Casteledwizzard "Apparently they don't have the money."SVSHG...

Casteledwizzard "Apparently they don't have the money."

SVSHG have always been straightforward with the situation of their funding, explaining about monies "in the bank", "committed" and "pledged". They have been straightforward about the situation with the cornerstone investors. It was this honesty and transparency that prompted them to withdraw their DoCA when the cornerstones pulled out due to lack of time and proper access to information to perform due diligence.

On the other hand, Orqis never truly disclosed the status of their product and the failure of their clinical trial last year, and the fact that they were on the brink of bankruptcy. They don't have to, they are privately owned, but that doesn't make them honest or straightforward. They always claimed their $40-50 million was "already in the back"??? Selling the bird they haven't caught yet, were they?

So there you have Peter Crosby scrambling on his sinking ship concocting this little scheme with his pal Dovey to spend someone else's money (J&J, Domain Associates? Boston Scientific apparently stopped backing Orqis some time ago) to get Ventracor for a bargain. And then this story of using Siqro a shelf company to get the goodies without any strings attached.

The chateauedbowtie got a bit too cute this time. Steve Sherman's reputation doesn't look too good now... No wonder the big names Orqis claimed to have the backing of don't want to be associated with deceit and failure.