IMO presenting a buyout offer to shareholders just to pump the share price is a really bad idea by any management that believes the company is worth a lot more because there is the potential unintended consequence of a shareholder approval of the deal through a vote. Then the company has been given away for a pittance.
Nothing Wayne and the team has done is out of the ordinary for a clinical stage drug or medical device company. There are hundreds of small clinical stage companies all over the world dealing with the same issues attempting to eventually gain approval and commercialize their products. I think the market cap has held up reasonably well for a device that's likely 4 years away from approval. This kind of investing takes patience.
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