Bob-
I disagree with your assessment of MM's report. MM said that there were offers on the table, which he assumed weren't acceptable or would have been taken. Perhaps ISV is trying to negotiate better terms, which would not mean that the offers were "unacceptable," but rather that they are still in active negotiations to get the best terms possible.
Also, MM brought up the concept of bankruptcy with the officers (not they to him,) and then proceeded to report that the officers of ISV "deeply" disagreed with this as a possibility. If they "deeply" disagree that this is a possibility, why do you put so much credence on the fact that MM chose to question them about the possibility? MM's been going nuts on this "running out of money" issue for weeks. If the CFO says that money's not an issue, money's not an issue.
MM did sound grumpy but I interpreted that as a measure of his displeasure at the length of time these negotiations have taken, and I'm sure with his displeasure at the issue of his own credibility as far as this deal is concerned. It sounded to me like he's sick to death of these guys, but that the technology is solid as a rock.
Perhaps you should call and listen again. Didn't you hear MM say that, as his first sentence, that the news is good? That there's enough here with the technology to be worth substantially more than the current share price? That the pediatric test can help doctors distinguish between blocked tear ducts and glaucoma? That the adult test is extremely good at spotting those at risk for glaucoma? That the officers reported that they are in active negotiations regarding both genes and ISV 205? That the deal for the ISV 205 test is near? That opthamology companies move slowly?
I think we'll ALL sell at the end of December, but I'm certainly not selling now, with news so near. |
