agm and the future

The AGM was a small affair with no trimmings - eg the room was only hired for 2 hrs and no tea and biscuits.
An outward sign of the lean machine that IVX is now.
The resolutions were all passed and with that housekeeping out of the way the directors answered some questions.
1. The strike price of the options for directors?
Ralph Craven advised that the final multiplier had not been determined but it could not be less than 150% of the share price and would be substantially more.
2. The outstanding legal action against 4 previous officers of the company.
Not much could be said as the matter is still before the court however the legal costs so far haven't been significant enough to be included as a separate item in the accounts and have been absorbed in general legal fees.
If anyone is interested apparently the copies of the court documents can be obtained from the court for a small fee.
The directors seemed confident of a positive outcome and that the matter would be finished shortly.
3. Capital raising.
The company has sufficient funds to last until mid next year.The next trial being funded by the NIH takes off immediate pressure on funds. There will be a capital raising and shareholders will be included. As to the timing? Couldn't be specific.
4. The directors then explained about the 2 products, the development direction and an estimated timeline for the process.( The information is on the website )
It was good to meet the American directors and hear the background to their drug development.
I had wondered about Nadolol as it is off patent but they explained that simply put the new IP is in the dosage regime for Chronic Bronchitis (Anti smoking drug) and Asthma.
Dr Garner refered to a slide of repaired lung tissue as being a "game changer"
Overview: A highly qualified board with a focused plan to bring 2 drugs to ready to market stage.
I am now confident holding these shares.
P.S.
Sheik - I note you are now a holder of IVX.
If you got them at 0.047c which I think has been a low point then congratulations.
At 0.05c I was thinking that there was little downside in this stock - I don't try to pick tops and bottoms.
At this point I am comfortable with the parcel I have for a long term hold.
Cheers Chairs