RE:RE:RE:RE:Real World Math Doesn't Apply To Algernon Pharmaceuticals My apology for the name calling.
Follow-up for "arguments" sake. Let's say you are right about rhe likely explained to you by management interpretation of the SEC filing news release.
The average person reading that news release would most likely come away with the same conclusion I did regarding the math.
They already state the money will be used to include Phase 2a. Thus, going back to your argument, you make it seem as if they are valuing the compnay only at Phase 1 of the process.
I don't interpet it that way as explained above.
Here's a thought. Why not simply value the company at 27M upfront - which then clearly aligns the math with offering upwards of 40% of all shares (I think it's 37.5%) to be exact?
The way the news release is written to get to your conclusion requires Acrobatic Mathematics for the average investor to understand.
You can't tell me Algernon could not rework their numbers because they proved they have no problem coming up with number like 65% this or that or whatever they create out of thin air.
Capeech...Ground Control?