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Posted On: 12/16/2019 3:28:24 PM
Post# of 149028
Re: Bored Lawyer #12807
My last count was 60M free, but 50M free with last week probably right. That is with 43M reserved for conversions, if they could pay that off, put the O/S to 93M. They have been slow using those shares, and with the BLA and mono done in 2020, the burn rate needed is greatly reduced
Honestly another 100M O/S at 30c with 75% warrant coverage is only $17M. That is starting to feel like death by a thousand razor cuts. If they can get their without raising shares again, for example the deal, or other deals, fine, but if they need to continue selling shares, say by another 100M O/S raise, I don't think helps much if the sp is still 30c. If it comes to another A/S raise, I would prefer they R/S, say 20:1, sp $6, O/S goes to 20M, uplist to nasdaq,
raise 100M, selling 20M at $5 and be done with it. Yeah sp could take a hit, I know, most are against it (but market cap is already at multi-year lows, so not a concern for me). But it would be done and company might feel fresh again with more interest than just retail.
Honestly another 100M O/S at 30c with 75% warrant coverage is only $17M. That is starting to feel like death by a thousand razor cuts. If they can get their without raising shares again, for example the deal, or other deals, fine, but if they need to continue selling shares, say by another 100M O/S raise, I don't think helps much if the sp is still 30c. If it comes to another A/S raise, I would prefer they R/S, say 20:1, sp $6, O/S goes to 20M, uplist to nasdaq,
raise 100M, selling 20M at $5 and be done with it. Yeah sp could take a hit, I know, most are against it (but market cap is already at multi-year lows, so not a concern for me). But it would be done and company might feel fresh again with more interest than just retail.
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