10c on the Horizon, page-179

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mcexplorer

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01/11/18

09:05

Post #: 36345179
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Originally posted by Idontlikeworkin ↑

Fiddy84 you have missed what the company is trying to achieve in the immediate future. You are correct that phase 3 will take time, and it does appear on current trend the stock may continue to slide. But BiT is not trying to move on to phase 3 alone. It needs a partner. And needs it now. The wave of FOMO already has people stuck as high as 44c with a nervous wait, and a few posts here would have no luck in recreating that.

I have now changed my sentiment to hold (instead of buy) as it may be worth waiting in the very short term, for a better entry price if they do not already hold but at their own risk. We are discussing a company that has announced positive “significant” phase 2 results, withholding some elements of the results while it shows them to possible commercial partners.

How long does that take to come to fruition and what will that do to the SP? DYOR on that and you will understand why holders and believers have excitement.

I would suggest the company has long been in discussions with big pharma, and just waiting for the study to be unblinded and results to be fully analysed to start negotiations.

With MM heading to the states in the next week or so, and the full data expected to be released in a journal in December things can move quickly from here.

In the background we have the issue of underwritten shares. There is a company (CPS)with a vested interest in keeping the share price low to minimise the amount of option OAs exercised so they can swallow them at 6c. The spike played beautifully in to their hands, if not in part created by them, as many people at holding OAs well above the current SP and so may not want to stump up another 6c after buying for eg.26c and who would blame them.

So yes the price may drop until that issue is out of the way, unless that is countered by those understanding how close to a deal BiT really is.

I’ll be topping up if it hits that bottom, and always maintaining a strong holding.

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Yes. Agree. That is the most likely reason why SP keeps sliding. The more BIT delays to making ANNs about partnership progress, the more likely SP could slide a little bit further. Patience is a key.

BIT Price at posting: 14.0¢ Sentiment: Hold Disclosure: Held
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