In theory, I agree. B-ABSSSI must be worth AT LEAS
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Posted On: 12/21/2018 6:40:42 PM
In theory, I agree. B-ABSSSI must be worth AT LEAST $50 million to someone out there in a worst case scenario right? I would think B-OM/IBD also is worth AT LEAST $50 million in a fire sale as well. K and P can probably fetch at least $10M/piece as well.
That means our floor should be a little around $100M or $0.50-0.60/share at a minimum, no?
That's why I'm not a big believer in the iceberg naked short position theory.
That said, it appears this is going to approach zero until Leo either forms a partnership or sells the company. At these prices, with this volume, there is no way to self-fund through a phase 3 without destroying current shareholders.
That means our floor should be a little around $100M or $0.50-0.60/share at a minimum, no?
That's why I'm not a big believer in the iceberg naked short position theory.
That said, it appears this is going to approach zero until Leo either forms a partnership or sells the company. At these prices, with this volume, there is no way to self-fund through a phase 3 without destroying current shareholders.
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(1)Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
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