It depends on your timeframe and buy in price. If you're in at 0.2c, a quick exit at 0.3/0.4c would be a good result. If you're in from much higher and waiting on a biotech acquisition, I doubt it would be appealing. It's also worth considering any potential suspension for re compliance due to a change to the nature or scale of activities.
Whilst I doubt the board would go for the hedge fund offer (assuming they're hanging around to keep their jobs), you can't totally rule it out. The company is obviously attractive as a back door listing trading below cash with due diligence flagged on three opportunities including one nearing a term sheet in the March update. Hopefully one of these translates into a deal in the short term.
There are some hot areas in the biotech sector at the moment that could result in a large share price move if the timing is right but may not be good long term choices. Alternatively the board might go for an investment in something the market has no interest in.
As for the RAMcap letter, it appears they've done well over the past couple of years. Their website relates to some gold investments they've made. Whilst they may have done well, gold stocks won't go up forever and it's unknown how they will get on when a new strategy is required. They may have taken a hit this quarter as many funds would have done.
I don't put much trust into comments like these in the RAMcap letter "to join RAMcap with its investment of $200,000 ...................... In the Optimistic scenario of our Stairway cashflow forecast we have forecast Stairway funds under management [ FUM] growing to $269million after 5 year."
FTT Price at posting:
0.3¢ Sentiment: None Disclosure: Held
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