A Way Out? Many posters ask what the biggest threat Bioasis actually is. It's money, of course, but money can be found, and there is a good argument for investors to lend it.
In my opinion, the biggest threat to Bioasis in the past four years, since March 11, 2019, has been Dr. Deborah Rathjen. On March 11, 2019, the share price was 35¢. It was 55¢ on January 28, 2019!! Since the internal squabbles started in early 2019, in which DrDR was central, Bioasis has lost 96% of its value. Why?
In my mind, the question is whether DrDR is such a threat because of incompetence or because she's pursuing her own interests. But otherwise, she's been at the helm every single day since she was
appointed executive chair on December 10, 2018. The collapse of Bioasis since then has been spectacular.
Bioasis, through DrDR and IR, has continually stressed that there is no problem with xB3. I hear that she has explicitly answered my questions about potential off-target delivery of xB3 payloads via the LRP-1 receptor. No problem, nothing wrong with xB3, she says.
So why, then, I whisper, has xB3 been played down and EGF played up? Why were 4 LSDs sold for less than a million each? Why have no significant deals been done?
So, if xB3 works, then it's obvious that the shareholders must look at Dr. Deborah Rathjen as the problem, that she has failed to produce value for the shareholders despite xB3 having no problems with it, by her admission.
And if xB3 works, why is the failed DrDR still around?
Why aren't shareholders rallying to their own cause? They could have voted her out.
Shareholders appear to be acting like lambs being lead to the slaughter. There is no passion here on Stockhouse or anywhere else. You're leading DrDR to believe that there is no fight left in you, that she's free to do whatever she wants in the conviction that you won't fight her.
But, again, if xB3 works, then why are you letting her have it?
On April 1, 2023, just over five weeks from now, it will 15 years since W.R. Partners Ltd. announced the closing of the Qualifying Transaction that created Bioasis. The title of that press release stated, "biOasis Technologies Inc. (formerly W.R. Partners Ltd.) announces close of Qualifying Transaction with biOasis Advanced Technologies Inc. (formerly biOasis Technologies Inc.). and the Closing of a Private Placement of $975,000." (You can find the PR on SEDAR."
Bioasis isn't so different today - a company with a promising technology and no money. Why aren't shareholders, at least a couple of them with money, getting together to fund Bioasis for a few months. So what if the funding dilutes Bioasis by 50%? The resulting 50% ownership by current shareholders would still be 10 times better than what another Midatech deal might be worth to them.
And the people lending the money to Bioasis can capture control of Bioasis if it fails, leaving the lenders free to put a new qualifying transaction into Bioasis and make a killing on that.
I don't get it. I and three others did that very same thing one time with a failing junior resource company. We refused to participate in an equity financing. We loaned the company some money, converted the debt to stock after the company failed, took control of the company at an AGM, created a new resource business out of it, and made a ten bagger on the original loan, all within a year or a year and a half.
That same thing can be done today with Bioasis, and if xB3 works, the lenders could make way more than the 10 bagger I made. It's there for the doing.
Why isn't anybody stepping up? At 2¢, It's kind of a no-brainer, folks.
Meanwhile, why have so many of you given up? Where's the passion? Are you thinking that DrDR, just might, maybe, can yet create some value for you? In over five years, she has presided over the destruction of over 90% of the value of Bioasis. You gotta make a ten bagger to get even to where she started!
What's to lose?
jd