Posted On: 06/16/2016 9:07:36 AM
Post# of 72441
No, the Ashcroft firm got one million OPTIONS TO BUY CTIX stock at a price of 1.70. Those options were valued by the company at $432,000. This will be a cash injection for CTIX of 1.7 million dollars, when the Ashcroft firm exercises those options. CTIX's lawyers will become one of CTIX's financiers.
In other words: The Ashcroft Firm still has not been paid for their work, because their options only have value when CTIX stock hits 1.71.
This is the strongest possible vote of confidence that anyone could make in Cellceutix as a company, and in Leo Ehrlich's leadership of it. Remember that the Ashcroft firm took the case when CTIX was trading around 1.20. So, they knew that they would not be profitable until the stock went up about 45%.
Realistically, would anyone take on this level of work for a few thousand bucks? No, the Ashcroft firm must be expecting CTIX to trade at the very least at 2.20 for it to be worthwhile for them to do this work (half a million bucks for them). But I think they are thinking that they will make much, much more -- millions.
I think they've already put at least several hundred thousand dollars' worth of work into this case -- and have not gotten their payday yet. Our attorneys' interests are absolutely aligned with the interests of the CTIX shareholders.
In other words: The Ashcroft Firm still has not been paid for their work, because their options only have value when CTIX stock hits 1.71.
This is the strongest possible vote of confidence that anyone could make in Cellceutix as a company, and in Leo Ehrlich's leadership of it. Remember that the Ashcroft firm took the case when CTIX was trading around 1.20. So, they knew that they would not be profitable until the stock went up about 45%.
Realistically, would anyone take on this level of work for a few thousand bucks? No, the Ashcroft firm must be expecting CTIX to trade at the very least at 2.20 for it to be worthwhile for them to do this work (half a million bucks for them). But I think they are thinking that they will make much, much more -- millions.
I think they've already put at least several hundred thousand dollars' worth of work into this case -- and have not gotten their payday yet. Our attorneys' interests are absolutely aligned with the interests of the CTIX shareholders.
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