TELESTA THERAPEUTICS INC T.TST

We must demand a dividend....

[rusty4998]

As shareholders we must demand a dividend as part of the sale of the animal division.  I personally want AT LEAST a 50 cent payout per share.

[HighteawithIntrepid]

Rusty BNC has $60M in debt/repayable loans. So I expect them to pay those debts. By paying those debts our burn rate drops by the interest on those loans.To the extent our debt includes the 15% loan and $3M a year in interest. At 5% there is another $2M payable on the other 40M. Or about $5M so our burn would drop.$400K a month. Now if we then get the VMC turned into a VMP and have some sales

[rusty4998]

Sorry, I want the up front dividend.  Otherwise it's just the same old sheeeet we've been experiencing for years. 

[Nohandledzep]

HT... What about dumping McRae and getting an immediate 5 bagger on the basis of that decision alone?   Then work on a 20 bagger inside of 18 months, selling the parts off. It beats another decade of failed prognostications and pleas for just a bit more time.   I agree with Rusty, it is more than evident that every dime of the AH sale left with Bioniche is a dime burned.

[CorporateStooge]

HT....your mgmt apologetic blather does get annoying.... We as shareholders deserve a dividend for the sale of a part of OUR business....period. Handing McRae $100-150M to do so as he pleases is like handing a recovering crack addict a glass pipe.  The GW response to the AH sales announcement hits all the right nails squarely on the head and shareholders (new and old) deserve answers to those

[HighteawithIntrepid]

Zep I don't agree but that is what makes a market. Your still welcome to join us SWNE

[DryBones]

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[HighteawithIntrepid]

Dear CS You appear to be in GW's camp, but since they picked up the Fonds shares on the cheap, but didn't bring a cheque book to pay off our 15% loan boys what good are they. The votes for selling will outway the votes against, when the time comes for a vote. Just think of "short" sales and one of the three stooges and the light might turn on for you. HT  

[cheapinski]

I agree with the Corporate Stooge, Mr. Drybones....and I see your point. But I think that a special dividend  would let many here recoup some of their losses.......and thats not a bad thing.  I dont have faith in Santa and company to lead us out of the wilderness, and a "special" divi might be the once and only opportunity for shareholders to reap ANY benefit out of

[HighteawithIntrepid]

I went and hit a few white balls and figured out where we diverge. You think were going to get $125M and at that price a .50 div is OK by me. I just think we will walk away with only $75M and it will all go to debt and getting the VMC GMP approved and cash to carry on. Sell the VMP as phase II or sell a portion of Urocidin and maybe we get a div. But I will gladly buy you a beer if we get $125M

[HighteawithIntrepid]

The 15% loan boys: Does this explain where I am coming from: They've got us by the short and curlies. We have no choice but to agree.

[blartar]

And WHO was the genius ceo who made that 15 % deal ?

[Nohandledzep]

15% HT ... Precisely why your CEO has to go.   My team sent out a gang of  drunken sailors, each with multiple delinquent child support payments and multiple assault convictions, none could find a loan above 12%.    McRae, Ford and the whole lot should have stepped down after trying to sell that to shareholders with a straight face, and then throw in 2% of revenue to accentuate

[DryBones]

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[HighteawithIntrepid]

I don't know about you but I don't worry about the rate of interest on my mastercard bill because I pay the bill in full each month. I don't think Graeme was to concerned about the 15% loan boys because he counted on endo comming through with a milestone payment to pay it off ASAP. They didn't and were scrambling to keep going. We are where we are so unless GW is bringing money

[Nohandledzep]

HT...nothing makes  you a bigger joke than  continuously deflecting McRae's errors. So McRae accepted a 15% plus 2% of revenue loan on the basis that anENDO milestone might be coming? As if somehow the interest rate was irrelevant, as milestone  money might be on the way? Did he have the luxury of flippantly signing for Cosa Nostra level interest rates? Did McRae have a history

[HighteawithIntrepid]

No need your going to loan them $25M at 5% right.    

