I am intrigued by repeated Gerald's hints that the

I am intrigued by repeated Gerald's hints that the diagnostics division can be successfully spun off with addition of "complementary late-stage neurology-focused diagnostic asset(s)".

IMHO, unlike established companies, it is not ideal for an early and small biotech to spin off assets if it purely "hopes" market can "recognise the otherwise latent value". Spin-off comes with additional recurring cost: additional listing fees, accounting fees, overheads etc. Cost consideration is critical for small companies. In my understanding, spin off usually happens because a company has grown too big where certain hidden or niche value needs focused recognition or that there are other pertinent issues to be addressed.

There are a few possibilities that the spin-off benefits will outweigh the costs for AMBS:

1. There is a memorundum of understanding with a prospect who is interested in investing in AMBS diagnostics assets only. This prospect may potentially be a big diagnostics pharma who wants to expand its diagnostics portfolio. AMBS may use another potential diagnostics asset addition as timing tool or must-have asset for deal closure.

2. A prospect is contributing its diagnostics asset, probably one that is already established in the market and generating revenue, in exchange with a stake in AMBS diagnostics as a joint venture in a separate diagnostics entity. The prospect likes the potential of AMBS diagnostics assets but is not willing to pay upfront cash.

For both possibilities, the prospect may not see any potential in BC-Sera Pro and AMBS agrees not to include it in the new diagnostics entity. It is also likely AMBS will keep majority stake in the spin-off.

The possibilities will also allow AMBS to have certain control over the timing of the deals. This will go in line with my perceived AMBS strategy to line up the ducks timely for the uplist.

Definitely there may be other possible reasons for the spin off of the diagnostics division or that the spin off does not come with any packaged deal.

I believe AMBS board is business-strategic. They would also have surely considered the additional spin-off cost and have good reasons to continue to add talented people to their team with cost.

In summary, I do not think the spin off of the diagnostics division is a good move unless there is/are other value-adding deal(s) to go along with it (together with or soon after spin off) which the market is not aware of at this point.