another capital raising?, page-16

This is really becoming a classic for the ages. Whether you're laughing or crying its edge of your seat stuff, with an unexpected twist around every corner.

It's got to be the obvious, doesn't it?

Here is the plot for a movie script I'm currently writing.

There is a small biotechnology company that is developing a very promising new drug. They have gone through decades of painstaking research to get to this point. Suddenly the Chairman sees a life changing opportunity. But for who? A deal between the Chairman & a Large Pharma is created. Within 6 months a number of very auspicious World pharmaceutical leaders linked to Large Pharma jump on Board (literally) this small company with only a promise of a potential $1m win fall each. Chairman looks for a soft payday and asks to be issued with a $1m bonus of his own and a couple more sweeteners for his mates (first mistake). Shareholder not happy and start asking themselves who is he really representing? Phase IIa trial results appear to be reasonably successful but have a harsh FAIL stamp assigned (second mistake). Share price plummets 60%. The Shareholders are not happy. Chairman dismisses them (third & fatal mistake). Shareholders smell a rat and petition to oust Chairman. Shareholders dismissed. The numbers are against the Chairman and he's likely to be disposed. Chairman barks at the Shareholders telling them the whole Board will jump if he goes. This in only because the Chairman is no longer running the company but is a puppet for Large Pharma and its insider Board members. Large Pharma had a deal with him and there is immense pressure from them to get it done before the 4/11 GM. Those previously on the Board who are not in the deal leave (didn't get sweeteners). Remaining Board members also want the deal done and apply more pressure to Chairman.

What happens next?

TRADING HALT... and the obvious...

Desperate Chairman announces done deal with Large Pharma (saw that ending a mile off eh?).

But I don't think the Shareholders are finished yet.

Question. What would have happened if the Chairman did not ask for the $1m bonus that set off the alarm bells? I think the Chairman would have got away with it. His own greed caught the Chairman out.