Ann: Trading Halt, page-64

Great work.

I need to remind myself of sunk capital fallacy.

If the capital raise doesn’t come with an ironclad "burn our office down if we ask for more money before P3 Topline results" guarantee, I won't be putting a cent in. This is their last chance to come begging to investors for cash. IMHO, they should have offloaded staff, put others on limited retainers, and gone into full hibernation except for handful of individuals needed to manage the P3 trials. But no, it’s been a hiring and spending spree, like it’s other people’s money.

The next time they come asking should only be for commercial ramp-up on positive news.