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Posted On: 04/04/2019 12:18:40 AM
Post# of 15624
Bruce,
In the past I've held IMGN at times when it only had sufficient funding to operate for roughly a month, but they knew a partnership was coming. What they did was unusual, and I believe most companies want to maintain sufficient funding for at least an additional year. In that you're saying the $3.5 million the company has will take them essentially one year, I believe it would be fair to say if they raised $5 million more they should have funds for a second year or more.
I'm of the belief that if they said they were abandoning the reverse split until at least next year, the price would return to at least a dime within a matter of weeks. At a dime, 50 million shares would raise $5 million. I would certainly prefer the O/S going up by 50M shares and avoid an R/S rather than having our holdings reduced by at least 1 for 100, and probably more.
As for holding or selling, I'm like many others here, I have a substantial loss, but still have a belief in what the company is trying to do. I'm willing to let it run it's course.
Gary
In the past I've held IMGN at times when it only had sufficient funding to operate for roughly a month, but they knew a partnership was coming. What they did was unusual, and I believe most companies want to maintain sufficient funding for at least an additional year. In that you're saying the $3.5 million the company has will take them essentially one year, I believe it would be fair to say if they raised $5 million more they should have funds for a second year or more.
I'm of the belief that if they said they were abandoning the reverse split until at least next year, the price would return to at least a dime within a matter of weeks. At a dime, 50 million shares would raise $5 million. I would certainly prefer the O/S going up by 50M shares and avoid an R/S rather than having our holdings reduced by at least 1 for 100, and probably more.
As for holding or selling, I'm like many others here, I have a substantial loss, but still have a belief in what the company is trying to do. I'm willing to let it run it's course.
Gary
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