I think Steadfast tried to bring some perspective to the chatter, and I’d like to add to the “reality” of this situation. First off, Ray Matthews doesn’t want to get into any kind of legal tussle around his behaviour behind the scenes of this company. MS is right about the record that can be raised around that trading activity, and if a block of SVA shareholders decided to bring the company (board) to account, the lawyer costs would be considerable (even more that what it cost to go after Shapiro, which was enough of a distraction) and people would have all kinds of nasty secrets exposed.
Next, anyone here can “test” what’s going on in terms of trading manipulation by simply putting up stink bids with 30 minutes or less left in a trading day. The volume of fishing going on between houses likely by one, or at most two parties, is on full display virtually every day this summer. So let’s just accept that the folks who prey on less sophisticated investors of the venture exchange know about the SVA story as well.
To that point, if you currently own more than half a million shares, Phillip knows you are in this story for more than a penny. You made your bet with the expectation that the payoff would be substantial. If you are worried about price deflation because there isn’t enough buyers, my advice is sell anyway. Try and push the price back under a dollar, with “try” being the operative word here. Can-o-worms won’t be letting that happen any time soon…they’ll just pick up more shares at less than fair value.
Lastly, the moral and ethical record of the people responsible for running this company is somewhat tangential to the results they’ve been able to achieve, but not the table centrepiece. We want leaders who can size up the counter-party and still be able to stay on the correct side of the line, while knowing full well that whoever we “collaborate” with, from Cana-stuff to Medtronic are prepared to squeeze the bejeezu$ out of every SVA shareholder. If you own, you are ON the SAME team. As SBD pointed out, we can be critical, must be critical of the many historical missteps, and, there is no “careful” way out of this. I thought the big boy/girl pants would come out in June pre-AGM. Maybe the fall will bring about a significant wardrobe change on this gossip board.
DF