What I’d like to see.....
posted on
May 07, 2018 01:43PM
1)RVX make a definitive announcement that they will not be proceeding with the “best efforts” financing until market conditions are more favourable.
2)RVX release a somewhat detailed cash position/utilization summary starting at current position and covering the next years projected expenditures. This kind of disclosure is covered as a forward looking statement and most businesses provide budgetary projections as a matter of due course. In doing this RVX could remove a great deal of uncertainty and investor guesstimating around the company’s financial situation. Saying that burn rate will be down to $1MM per month by years end just does not cut it as useful information for an investor who wants to ball park where the company will be able to go with the current cash on hand.
3)Actually start being less “quiet”, Don’s word, about all the good science and opportunity within RVX, get the two much talked about trials started (they are very small and I “guess” inexpensive - Let investors know!) and get some more quality analyst coverage and no more paid for BS. I’m starting to believe that the lack of good quality coverage has less to do with the potential of the science and more to do with poor business management.
4)Management step up and do an in house financing of a few million dollars. We are lead to believe the price is ridiculously cheap. Cumulatively management has received multi-millions of dollars in compensation since company inception while at the same time showing little to no tangible return to investors. Management put your money where your mouth is, inspire some confidence in the investment community.
Not unlike a number of poorly run companies, RVX management has trained the market that we should expect a serious drop in price with the announcement of a best efforts financing. As such I sold a good chunk of shares at open the morning following the announcement. Speaking only for myself, I need management to show me why I should be buying those shares back at the current discount as opposed to waiting for management to do something else that will drive the price down further. I’m sold that the science has a reasonable chance of success.
I think now would be a great time for management to act on an organized plan to inspire some investor confidence and hopefully a good SSRA could help here. If they could do so they might create a good wind at their back in the form of a very nice short squeeze. JMO