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Re: ATM draw AFTER a TRIPLE- andrwlpClearly you missed the point. ZIOP has $88.4mill in cash and $21.5mill credit at MDA. That $88mill includes the $3mill raised when ZIOP sold 640k shares at $8.40. The question is why? What did the $3mill do to the balance sheet in the grand scheme of things. What it did do was send a signal that the ATM is live and active even in the $4s. How is that helpful? I could understand if they were low on cash and raised considerably more than $3mill. But this time ZIOP is actually in as good a cash position that they’ve been in in years. An equally important point is why was this kept from shareholders on the earnings Conf call? The call always has a financials discussion component with CFO commentary. Last week he discussed financials including a slide in the presentation. The cash was mentioned, the MDA Credit mentioned and the warrant conversion mentioned. But the ATM activated and raised $3mill not a word. Transparency has always been a complaint of legacy shareholders. Mauney was supposed to be shareholder sensitive. Last week we learned our “up to $35mill” JV in China is actually $10mill committed and up to $25mill if milestones are met. For almost a year all of us were under the impression through Cooper/ Mauney commentary that the JV was up to $35 committed unconditionally. And we found out that the ATM was active and the company sold 649k shares. Both were in the 10Q - neither openly discussed with shareholders. |
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Msg # | Subject | Author | Recs | Date Posted |
111352 | Re: ATM draw AFTER a TRIPLE- andrwlp | rubraquercus | 1 | 11/11/2019 5:51:07 PM |