Re: Bioagra's "Agrastim®" Declared GRAS Designated by the United States FDA- Zties
posted on
Oct 12, 2006 05:17AM
Z...
Moved my cheese?
I still have about 20% of my holdings. I feel fortunate that I finally sold most of my holdings, and that I at least minimized my loss.
Just to put things in perspective, I currently hold 2225 shares of Vyta. At yesterday's closing price of $.41 my holdings are worth $912. If I would have sold those when I sold 80% of my holdings (at an average of $.65 (pre-RS)) their value would have been $28,925. The value of my holdings is now about 3% of what it was less than 3 years ago.
But, the average purchase price for my shares was somewhere on the order of $2.50, with some purchases as high as $6.30.
My total investment is worth less than 1% of what I paid for it.
I'm not bemoaning my losses. I learned a valuable lesson. Until the Brunetti deal I had no reason to disbelieve management. The Brunetti deal opened my eyes.
There is only one person "moving the cheese". Once that person loses credibility, there aren't a lot of options left. I personally feel deceived and betrayed, although everything that was said may be "legal". There are specific reasons why I did not totally liquidate my holdings in January 2004, and those reasons are still valid.
All the talk about purchase orders and production for the new product in advance of Vyta's formation was more hype. Put numbers on the bottom line that will justify a higher share price and smart investors may find some interest. Until then, speculation about this stock must weigh the company's potential against the credibility of its management.
Your post suggests that an investor such as myself made a mistake to sell because I missed the mark. Is that not suggesting that the price will increase to the point that I will make money on this investment? In order for that to be true, the share price would need to be on the order of $50. To date Vyta has done nothing to demonstrate a valuation of that magnitude.
Speculators may not need facts... but, the true longs, the ones that really believed at one time, will need absolute financial performance facts before they invest another dime in this company.
All my personal opinion.
Jeff