As Garner delightfully outlines in his piece today, PVL will essentially charge PER a fee for it to buy and sell bio-tech stocks PVL chooses, under the guise of a management fee. PER will instantly trade below NTA as it values the fee load. AND PVL isn't even good at this sort of thing itself, it trades below NTA as well , hahaha. By all means happy for someone else to try and find a good use for the $18 mill while PER trades below cash backing , but this is insulting , fees on fees on fees with PVL the only potential winner , and especially given current management looks very good to me.
But the reality is with Gennadi (still emotional about losing his $165k a year & co-investment gig with Diamond) voting with PVL means it will be a very close thing if PVL buys another 10% on market. Of course none of this would be happening if PER was above 1.4 cents, but with 850 million shares having traded at 0.007 its very very hard to get the share price up until instos take an interest , too many short term traders in the money flipping , and instos won't buy until the vehicle is stabilized , catch 22. I will try and buy a few more myself 1 cent or better
PER Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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