Consolidation, page-158

The over dilution of shares is not the fault of management. Management are working with a deal made by Bio-MD management when Allied Health needed a public company to use as vehicle into the Stockmarket
Bio-MD management did a deal with the devil where Allied Health were given 6 shares for every one Bio MD share. This one sided deal went through with very little consultation with BOD shareholders.
Allied Health gained a 6 to 1 deal despite bringing less to the table than BOD who actually owned 70 % of Cardiocell. Allied was a company generating 0 profit and had a vaccine that was in early stage development. Several years behind CC.
Why this deal was done I cannot comprehend. Stupidity of management and the major shareholders that let it happen.
I am not sure if this might be the core of the doctors argument that are suing the company? As I am not privy to the details of the case.
However we were left in a position of the necessity to raise money but in order to do so major dilution of stock.
Choice to management is live with it or do something about it.
I have mixed feelings about the 10 to 1 proposal. But it would be good to dump the short term traders. Nothing but parasites.