Always liked reading your posts and appreciate the time you have put in to researching the science.
The comment below though I disagree with.
"I now know a deal signed back then is NOT ANYTHING like a future deal to be signed....especially the OA Global...they need to hold out on that one for longer definitely....they need to auction that..."
By holding out on a deal (if this is what happened) PAR has had to do a raise and by the looks of it, another raise soon. Basic math's means that a deal with a 20% royalty today equates to a 15% royalty deal 1 year ago. This is due to dilution. All this bulls @ # t regarding squeezing a few extra percentage points of a royalty is all pointless if we need to raise again. It's also putting the long term survival of the business and getting Zilusol to market at risk.
At the time, if there was genuine interest, PR should have accepted a royalty as low as 12% prior to the 2 most recent raises.
A possible scenario (pure speculation by me at the moment) is Paul scared all the pharma companies off being overly aggressive on a deal and not factoring in the reality that by doing a deal earlier but for less than he wanted would have actually be better for shareholders than doing a deal for more after dilution has occurred.
The whole thing seems to be management naivety which was left unchecked due to poor governance and a lack of contrarian views on the board.
PAR Price at posting:
33.5¢ Sentiment: None Disclosure: Held
(20min delay)