As amb005 says, no share praice manipulation here, just an unloved stock in a very uncertain market right now. Not going to rehash our disagreement on the consolidation amb, but in retrospect I do believe it stabilised the SP - pre announcement the shares were in free fall, trading below 5c with a big seller pushing it down every day. Now they're 30% higher despite the global markets melting down. I still think the SP should be much, much higher - if Edison says A$103.50, I'm good with that.
I'd expect the Nasdaq listing should move forward pretty soon, but the SEC moves at its own pace and ASX small cap companies definitely don't get to dictate the timetable. Last update was that Medlab had completed inital filings and were awaiting SEC feedback, so hopefully this side of Thanksgiving. The Nasdaq listing should fully fund everything needed to complete P3 trials for NanaBis, and the timeline on that is I think 12-18 months up to and including submission of drug registration with the FDA? Not that long in the scheme of things.
MDC remains light years ahead of other "pot" stocks, and NanoCelle is also completely unvalued at this time (the $multimillion capex on IP is not capitalized on the balance sheet, and the Edison report bases their $103.50 valuation completely on NanaBis, does not even include NanoCelle as a potential revenue stream).
NanoCelle is now fully patented and can be safely discussed for due diligence and partnering with big pharma. Again, I don't think Medlab gets to dictate the timetable on those discussions with companies the size of Pfizer, but one deal on NanoCelle would be an instant company maker.
As to a "lifestyle company" - I'm not sure why Deb_R continues to repeat the same false info about MD salary; I know he gets his info from the data-scraping bot at simply wall st. but I'd recommend actually reading the remuneration report. I've called Deb on this before to no avail but when a lie gets repeated often enough, investors start believing it, and that just hurts the company and shareholders.
Sean Hall's actual salary is significantly less than ">$600k". After selling BioCeuticals in 2012 to Blackmores, he spent over $4m of his own money and 3 years without salary building Medlab before it listed in 2015, and as the largest shareholder he's seen his equity drop from a 2018 high of circa $55m to around $3.8m in the last few years, and never sold a single share. Anyone who considers that a lifestyle is frankly a moron, or trying to manipulate sentiment.
If you're not a fan of management or the board, that's fine, but please use factual information. The Nasdaq listing will probably dilute Sean and other major holders enough that they're potentially giving up control of the board and the company to get this done anyway, but I think they're doing the right thing for the company and the shareholders in that regard.
GLTAH and as awlays, DYOR
(20min delay)