biOasis Technologies Ord Shs V.BTI.H

RE:RE:RE:RE:RE:RE:RE:RE:RE:Forcing Bioasis to Answer

[emmitfitzhume]

5 weeks ago, BTI was about a 12.4 million Canadian market cap company, now it is a 3.4 million Canadian market cap company, that’s a 27% drop from its former value on the announcement of this deal.  According to the terms of this deal, we will then own six percent of this new company, of which BTI assets are valued at just 3.4 million dollars as of close of market today. 

As this simple guy sees it, that means that BTI shareholders percent of potential profit off XB3 success in the future just got knocked down to 1.62 % of what you owned 5 weeks ago.  That’s a 98.38 percent dilution of your Biosis interests from early December.

POF, this is why we are not excited about the great potential of Biosis going forward, as it means we lose greater than 98% of our upside from where we were 5 weeks ago.  Please tell me where my math off. 

How Evans and Evans can look at this deal and conclude that it is fair for existing shareholders is beyond preposterous. 

Why would we not be better off taking a measly 50% haircut with a 12 million dollar private placement for example?   Seems like a much better option to explore, no?  One of the benefits cited by Evans and Evans for this deal is of course getting uplisted to the Nasdaq giving us better capital market exposure….really, ask the Midatech shareholders how that’s working out for them….
 
“h. A NASDAQ listing may open the door to new investors and larger amounts of funding than is currently available to BTI as a TSXV listed entity. Management of BTI noted that certain investors in the PIPE Financing had been previously approached by Bioasis and declined to invest in Bioasis as a TSXV listed issuer.” 

Page 400 of IC, from the “fairness report”

To reiterate JD's question POF, is this lost on you?