Who commissioned Glaucus?, page-44

If they are completely wrong on BLA, loading up the truck on shares priced at $3 something would be a steal compared to the $11.48 before the release of the Glaucus report, or their all time high of about $14.50 in December.

However, given that:

- the company has moved on from its initial insistence on 'gross misrepresentations' in the Glaucus report, to admissions that market sentiment generally is negative and that they have fallen short of market and shareholder expectations around transparency and disclosure
- they have materially revised guidance downwards
- they admitted that they "need to recalibrate Blue Sky’s income mix toward a greater reliance on recurring cash income"
- they had to refund the SPP
- the MD has had to fall on his sword
- the board has been shaken up
- a bevy of lawyers and investment bankers are now circling, and
- latest reports seem to indicate that the board is now trying to better understand the levels of debt in each of the funds and hence what actual AUM might be

it would appear that some fundamental truths have been uncovered.