Again, the offer documents states PHs holding will be capped to...

Again, the offer documents states PHs holding will be capped to 19.9%. Thats a very long way from this 51% you keep banging on about. At least try and stay with some fact.

Personally, i would like it if he were allowed to take any shortfall. To me securing the target amount is a very important goal for the company, as it gets the entire pipeline progressing. And that is what a drug discovery biotech needs. Future potential value of this pipeline will outpace dilution now. Particularly from this low market cap.

Sometimes you need to look to the potential future of the pipeline and secure that. And thats whats being done. Contrary to your belief it is not an easy market to squeeze more money from. Particularly when that money amount is close to what the market values the entire company at. PH does not control the market. Risk is on the nose today, where it was embraced when you made your money on IMU. Times are different, and because of this, strategy needs to adapt to the market conditions now, not what they were back then.

PH is not this boooggy man that crashed the worlds bio technology markets. He is the fella that sourced some kick @rse novel drugs, and matched them with some highly experienced drug development brain trust. He was the enabler. You, and I have held onto his shirt tails and made some good coin. But the decision to buy or to sell has always been ours. And always will be. If those decisions haven't worked out, they are entirely our own fault. Just like with any other investment we have ever made. We need to learn and move on, and look to the future. Lamenting and creating fascicle scenarios up about why we are where are helps no-one. Particularly when a look at the broader market segment or even a cursory read of an announcement shows we are wrong,