For years we've been wanting institutions on board with Poet... we have that now and we paid a price for it. Did you think it was going to happen any other way?
Also, let's look at the market cap of this company right now. Is it sitting at $70mil or so? In reality, doesn't that actually seem reasonable? We have: two small private companies, no revenue, unproved IP.
What institution would have bought in for a higher price?
Now let me ask the more important question... why would an institution buy in at all? There are some scenario's that have been talked about like a reverse merger, going private, etc etc. I really doubt those scenarios. Everything they've done to this point has been to be able to get production going (including recently signing agreements under NDA).
What if that NDA agreement included certain amounts of volume that they didn't have the capital at the time to execute on??
I think people on here are going manic and crazy before waiting to see what's actually happening. Remember that you don't lose money until you sell.
In Rainer's famous words, this is a perfect buying opportunity and shareholder value is still there?
But without the jests, I firmly believe there's more to this story and this was simply the price we had to pay to get quick cash.
Leth-
