I hear you, Homer. And I have said every one of th
Post# of 36568
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Posted On: 07/23/2020 1:30:44 PM
Re: homerbedloe #18920
I hear you, Homer. And I have said every one of those points myself on this board at least once. I hope you are right on any of these points, since we are only “one hit” away from taking off.
However, due to Covid and its negative effects on Excellagen, our only truly, currently commercially viable product, we are pretty much sitting on a one-legged stool... NGIO spin. Without a successful spin that raises funds, increases the assets/SP of GNBT, Joe can’t access any of these other GNBT S1 funds at a reasonable price without massive dilution..
So it continues to burn me that it APPEARS that we shot ourselves in the foot, at the very least with timing, by not having our ducks in a row with this SEC stuff. Now I’m sure there’s a lot we can’t see, and I couldn’t make the last conference call... so I’ll apparently never get the chance to have my own opinion of what was said and how it was handled. But it’s clear from the dates of those SEC letters that there was a long lapse in time between when the first 2 letters were sent and when Joe and team got back to them... otherwise the third letter would not have been sent, and none of the letters would have been released for us to see.
I don’t know if this long lead time is part of a strategy of stalling to get to a certain step in II-key research or development, thinking we can get more money out of the IPO. What I DO know is that there is a certain point where the IPO needs to go forward regardless of Covid progress or deals start to collapse, people start to walk away, GNBT becomes insolvent, etc. If there were “100s of millions” in value there last year, they shouldn’t have gone away with good 10-year data added, regardless of CV vaccine potential or lack thereof.
The NGIO spin was supposed to happen in the first Q of 2020. Again, we can’t see all the info, but I have strong doubts that we can hit Q3 at this point. So when I see that there has been another dropped ball that, according to the info available to me, has possibly delayed the entire spin/IPO by months, my trust is shaken, and my patience (which along with many of yours has been stout) starts to wear thin.
IMO, we need to race the NGIO spin/IPO/listing to the finish line at top speed and be certain no mistakes are made on that path, even if it causes a resource crunch elsewhere. Frankly, I don’t care if we lose $XXMM or even $XXXMM in potential by not waiting for all the ducks to be perfectly aligned. We have so many GNBT ducks in the cage right now that need to be released, that it is worth that loss. We need to realize SOME potential soon before the window closes.
Maybe the man behind the curtain will reveal great things to us, and all will be shown to be rosy. But right now, what I see is missed deadlines and apparently unachievable milestones that are putting all of our money at peril.
However, due to Covid and its negative effects on Excellagen, our only truly, currently commercially viable product, we are pretty much sitting on a one-legged stool... NGIO spin. Without a successful spin that raises funds, increases the assets/SP of GNBT, Joe can’t access any of these other GNBT S1 funds at a reasonable price without massive dilution..
So it continues to burn me that it APPEARS that we shot ourselves in the foot, at the very least with timing, by not having our ducks in a row with this SEC stuff. Now I’m sure there’s a lot we can’t see, and I couldn’t make the last conference call... so I’ll apparently never get the chance to have my own opinion of what was said and how it was handled. But it’s clear from the dates of those SEC letters that there was a long lapse in time between when the first 2 letters were sent and when Joe and team got back to them... otherwise the third letter would not have been sent, and none of the letters would have been released for us to see.
I don’t know if this long lead time is part of a strategy of stalling to get to a certain step in II-key research or development, thinking we can get more money out of the IPO. What I DO know is that there is a certain point where the IPO needs to go forward regardless of Covid progress or deals start to collapse, people start to walk away, GNBT becomes insolvent, etc. If there were “100s of millions” in value there last year, they shouldn’t have gone away with good 10-year data added, regardless of CV vaccine potential or lack thereof.
The NGIO spin was supposed to happen in the first Q of 2020. Again, we can’t see all the info, but I have strong doubts that we can hit Q3 at this point. So when I see that there has been another dropped ball that, according to the info available to me, has possibly delayed the entire spin/IPO by months, my trust is shaken, and my patience (which along with many of yours has been stout) starts to wear thin.
IMO, we need to race the NGIO spin/IPO/listing to the finish line at top speed and be certain no mistakes are made on that path, even if it causes a resource crunch elsewhere. Frankly, I don’t care if we lose $XXMM or even $XXXMM in potential by not waiting for all the ducks to be perfectly aligned. We have so many GNBT ducks in the cage right now that need to be released, that it is worth that loss. We need to realize SOME potential soon before the window closes.
Maybe the man behind the curtain will reveal great things to us, and all will be shown to be rosy. But right now, what I see is missed deadlines and apparently unachievable milestones that are putting all of our money at peril.
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