial Position
(I have not figured out how to post those 2 slides on here yet)
Whether you believe it or not , I am sure will depend on which group you are in (as described before) but for now that is ALL the information we have, ie what management is willing (and able?) to share with us. Anything else are mere guesses and opinions.
I will add that in the conference calls, 2 things that Kenneth Galbraith mentioned (towards the end of the call):
1 - LMNL will be going through a complete transformation in the next 6 to 18 months.
2 - LMNL will not be looking/needing (cant remember exact words) for 'near term financing'. (He did not define near term, could be 3 months, 6 months, a year? ..)
The rest, I will leave for you to make your own conclusion.
p.s I would appreciate anyone who knows how to , to post the 2 slides I mentioned above.
Disclaimer :
I will likely remain put wtih the shares I currently hold. The last accumulation I made was around USD$10.50 until my ask price expired. Then I tried again at USD10.70 but got none. At current prices, I am neither buying nor selling.