Post by
tylerreddick on Sep 27, 2024 7:48pm
Financing
SBM "management" has claimed they have been trying to get non-dilutive financing, but we all know that is a fantasy.
If they are going to do a share issue, it would be nice if they would offer it to existing shareholders, those who have paid the price for standing behind the company all these years. But that is probably a fantasy as well, as Howie will take the easiest route. And if some "fund" or other vulture outfit gets the inside scoop that points to profitability, they will be more than anxious to fill their boots at our expense.
But we need a solid financial backer to get GlycoProtMim to market, because without that, and without Abbvie getting off their keesters, this company is in big trouble. Howie holds a good chunk of our debt, so could take SBM private in a bankruptcy (although I wouldn't want to be the guy trying that play).
Probably the best scenario would be to sell 50% of the net profits from GPM, which would finance a lot of other potential products. Yes, that would cut our potential gain in half, short term, but half of a lot is infinitely better than all of nothing.
For those who have held SBM for years, holding for another year to see where we go is a pretty easy decision, at least for me. I have seen little pizzy stocks like this change people's lives, so don't discount the possibility here. JMO
Comment by
Turtle4 on Sep 28, 2024 3:29am
GPM is the only active ingredient that works really well. Everything else has failed or is selling badly (tfc1067). I would rather wait longer (smaller product launch and possible supply bottlenecks) than give away a high percentage. The big mistake was to hope for high sales of tfc1067 instead of securing funding for GPM with a high upfront or complete sale of the tfc1067 patents.