Ann: Letter to Shareholders, page-237

Might I even go on to agree with you.
LC, YF & Co. have been strongly hinting that trials are looking very good.
The way I see it, the BOD were presented with an opportunity to obtain another building block to enhance company advancements and decided it would be worth taking a step back - in other words some dilution and SP regress, to obtain two steps forward in the overall scheme of things which will produce a better return for shareholders in the long run.
Every shareholder needs to come to their own conclusion but IMO, Instructional SH's are more attuned to what’s really happening, which is why I continue to hold.
Easy for small Mum & Dad SH to get nervous & sell. Some see it as an opportunity to lower their average purchase price.
Can be a hard decision to make but in the end a decision we will all need to live with.