I believe management made 2 major blunders which is to raise cash at around 50cents (from memory) when they could have raise higher than that. They were too eager to get the money. Secondly, when they were still trading at higher SP (than today) and they knew money was low they did not raise more at that stage. They were all hoping that a deal will be signed. PXS survived by keeping certain monetary reserves all the time.
Management cannot buy more shares as negotiations are being discussed throughout the year. You get tibotec then all these big pharma trying to screw them. It's not like they have only a day to discuss with big pharma. Then you get clinical trials... etc. I don't blame them if they are unable to buy more shares.
All is in the past, this quarter we will see how good the result is with Phase 3. A very good result can get a good deal. I still believe in this company and it's future.
AVX Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
