good morning, @dannyr70my take on the up sizing of 10%.Illogical...

good morning, @dannyr70

my take on the up sizing of 10%.
Illogical greed would have me say dilution is bad.

Now my logic:

While we have a very solid backing for ALS, it is not our total operating costs
We have a healthy bank balance BUT on the radar:
- 8 dog lymphoma trial
- human ALS trials
- human cancer trials
- COVID 19 trials *** (the big unknown)
- Monepantel manufacture for human use (note not to use Elanco supplies)
- carbon neutral biomass process development (albeit I see this cost being absorbed predominantly by Epichem and the new JV entity plus grants)
- risk overall as to what COVID19 will do in enabling our entities and their customers to operate. We are still in the midst of a pandemic

I would expect the 10% is there for COVID 19. The rest they could either find other ways OR could slow to absorb costs over a longer period and buy time to enable Space to land a vet deal.

If some of it is incentive driven, ok - I like hard deadlines

Giving them right to make a decision without going to SHs will allow them to strike when the iron is hot and when it is known to be needed.

So for me, to prioritise COVID19 will cost and to takes money to make money.

I also reflect that the majority of the BoD are big shareholders - they also are bound to work to the best long term interest of all shareholders.

adreamer is ok with it.