I never once thought we would actually uplist to the Nasdaq. I've been posting this for the past year. Gerald had to tell the toxcis that he had a plan otherwise they wouldn't have agreed to the tender exchange. And he needed them to agree to the tender exchange in order to go out and try to raise money or do some kind of deal. So he tells the toxics what they need to hear, he tells the shareholders what they need to hear and he tells any potential investor what they need to hear. He is juggling a bunch of balls all at once as a way to buy time. This is all so he can hopefully put some kind of deal together to save the company in the meantime. But he has never had a definitive master plan. He cant because there are too many variables.
He has accomplished exactly 2 things in the last 3 years:
1. Completed the tender exchange (he was 3 months late on this)
2. Raised up to 1.5 million (subject to certain conditions)
That's it. Nothing else. But he hasn't really even done this, because he still needs to settle the accounts payable and raise yet another 5 million to actually have the toxics release all of their security. And the $1.5 million was subject to other conditions, but we have no ideas what those conditions were because they never told us.
Every pr that has been released for the past 3 years has been what they are PLANNING to do, never what they have ACTUALLY done. Nothing. In fact they have failed at executing EVERY single plan they said they were going to execute. Even during the last reg A conference, he said there would be news regarding the AP in the next "several weeks" That was 11 weeks ago. So where is the update? I'm sure Gerald thought there was going to be one, but he should say nothing if he is not certain. It just cost even more credibility if that is even possible at this point.
The idea that they would IPO Elto is ridiculous. How is that going to help us? We give away almost all of Elto and we get some minor stake in a new company in the form of shares that we cant sell. So sure on paper it might be a lot of money, but so what? We had $20 million in Avant stock at one point, but it meant nothing. Of course Gerald and his other managers would no doubt issue themselves millions of shares of IPO stock in this new company, so they would do great. So Im sure it is an attractive option for them, but nobody else. Plus who wants to buy into an IPO when the company has only one asset, talk about a one trick pony. What if Elto fails in the phase 3 trial- the entire company and all of its stock becomes worthless over night.
Fortunately, I don't think they will do an IPO for Elto or Cutanogen, its too complicated for Gerald to undertake. I think they are going to do small raises along the way until they can put together a decent deal for at least Elto- that is what I am hoping for at least.
The toxics will wait forever if they have too- they wont require an up list- they will just keep extending - they don't have any other choice, just like they rest of us. Hopefully we will get some real news sometime soon, but I have given up trying to guess when that will be.
He has accomplished exactly 2 things in the last 3 years:
1. Completed the tender exchange (he was 3 months late on this)
2. Raised up to 1.5 million (subject to certain conditions)
That's it. Nothing else. But he hasn't really even done this, because he still needs to settle the accounts payable and raise yet another 5 million to actually have the toxics release all of their security. And the $1.5 million was subject to other conditions, but we have no ideas what those conditions were because they never told us.
Every pr that has been released for the past 3 years has been what they are PLANNING to do, never what they have ACTUALLY done. Nothing. In fact they have failed at executing EVERY single plan they said they were going to execute. Even during the last reg A conference, he said there would be news regarding the AP in the next "several weeks" That was 11 weeks ago. So where is the update? I'm sure Gerald thought there was going to be one, but he should say nothing if he is not certain. It just cost even more credibility if that is even possible at this point.
The idea that they would IPO Elto is ridiculous. How is that going to help us? We give away almost all of Elto and we get some minor stake in a new company in the form of shares that we cant sell. So sure on paper it might be a lot of money, but so what? We had $20 million in Avant stock at one point, but it meant nothing. Of course Gerald and his other managers would no doubt issue themselves millions of shares of IPO stock in this new company, so they would do great. So Im sure it is an attractive option for them, but nobody else. Plus who wants to buy into an IPO when the company has only one asset, talk about a one trick pony. What if Elto fails in the phase 3 trial- the entire company and all of its stock becomes worthless over night.
Fortunately, I don't think they will do an IPO for Elto or Cutanogen, its too complicated for Gerald to undertake. I think they are going to do small raises along the way until they can put together a decent deal for at least Elto- that is what I am hoping for at least.
The toxics will wait forever if they have too- they wont require an up list- they will just keep extending - they don't have any other choice, just like they rest of us. Hopefully we will get some real news sometime soon, but I have given up trying to guess when that will be.
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