My opinion is my own and changes as time goes on....
No one likes missed deadlines
especially when they are told the same thing multiple times only for it not to occur.
Anyhow the recent Quarterly did not explain the delays,
Or make any effort to apologise,
Or explain how they got it so wrong.
Nor did it give any updated timelines on the results of the other Trials.
On that I figured that the Announcement was not good enough to keep the SP up.
Shareholders really needed and deserved an explanation for the delays,
updates on the other Phase II Trials,
And an updated timeline.
It also showed they are nearly out of funds,
While shareholders were told results would be out mid last year,
So would have expected funds to not have been an issue,
At least until after all the Phase II Trial Results were released.
I thought they were treating shareholders like fools
for not correcting their errors on when results would be released.
Or apologising.
Nor did they offer any updated timelines.
Anyhow the old saying "never fall in love with a stock"
Came to mind and it seemed that once that is taken out of it,
Thoughts were then: why should it be up to shareholders to keep defending a company,
Who is treating them like morons?
By not keeping them informed on realistic timelines etc?
My immediate thought on the Ann was:
"this thing is going to go down, it did not answer anything shareholders needed to know,
Nor give any realistic updated timeline or any valid reason for stating results would be released over a Year ago. They will also need to raise, and who knows how long it will really take to get all the results.
It could even take till the end of the year given how long it is all taking"
So I thought "stuff it" I have been waiting so long for these results,
There is no way I watching my holdings halve in value,
Because a Company cannot give realistic timelines.
They make enough money let them support it themselves.
Another thought was a hard to learn lesson that I am trying to improve doing,
Which is to "sell when you think a price is going to go down,
You can always buy in cheaper if you wish."
Then I thought why would want to buy back in?
it would have to be once all preliminary results were out,
And even then trying to pick where all the Completed Results would be out.
I figured it would be very late this Year if not even later given the glacial pace BIT moves at.
So do I really want to waste the rest of the Year,
If not even longer given BITs proven ability to miss deadlines,
On a stock which treats shareholders like fools,
And constantly gives what seem like unrealistic timelines?
The other thought was "do I really want to participate in a raise?"
Problem is Shareholders will likely have their Value of Holdings Decimated by shares being offered at a large discount, Just so it looks like they are doing you a favour by giving such a discount?
With even more dilution !!!!
It's a catch 22.
You halve the value of your holdings to get some cheap?
makes no sense to me.
Prices often drop to raise price,
And they can keep their free options.
The missed opportunities waiting due to being told results would be "Mid 2023",
Are adding up !!!!
So much time wasted for believing these misleading timelines.
At this point in time the company needs to rebuilt trust,
It is up to them to do so themselves.
They need to explain why they said it would take a much shorter time,
stating results would be Mid last Year?
What were their reasons for coming to that incorrect conclusion?
They also need to apologise to Shareholders for getting it so wrong....IMO....
OT, look at what happened to MNS for getting things wrong in their Announcements.
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