I think many need to remember SYC is a former banker, and I...

I think many need to remember SYC is a former banker, and I suspect he is wearing a bankers hat ATM.

So for an alternate spin on this, there could be a couple of reasons for non immediate conversion. Fees applicable on filing notices for every holder if they converted every one at the same time and 2, the inability by option holders to quickly sell the heads on conversion again, doubling down on the pressure on the SP.

I suspect the Board are trying to ensure that someone doesn't come along with a ludicrously low bid to take the Company over while all this artificial pressure is being caused because of what is in effect, a financing event for the Company, or to put it another way, a small cap raise, through options conversion.

I doubt the board gives a monkeys about short term traders hacked off because they can't make a quick buck. The fine print no doubt states the Company can convert whenever they want.

I'm here for the Disallowed and have a 2 to 5 year time horizon. And on the evidence released by the Company to date, we appear to be on the right road to reach that destination.

Each to their own, but biotech's a long term game IMO.