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daicosisgod

12,488 Posts.

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14/11/19

11:08

Post #: 41418835
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Originally posted by Biggsy 07 ↑

)Hey Daicos I’m aware of the previous announcement.
My concern is the issuing of 83 mill shares for an
unapproved drug + 8.75 mill US. My issue is what happens if it doesn’t
get approved? Does Mithra have to hand back its shares
or not? You might think I’m talking out of my proverbial
but no-one has answered my question. Everyone has assumed
that because it is at phase 2 or 3 trial that it’s a done deal but
it’s not a done deal at all until it receives approval and that’s a fact.
I believe Richards chose his words very carefully in regards to
that previous announcement because I read it very carefully.
If the OCP never gets approval then he’ll refer back to his original
announcement and say he never gave any guarantees about anything
I can guarantee you that much. I am fairly heavily invested in this so it’s a fair
question to ask. I’m a nurse and nothing in the language that Richards
used made me feel excited in the slightest. There are plenty of OCP’s
out there on the market already. The market’s
reaction today was a 6% downwards correction in the MYX share price,
not exactly a ringing endorsement of the secured deal. Let’s hope today’s
share price close doesn’t gain any further traction tomorrow but I wouldn’t
bet on it! Just gives the shorts another chance to ratchet up the pressure.
I suspect the AGM will be a potential yawn next week but I managed to
swap a shift and I can guarantee you that I will be attending
to survey the mood and the outlook. Tying up a deal like this before the
AGM will provide a perfect distraction to some tough questions that should be
asked. Too much hype in my mind for potential massive future earnings
in multi billion dollar markets from unapproved drugs that may be approved at some
point in the future but that doesn’t pay the interest bill on current borrowings. Only cold
hard cash from cash inflows does that.
If potential earnings forecast was to beat expectations by +15% it should
be immediately released to the market so not expecting anything like that at all at
the AGM.
Happy to be proven wrong about everything above and if I get the chance to throw
a curve ball at Richards then I fully intend to. Parting with share holders cash and
equity effects everyone of us and the company’s bottom line. For the record, just
like Charts I was involved in the SGH debacle and poor decision making by the
CEO can lead every shareholder straight over a cliff as the CEO talks up the company
and future earnings whilst leading it in to an embarrassing dismal failure if those profits
don’t ever eventuate....

Expand

We all have scars mine is RFG. MYX still owes me and yes I agree to obtain the FDA approval is still a risk. I was in Sirtex for a while but got out with a modest profit but that was a stage 3 trial roller coaster.

I was a bit harsh about your you know what, so apologies from me.

What's your curve ball question for the AGM?

MYX Price at posting: 55.3¢ Sentiment: Hold Disclosure: Held
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Last $4.17		Change -0.090(2.11%)		Mkt cap ! $354.7M

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