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Or perhaps the tiltle should be WHY are we playing the waiting Game – when it could easily be avoided ?
Here’s a little background
It’s almost two weeks since the company sent out the Q3 announcement following the infamous cancellation of the shares issue of november 5th.
In the Q3 announcement Bioporto wrote that it expected to finalize a financial solution in the near future…
This was sent out by the company after issuing a statement on november 5th where they wrote that they were in a critical financial state…
In my book – under such conditions and with the uncertainty that there is is the market – 2 weeks is quite a long time….
I know that BioPorto has received offers for capital from at least two separate groups – and have turned down both of them, (and declined meeting with a third group of also existing investors) This happened BEFORE the Q3 announcement. So obviously something is brewing/cooking . It could be negotiations with a new group of investors who are demanding completion of a due dilligence – or it could be a new strategic partner.. But even so – and in spite of the turmoil that the two announcements have caused – BioPorto have decided not to put their shareholders at ease, so the shareholders are left guessing…
Are we playing “the waiting game”, are we playing “Chicken” – or are we really in “deep shit” ?
It might be that the company has a 99% bulletproof plan – but – with the number of broken promises in mind – there is of course little faith amongst the shareholders in the ability to solve the present crisis in due time…
The company has rather arrogantly chosen not to inform us…
But – in spite of the lack of info – in spite of the omnious announcements sent out by BioPorto, I reiterate my belief and faith in the company, and I expect that there will be a positive announcement in -ahh- what I consider a short time (a couple of days). There is little doubt in my mind that they are working tirelessly in securing a sound financial solution – my estimated guess is that we will see a positive outcome – that will include either a large new shareholder – or an agreement with a large regional/global distributor and a solid 1st order – or a combination of both
On November 5, BioPorto was forced to announce that neither of the two subscribers had paid the subscription amount due under the planned share issue.Alternative financing options are being examined as a consequence of the cancellation.The company has received positive responses from several existing investors and expects to be able to present a financing solution in the near future which will guarantee the company’s continued operations and liabilities
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