No, I really don't think Smith-Barney sees this as a money maker for themselves. The non-solicitation agreement is a CYA so I can't blame them for giving me bad advice. They have treated me very well. I really think that they are just trying to look out for me in this case. But, they are clueless about CMTR, they gave up on it years ago. Hell, the entire market cap of $18 Mil is peanuts to these guys. Plus, the particular SB group I'm dealing with is geared to bio and high tech insiders, it is no coincidence that they are located at 3000 Sand Hill Road, Menlo Park - THE HEART OF VENTURE CAPITAL ROW. They get their repeat business by treating successful bioentrepreneurs nicely by giving us cashless exercise of our biotech stock options with a $4 plus 1 cent per share commission when we sell them. They made a big $4.72 on my first sale when I exercised my INCY last year. They want somebody like me back doing corporate business with them when we're in our next company, and bringing along the rest of the stock optioned employees and there is a good chance that I will be back.
I don't care how LONG everybody always claims they are on biotechs developing products, most just do not have the patience to wait 10-15 years for these things to pay off, especially when they buy in on the news spike runups and IPO's and then see them fall to a fraction of what they paid and sit there volumeless for years. About the only ones who really do consistently have this kind of patience are Venture Capitalists, and many biotechs are true venture grade investments ie.) out of 10 startups, one or two will make money, two or three will dry up and blow away and five to seven will be the walking dead and never make enough revenue in a reasonable enough time frame to give you a good return on investment (ROI), but have just enough revenue and are just too stubborn and survival oriented to dry up and blow away. Ah, but the one or two winners make enough to pay for the rest. The trick is picking those winners a lot closer to payoff than when the VC's get in but before their value gets recognized by the market. Another strategy is to cherry pick the walking dead right before they finally make a good ROI, but after all the big money has given up hope, written them off and put them well out of mind as a bad dream. Gosh, and here I am, investing in CMTR........
PS: IMO I think the self appointed censorship crew griping earlier in this thread was out of line - if they don't like a post, that's what the "NEXT" button is for (but they're just too worried about everybody else - we're all big boys and girls we can worry for ourselves). If you read this kind of stuff and expect it to not contain any hype or BS, well you're pretty damn naive. These are opinions and opinions are like ..........everybody's got 'em. If you don't like mine or someone elses - move on.......nobody makes you read it. They should quit worrying that somebody will be taken in by it, making mistakes is a really effective way to learn. But, the thought police will always be lurking trying to tell the rest of us what to say and think. If they have a problem with content, they should debate on the facts, not on the fact that you express opinions (even hyped ones) that they don't like the tone of. The main rule is "Buyer Beware - don't believe everything you read." Keep up the good posts Jeeza.
Later, Dave.
Oh yeah, $5 per share is way to cheap to sell this company until it's had a year to see what the markets for these products are really like. |
