RE: Is History Repeating?24 Jan 2023 14:49
I think the main problem here is that many posters are basing their analysis and assessment only on the past and the currently available information. And with that accepted, it's a vaguely compelling dot-joining and conclusion drawing exercise, i.e. if the board keeps issuing shares with no meaningful revenue, the share price and company will collapse. But that presumes the BoD's prime desire is to remain in this period of stasis. And further, what's missing from the analysis is any, and I repeat, any, knowledge of how close the various compounds are to producing revenue, 201 in particular.
In this sense it reminds me of the Malthusian trap; his conclusion based on the information at time of writing - we're all going to die - was probably correct, but he was unable to anticipate the (second) agricultural and the industrial revolutions, which rendered his argument impotent.
So in modern vernacular we are very much at an inflection point. If you believe the company will make no progress on anything, i.e remain in the doldrums some of you have described, issuing confetti and generating no revenue, then you'd be insane not to sell up and move on. If on the other hand you believe we are on the cusp of epochal change, i.e. funding is found, several of the compounds are sold and/or the lab(s) start to produce meaningful revenue, then you'd be quite mad to sell up.
As with all decisions, you have to ask yourself if you have enough forward looking information to hand to draw a solid conclusion, and I'd urge shareholders to at least listen to what the BoD has to say on the matter - if you don't believe a word they say, vote down the resolutions, that is your prerogative.
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