[Nohandledzep]

HT it isn't my role to loan them anything.   That is why they have their CFO and the number of VPs that they do, and particularly did at the time of the 15% + 2% of revenue loan.   HT I think you mentioned that you were a retired accountant of some sort. Were you around inthe early 80s when15% was commonplace?   Based on your "we got screwed by Endo " logic they might

[HighteawithIntrepid]

Zep I am not desperate to avoid a meeting, I have no meeting to avoid, I had a meeting remember, it isn't my problem that GW declined my invite. So we wait, review our emails and pick up a little stock here and there and look for ways to entertain ourselves with DimSum and his high net worth. I believe it is GW's move in this game of chess that plays out before us. Until later HT

[rusty4998]

I'm tired of just maintaining the pay and perks of the management and employees of BNC.  It's time for shareholders to receive a substantial payout.  I want a substantial dividend from any sale of the animal division.

[DryBones]

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[rusty4998]

Drybones, yes if a dividend is paid then all holders of the shares will reap some of the benefit.  Do you want us all not to take a dividend because McCrae will also benefit?  Sounds like cutting off your nose to spite your face.  Give me a dividend!!!!!!

[thechief9]

HT,   Sorry but I don't buy your theory. In putting the horse before the cart, if Graeme really believed that we would be receiving an Endo milestone payoff, when did he expect that to happen? Why were we never given the criteria for those milestone=tone payments and the amount, where we could evaluate the expected timeframe and possible survival ourselves? Too much suspicious activity

[rusty4998]

Well said Chief9.  I fully agree.  A question for the board.  Did BNC somewhat recently receive a buyout offer which was turned down by management for being insufficient?  If true, wouldn't you all have liked to at least known how much that offer was for?

[DryBones]

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[thechief9]

Rusty, Yes I would have not only wanted to know the amount of the offer(s), but I also would have wanted to know that there was an interested party wanting to make such a pitch in the first place. That NR alone would have done our share price some good. If the offer(s) were indeed too low, then Graeme would have had our full support for their refusals. In my honest opinion, I

[beechguy]

Rusty. The only reason we even know anything about this even now, is because the veil of secrecy was forcibly lifted by GW. You can question their motives all you want, but they have forced Bioniche into opening up the "Kimono". If not for them we would probably be in .15 range without a word from Bioniche, no idea of the 30 suitors for Urocidin and 3 written offers for AH, and

[thechief9]

Art,   I think we are both in agreement that we will likely not see a single penny of dividend as a result of sell our AH division. We all have ownership in BNC and therefore own the debt too. Creditors have first dibs so we common shareholders must get in line. Whatever little is left over is handed to the mothership and unless a dividend is preapproved, we will likely see nothing

[cheapinski]

totally agree with you Beech but I hope that GW gets a court mandate for a shareholders meeting ASAP....I'm f'n tired of the same old Santa Claus parade. BTW, the "opening up the kimono" was particularly narsty!!! lol cheapie

[Nohandledzep]

Chief...if there is a dividend it will more than likely based on what the estimated cost of the 51st vote is.   If the algorithm says 15 cents gets them over the hump, than that will be the dividend. If they are confident that they have the votes they need without having to issue it,  then you can forget the special dividend altogether.   The question is now a month old...Are

[thecat777]

As I remember it Graeme knew early in 2012 that recruitment was not going well; that no final recruitment milestone would be coming, and that he needed to negotiate with Endo for the return of Urocidin. With Urocidin's future in limbo, no one but CR was willing to put up money for a shaky company with an unproven cancer product.

[DryBones]

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[terr2]

I have complete faith in GW and his lawyers. There are just too many misgivings and questionable decisions to with hold purtinate info from the share holders.

[thecat777]

I think Graeme admitted that they knew early on that the recruitment wasn't going tomgomwell. They obviously had a pretty good idea prior to the loan as they had at least a year to monitor how it was going. 

[Nohandledzep]

I wonder who else knew Cat...did the investors that dumped 75% of the Aussie float know? You know, the ones who had to sell due to the Australian liquidity crisis.

[DryBones]

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