H.C. Wainwright presentation this morningNot sure how many of you listened to this presentation, but take a listen around the 27:00 mark.
Adams was talking about Integrasyn and scaling up batch production. Here's what he said:
"This is a very very expensive step, so unless we have a particular need for the final product, we may chose to delay this until such a time that we or another person needs this pharmaceutical grade product".
Wait. What? Inmed has spent literally years of time, tens of millions of dollars and tons of resources to reach this point and all the sudden they think that "scale up" is too expensive??? He said a couple of years ago that people were beating down his door for cannabinoids and wanted to buy them in buckets and now all of the sudden he is just going to delay scale up? This makes absolutely no sense. There is a WIDE OPEN market for cannabinoid testing and if they have figured out how to optimize the pathway with Integrasyn, then they should be receiving purchase orders daily. This makes absolutely no sense.
He is basically taking away the only path to revenue for Inmed.
EB and Glaucoma are 5-7 years away from potential monetization.
This is a real curious move on his part. Guess we now know why he jumped at that $4M placement recently - he knows when the next time comes around for a cash raise, he may have to dilute 50% because the sp will be even further depressed. As a stock holder, I am outraged...