RE:RE:RE:RE:RE:By and large Great post as usual MM. You are spot on the money even if Spectral management and governance aren't.
Or are they? If deals already lined up with Baxter and perhaps DaVita then no need to do a Nasdaq listing. Why bother if the range of proceeds have already been defined? And all signs - in spite of encouraging words - point to no listing actually planned to be done. But may as well keep them guessing.
And placing the future in purgatory is a stroke of genius. Telling the unwashed masses that nothing will happen until it happens virtually ensures the share price stays constant until they make something happen. And at these share price levels future options remain cheap. And no pressing reason to exercise existing options since they're out of the money. If they got to the strike price they'd have to be exercised so gains taxed as capital gains rather than full income inclusion. But until then you just keep your after tax income ready for deployment.
And the peripheral players and semi insiders can also enjoy the same benefits with new raises. I see huge benefits for the insiders to a low share price and no "catalysts" in the short term in spite of suggesting there is no benefit to them. Who says mediocre performance doesn't pay?