RE:RestructuringHey Rose, when did Phil have access to the 30 mil plus? You're telling me he is saving that money and waiting for an options plan to be passed 6 months later to start hiring people? Get your head out of your rear (or Ray's). They've had nothing but time and money since Jan and we are still arguing about the same things. No progress on immuno, no hires, no news on collabs/deals. You're singing the same song as the company but nothing to show for it. They still haven't checked with regulators to see if they can fast track thyroid which he says they are going to do in every presentation, they still haven't hired any talent which they've said they're going to do forever, they still haven't done anything with Hemo, no deals, no collabs, no news. If you're OK with all this great, vote for more dilution and the same board. If you're not, do something about it. Even if you can't vote anyone out, when phil sees the number of investors who aren't happy, MAYBE then he'll do something. Probably not because the guys a total jack off and clueless when it comes to capital markets. Hey rose, why don't you ring up your friends at head office and see whos been hired? Is there even a job posting? Probably not, phil is a busy man micro managing everyone, he will likely not have time to type one up. Maybe next year when the competition has caught up. The hare (phil) is too busy snoozing why the tortoise (vertex,VIaCyte, etc. etc.) are all catching up.
Redbaron2211 wrote: I was able to reach out to management.
Focus right now is on expanding the company and building a high caliber team.
Options will be used to attract high quality staff and directors as is the case with every successful pharma company on this planet. This is a very logical step. You have to be competitive and offer incentives to attract talent. Options are not harmful to the current SP and those that want to exit at $2 I wouldn't even worry about it. Sernova potentially bringing in more money at $1.5 while incentivizing new talent to come on is not something I'm concerned about.
The dichotomy to be honest is a bit exhausting; it makes no sense to get mad at management for granting options while simultaneously expecting Philp to magically come out with an A-star team. You get what you pay for and options are a great way of paying for success and not having a team milking the payroll. Because the science is real it will attract talent that see the potential and feel they can contribute.
Anyways I see where the frustration comes from but feel its transitory in nature as this company is restructured and a strong team is built.
Sailboat
"Positioning this as binary of whether we are for or against SVA misses the point and does help answer legitimate questions. Especially on the eve of AGM."
These legitimate questions will be answered in time. The previous staff should be acknowledged for bringing this company to where it is today but that was done on a shoestring budget and the depth of experience reflects that. Now that there is a larger budget and clearer path forward in both the science and business you can look at attracting a more experienced team. Take a look at the RD allocations this is really the start of Sernova as a real company. It's unfortunate we don't get our quick fix but it is what it is. The wild card of a collaboration will remain the hope for a major catalyst while other milestones should help those looking to move on to do so.