Regardless of this 'reverse buyout' it is still frustrating that after more than 2yrs since all the approvals for the cosmetic grade collagen were granted, Colltech has still failed to make any significant sales.
Who the 'bloody hell wants ovine collagen'? The market seems to be happy with collagen from any other 'cheap' source.
With 97M shares issued at IPO these additional 770M shares will bring the total to more than one billion. Thus IPO holders will have had their equity diluted to one tenth.
worthless, page-4
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