The website looks like it has been tidied up but it's fairly empty and there's not a whole lot of focus on Oraline IV yet.
One key part of the website I didn't notice before is under the "about us" page:
I guess this re-affirms what I was thinking in my previous post that the company is going to try and extract value from Oraline IV without using too much capital but probably focus more on other biotech opportunities. IMO that is a faster way of creating value for shareholders, by acquisition, especially given they have some cash to play with. Based on other biotech acquisitions over the last 12 months, there would be a good chance of a significant re-rate of the share price.
CYP is a good example of what Howard Digby / Forrest Capital can do, and looking back at where it came from it's now trading with a fully diluted market cap of close to $30m. I would love for Howard and the rest of the board of SBN to do something similar here. Potential downside for SBN from 1c is probably not too much at the mo given the cash position of SBN and the companies focus with various announcements due.
It's a shame there are two 1m sell orders sat in the depth, unfortunately at these low levels with a thin market depth, sell orders like that can put people off buying in. I've always said we need a day of much bigger volumes to allow stale holders to exit, and for the market to give a true value to the company. We might have to wait for an acquisition announcement for that to happen.
Agreed it was good to see a 1m buy order come in today.
SBN Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
