Well, you have to admit, the new BOD is keeping things...

Well, you have to admit, the new BOD is keeping things interesting, unlike the months of silence followed by disappointment which characterised the last BOD. This will generate more interest from the market I think, as long as they execute right.

My initial thoughts on the acquisition are generally positive. These guys understand the US market and are pivoting toward sustainable growth in an area they have some expertise in.

Check out the last presentation from TheraputicsMD. it looks like these products are still in their growth phase and established in the market with more to come, so they are buying the equivalent of Nexstellis a few years down the track (except that these are proven and profitable.) https://ir.therapeuticsmd.com/static-files/b27c27b4-8554-4ea7-8eb9-47175b797bd6

Rough back of the envelope, they should make $US50m/year at current rates (after milestones and royalties etc.) There are obvious synergies with Nexstellis, and hopefully, they can grow the entire complimentary portfolio together to reverse the cash burn. They still need to turn dermatology around, but they could end up with three performing businesses, plus assets, and sustainable profits going forward.

It leaves them with zero cash and a small debt, as well as 10% dilution on the convertible note, but if it turns this ship around and stops the long slow bleed to death, it's a good sign, and endorsed by the new lender who obviously believes in the product. It's the equivalent of having skin in the game - they all want this to work.

I'd like to know more about the working capital they are acquiring, but I'm guessing it is negligible.