re: Ann: Letter to Shareholders from the Boar... Maybe what Drona says in the letter is true, but if so he has been feeding rubbish to shareholders for years so as to keep them pouring money in, knowing full well there were serious problems. There is not a chance in hell that he only suddenly discovered there were problems following the last raising.
One of his major selling points for ATC when he was using it to bring money in was that the side effects were minimal. He says in his latest letter that the side effects of ATC are "not as well differentiated" as other drugs. I don't even know what the heck that means other than more ambiguous spin designed to pull the wool over the eyes of shareholders.
I think there are elements of what he says that are true, otherwise partners would have been falling over themselves to fund it. However this in itself highlights the selective spin that he has used for years to bring money in on the back of ATC, as without it he wouldn't have been able to raise a cent. For this reason if no other he has to go. One of the most important things from an investors standpoint is to have management with honesty and integrity and unfortunately for past and future (if he stays) investors Drona has neither.
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