If he was willing to sell he wouldn't come up with those 800m shares to be issued, he would knock on the doors of those in charge and show off what CHM got. The reality is he does the exact opposite by driving the sp down with those unheard-of CR Ts & Cs plus offers a huge % of to be issued shares. Normally we see a mx of 20% per CR but not 66% at the last RI and now 100%. The way to go is to raise at higher prices for less new shares but that requires a bit effort he is either not willing or used to put in. When he IPOed RAD and CHM the markets threw $$$$ at anything that had the word " oncology " as their core business. Now the times have changed and the picking up money has turned into promoting the assets to get money, a trait he hasn't shown over the last 3 years, neither here nor at IMU or RAD.
The quality of the assets is high, JC and her team did a great job and yet, the EV is almost ZERO. Tough market I hear people saying, really? If ALA can easily raise 10m having nothing but delays and stuff ups to show for how in the world can't CHM get a similar or better deal done? Easy, because he doesn't want to. Why? That's the question and the answer is not given by him. Maybe Baker ( ALA / RAD ) and JC asked that question and had to go.
GLTA
CHM Price at posting:
2.3¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)