biOasis Technologies Ord Shs BIOAF

Lessons learned:

[prophetoffactz]

What lessons have we learned?

The biggest reason often cited for business failure is undercapitalization. Given the nature of biotech with its high burn rate and long time horizon to cashflow undercapitalization can be particularily risky; particularily due to the very fickle nature of financial markets which can be 'on' or 'off'. Generally two years worth of cash and no debt is the gold standard in biotech to cope with all of the financial risks. Being a severely undercapitalized preclinical company, not in control of its own story, and with significant debt in the worst biotech market in history, is the worst of all possible worlds; especially with partners sworn to silence.

When Mark Day couldn't raise the US$10 million to properly capitalize the business, list on NASDAQ, and let the company control its own destiny that pretty signalled the end of it for shareholders looking back at it. Hutchison couldn't get it done either. We had confirmation of a serious problem with Mark Day.

Rathjen also tried to raise money and couldn't properly capitalize the company either further confirming BTI's financial predicament. BTI couldn't control its own destiny. NASDAQ was dropped from BTI's ambitions. Rathjen was also forced to swear off dilution according to jd handcuffing her to a permanent state of financial emergency and a stock few would touch because of it. The company and its shareholders were living in state of denial not with a properly capitalized business plan that could move forward.

The company lived a hand-to-mouth financial existence, in a state of permanent financial emergency, couldn't advance to an IND, and took on increasing debt thereby living off its credit card, in a sense. The markets also went very fickle as we entered the worst bear market in biotech history. The Crecense deal was tried to transform BTI to a clinical stage drug company and an option with J&J was signed, etc.; but a company with a long history of being unable to properly capitalize, not in control of its own destiny, with increasing debt, and in the worst biotech market in history was not interesting to the market.
  
Like a cancer patient who ignores the early warning signs BTI's financial emergency grew worse. It often takes a crisis to shake people to do what's always been needed for their proper health. Forced to bite the bullet once and for all BTI is only now trying to pay off its debt, properly capitalize, create a more advanced company of interest in today's market, and pay off Ladenberg Thalmann for the assistance in helping raise the US$10 million Mark Day needed long ago with interest, in a sense.

[narmac]

Hummmm,,,,,were we not told our business model was to make deals which would capitalize the 001 trial,,,,,and then it was ,,make deals and to partner on 001?,,,,,, if you are not capable of making deals to the extent required,,step down and pass the tourch on,,,,,! Where did the money go that lead to the amount of debt incurred? Were we in the lab? What doing?,,,In others labs??  Our

[prophetoffactz]

"Hummmm,,,,,were we not told our business model was to make deals which would capitalize the 001 trial,,,,,and then it was ,,make deals and to partner on 001?,,,,,, if you are not capable of making deals to the extent required,,step down and pass the tourch on,,,,,!" The viability of the licensing model ended with Hutchison who ended up talking about a Phase 0 trial as a way out of BTI&

[Boomskid]

A Phase 0 trial would added wasted time to the years of already wasted time, poof. I cringed over that one. Kept quiet, though. Should have screamed. jd

[prophetoffactz]

xB3 non-human primate data for eight drugs as Mark Day planned combined with Phase 0 imaging data of a human brain demonstrating consistent biodistribution in the brain from rodent, to non-human primate, to human brain across more than one drug would have been leaps and bounds over anything we've seen. It would have also demonstrated BTI could execute its own buisness plan and move forward

[Boomskid]

Where did it go, indeed, poof?  I contend that the death of Bioasis was caused in 2014 and 2015 when the share price was as high as $1.50, there were around 50 million shares outstanding, fully diluted, and the peptide had just been released.  Money could have been raiseed. The share price went over $2 in both 2012 and 2016. The oustanding shares, fully diluted, in the annual reports

[narmac]

,,Hummm,,,well,,if the shareholders here would show solidarity we could organize to a degree where the future could be what we make of it!!,,,Where are our large shareholders??,,, do we have a couple of large enuff holders who are willing to make a base camp to make a laymans plan?,,just thinking!! Nothing more bizarre than real life you know!!!

[prophetoffactz]

The problem is shareholders have had a decade and multiple management teams to get behind and finance a plan. Hutchison folded unable to advance. Mark Day's non-human primate, Phase 0 trial plan couldn't find financial support. Rathjen was handcuffed and undercapitalized. The market didn't respond to the Crecense deal which sought to transform BTI to a clinical stage company and

[Boomskid]

There's a lot left out of poof's story, stuff that he couldn't be expected to know. Some of it is rather bizarre and maybe it can be discussed or revealed someday. I can't reveal it. More important than capitalizing a company with loans and equity financings is a notion that has been foreign to Bioasis - DOING SOME BUSINESS! Deals! The question is whether there were deals to be