I've come across few companies, including highly speculative...

I've come across few companies, including highly speculative companies, that treat SHs this poorly!!!

Nor can I agree with your comment "why buy in ... ". Many people, including me, believe that research in medical science as a social and ethical thing to pursue. However there are those who wish to achieve something else, as Dropper (post 34821888) above correctly points out.

Also if we lived in a world of perfect information then no one would put money into Biotron given their history. Since we do not live in a world where information is perfect not even the most extensive research will give you the full picture. Thus, investors carry out their research on what imperfect information is available and thereby make their decisions accordingly. Even the great investors like Warren Buffet; and as Cullen Roche points out Buffet's model of investing depends on elements of luck. [See Shawn Langlois 14 June 2018: www.marketwatch.com/story/the-greatest-investor-of-all-time]. So to conclude, I dismiss entirely what you say as rhetoric and non substantive.