RE:Only hope is YOFOTO. or Second LOI by others.....Baldstock:-
I don't think anyone on the Board of Directors should be allowed to vote on this proposal. This is one big conflict of interest. For example, does anyone really believe that Jamie Mackay with a little more than 10 million shares (15.44% of the float) will be content to receive 8% of 15.44% (1.23%) of any revenue generated ('after expenses') from sales and/or royalties?
Four of the other Directors also have between 300,000 and 900,000 shares (Buckler has only 6,808 shares). I do not believe that there is any way these Directors would approve this deal unless Andrew Schutte is going to 'look after them' after the spotlight has been turned off. I believe that the '92%' includes a portion which will go to these individuals.
I have reached out to YOFOTO's Larissa Huang (a former Replicel Director) in an attempt to get her position on the offer. I await her reply. YOFOTO is in a more complicated situation as I'm not sure how the success or rejection of this offer might affect their efforts to conduct the tendon trials and the introduction of the dermal device in China. On the other hand, they have about 6 million shares whose potential value upon acceptance of this offer will be greatly reduced - unless they are also part of the '92% Club!'