accumulation at $1.10, page-2

I bought more today at $1.10, although the volumes I'm buying now aren't impressive.

We can't all be Peter Cook, and get half a million free shares for being a financial wizard.

Unfortunately once there's more cash than they can spend on themselves, Biota's management become the biggest financial wizards in the biotech sector.

To avoid the complexity of paying a dividend, and raising the expectation of investors, they threw millions at expansion into America, and a court case against GSK. When it looked like they could win the court case, and $100's millions, Peter begged GSK to offer anything so he could settle.
He was treated like a hero by his fellow board members when he snatched failure from the jaws of victory, and even managed to settle for $10's millions less than the legal costs.
That drove the share price to new lows which was a perfect opportunity for management to act against the shareholder vote and set up the LTIOs (free shares) for Peter. All he has to do now is let the share price rise to close to where it was before he became CEO.

Last week's announcement demonstrated he can't even do that.

Biota tell us that the biotech sector doesn't usually pay dividends. The buy back gave me nothing, not just because I'd have had to sell to make money, but because at the end of the buyback the price plummeted anyway.
If they feel so uncomfortable running a company that has a product (so old it's almost at the end of it's patent life) that has and will generate $100's millions, why don't they piss off and run one of the hundreds of other biotech companies nowhere near making money, into the ground.

If the CEOs of CSL or COH said they'd like to reward investors but "it's simply not done" in the biotech sector, they'd be hanging from their giblets at the gates of main office.

This is a AAA investment opportunity run by a barrel of monkeys.