biotech ventracor on life support , page-17

JD - The board must acknowledge these difficult times and act to curtail expenses.


Indeed! The trouble is, there is precious little evidence of them curtailing expenses such as CEO salary, which is excessive compared to other, similar companies. They might be cutting a few expenses here and there but they are not cutting where it matters.

Without a wholesale change of board (and management), the company might very well survive - but at what cost to current holders? In order to raise funds now, they will have to "sell the farm". No doubt they will protect their own salaries in this process, but current shareholders are likely to end up with peanuts.

The ONLY way (IMHO) for current holders to get any kind of decent return on their investment is to proceed without dilutive capital raising. The current board has (more or less) flatly refused to even consider this option.

For current holders, I believe there is now no option but to dismiss the board.