ATH 0.00% 0.3¢ alterity therapeutics limited

Issue of shares released today

  1. 8,213 Posts.
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    I would like to lay down the following facts, so buyers/holders can make an informed decision. People thinking that the shares issued today to BNYMC will be sold tomorrow are extremely naive and misinformed IMHO.

    - 137,945,160 shares were issued in May to The Bank of New York Mellon Corporation (BNYMC) at 2.5c, giving an investment of $3.5mill by the BNYMC. SP was at 2c at the issue date. The Bank has continually provided ATH with funding throughout the years, as they currently hold 560mill shares, and hold 55% of the company.

    - Life Biosciences LLC have invested $11mill at 3.9c last year, where SP prior to this announcement was at 2.5c. This gives this biotech fund a holding of 33% of the company.

    - These funds truly believe in the SCIENCE.

    - One particular reason that ATH went up 1000% is because BNYMC and Life Biosciences hold 88% of the company, so there are limited shares available. It would be dubious to suggest that a company would rise 1000% if the two main entities holding 88% of the company were selling.

    - Today's issue of shares is minimal compared to BNYMC's accumulation of shares throughout the years in ATH. What investors need to understand is that the BNYMC constantly accumulate a stock and do not sell. BNYMC or Life Biosciences have never sold a single share on market, and my thesis is further proven by the company releasing no change in substantial holding today.

    - It's also worth noting that the BNYMC have also accumulated another biotech stock, IMC, by buying on market. They buy through Goldman Sachs, as the broker data suggests that Goldman Sachs have bought 7-10mill on market without selling a single share last month.

    I would recommend people to do some research on who the BNYMC is, and what kind of investment decisions they make.


    Lastly,


    https://hotcopper.com.au/data/attachments/2265/2265685-48441a0aecbab543384bafdd3084f632.jpg

    Last edited by dazatoN: 01/07/20
 
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