I’m not sure what you mean by "overly" voiced disapproval. There are thousands of posts on these threads taking the opposite stance, holders constantly cheerleading everything the company does with unsubstantiated optimism, saying things like, "The company is only going up from here" or "Big pharma will buy us out for multiples," etc. Are they "overly" voicing approval?
For the record, it’s not just me and AndyMonroe who feel this way. The number of thumbs-ups on posts Ive written speaks for itself, along with many others who have expressed shock at the CR timing.
You do realise that getting double the price in a takeover offer now really only amounts to an extra 15%, since you've been diluted by 40% due to this raise. To put it into perspective, if we had been sold for $500 million before the raise, we'd be looking at around 9.2 cents per share. But now, even if they get double that selling price $1 billion the share price will only be just under 11 cents, compared to the 19 cents you would have received without the dilution. So, for that "double" selling price, you're really only getting about 15% more.
I don't think people fully understand the impact of the dilution. You really need to get close to double the initial offer for it to make a difference. And if there were serious deals on the table (which I'm skeptical of, given they gave away 40% of the company for just $40 million) why not do a smaller raise to explore partnerships without giving away half the company?
Yes, I do think the timing of the capital raise was a mistake, but of course I still want the company to succeed and secure those offers in the future.
ATH Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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