RE:RE:RE:RE:RE:RE:RE:RE:Institutional investor
Canadafan,
It is very unlikely that you will see any record of Anson holding shares in ONC subsequent to their latest reporting. You have to be very naive to believe that Anson has acutally invested about 15 million (CDN) in a lousy little biotech like ONC.
In the good old days, a small cap biotech would raise capital in an honest fashion though an offering, inclusive of a prospectus on each occasion, usually once every two years or so. There would be a consortium of instituions who would pick up the offereing at a slight discount to market and then peddle them off to their clients. It always hurt the share price in the short term but it was an expected course of business.
Then someone invented ATM's.
With an ATM, ONC would issue a long standing prospectus and then invite someone like Canacord or (even worse) Lincoln Park Capital to sell a prescribed number of shares into the market every month. Essentially, LPC would be selling shares short every month and then ONC would issue shares from their treasury (at a discount) to cover LPC. It was a steady stream of cash for a lousy little biotech like ONC and it allowed them to continue to pay very generous salaries to management for a number of years.
Then along comes Anson. (The following is specluative and my opinion only).
IMO, Anson saw an opportunity to short millions of shares of ONC during the months of June and July this year. I believe this likely invloved a bit of wash trading on the busiest days to excite naive investors. In August, they want to cover their short position and they approach ONC with a tidy little sum of money. ONC jumps at it and issues shares from treasury at a heavily discounted price. The reason Anson shows on record as owning these shares (for now) may be due to shorting in different acounts. By the next accounting period Anson will have disappeared completely from any investment in ONC.
Of course, Anson could only have success with this due to MC's epic failure to do any due diligence on their offer.