Holding the company's feet to the fire....
posted on
Jan 31, 2019 08:42PM
I know I'm putting some noses out of joint here, but I don't care. Resverlogix talks the talk in terms of valueing matters like being being professional in their corporate communications....I simply expect them to walk that same walk.
I accept that there are matters to which I (and other retail shareholders) are not going to be aware of....I don't want a daily or weekly update on any discussions going on with lenders, major investors, potentional BP partners....I do trust that Don and other corporate officers are busy trying to deliver on the company's business plan of developing and bringing a drug like Apabetalone to market.
I get it, there are some here who want me to drop this...let the company do what its going to do, everything will work out fine.
When the company announced they'd be doing a FA analysis at 50% or 125 events...we all waited anxiously, I'm sure BDZ remembers that well. Then it was supposed to be a SSRA at 75% or 187 events....and again we up here in the bleachers were all waiting, in vain as we now know.
When the company was deciding to cancel those interim analysis.....were bigger players like HL, Eastern and others kept abreast of developments? I don't know but my suspicion is that they were. Oh well.....we're just retail mutts I guess, why should we be told if the company decides to skip previously disclosed planned events.
If you're goign to talk the talk, walk the walk.....are other more heavily invested parties more up to date on the situation with Third Eye? Have HL et al been told something like: 'We've discussed the situation with Third Eye and they've agreed not to pursue the requirement that Top-Line be out by Jan 31st'?
The loan agreement also requires the company to maintain a cash balance in excess of $5 million....prior to today's announcement, was the company in compliance with this covenant? If not did Third Eye agree not to pursue it either? Questions such as these...I think there are other players who may be are being kept more up to date than 'the street' so to speak.
This is why investing in the market is so hard....I operate under the assumption that there are always players who have access to more extensive and more current fundamental data than I can see. Now Resverlogix has put themselves in a situation where, in my opinion, they've snookered themselves into a situation where a retail schmo like me should be made privvy to more inforamtion than they would perhaps like to give....tough noogies.
Sorry guys, I'm not letting go of this.
I do think this is by design....that's my opinion. I think there are big players involved here, and 350K shares that were short up to Jan 15th.....with those who are behind the short position grateful for things looking less clear than they might otherwise with more transparent communication in my view. Keeping a lid on any updates regarding the loan can increase the level of uncertainty.