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Biotech / Medical : Apricus Biosciences -- Ignore unavailable to you. Want to Upgrade?

To: OldBoar who wrote (1958)

5/22/2016 1:03:25 PM

From: Mirror Image

Read Replies (1) | Respond to of 2026

He DOES have more control than we do and he choose not to use it for change.
Either he doesn't believe it is worth the effort OR for now, he believes Pascoe is taking us down best path given situation.

Or given the situation, he chooses not to use his position, in order to benefit himself further at this point in time.

How? We know we are going to need money to get us to the FDA approval scenario. 10M should do it. We all know he has the right to one position in the BOD. That announcement in itself would increase the share price. Why not do it? Add up all the above.

If in fact he is selling like a couple of posters here have brought the possibility - why not get a better price for your shares - by appointing a Director?

Phoenix - you have sold your shares ( if I remember correctly - 3/4 of your entire position ). If you had the ability to appoint a person to the BOD, wouldn't you have done it, and then sold your shares?

He has 14,479,052 shares at March 31, 2016. I believe he only needs to keep 4.6 M to continue to have that right. If you were Denner - Phoenix - wouldn't you have appointed a Director and then sold 10M shares?
I know that I would have - If I wanted to liquidate part of my position in Apricus and had Denner's dilema. That would be the smart move - given the situation.

The Sarissa Investors will continue to have these preemptive and board rights pursuant to the Subscription Agreements and such rights will continue until the Sarissa Investors cease to beneficially own at least 4,635,878 shares of common stock.

6th Paragraph. January 13, 2016 8K/A

sec.gov

In my opinion, the share price would easily still be averaging .60's if Denner would have appointed a Director ( range would have been more like .50's - .70's ).

If your answer is he didn't appoint a Director in order to sell his entire position, then let's do some math. If he were selling ( and only he would be selling - as in nobody else sells - not even you Phoenix ) at 300k shares per day, would he be getting more for his shares? Let's take the latest closing prices as his average selling price for the day - and figure out how much he would get. And how many days would it take him to get out of his position. 14,479,052 / 300,000 = 48 Days!! And we all know if there is only selling pressure - with NO News situation that Apricus has been in - there is no way the price would hold up.

Prices
DateOpenHighLowCloseVolumeAdj Close*
May 20, 2016 0.36 0.39 0.36 0.39 337,000 0.39
May 19, 2016 0.40 0.40 0.33 0.37 191,200 0.37
May 18, 2016 0.39 0.40 0.33 0.37 296,900 0.37
May 17, 2016 0.40 0.40 0.32 0.38 270,400 0.38
May 16, 2016 0.42 0.44 0.39 0.40 187,900 0.40
May 13, 2016 0.40 0.42 0.39 0.41 195,800 0.41
May 12, 2016 0.41 0.46 0.39 0.39 254,600 0.39
May 11, 2016 0.44 0.45 0.41 0.42 496,200 0.42
May 10, 2016 0.49 0.49 0.44 0.45 231,300 0.45
May 9, 2016 0.46 0.50 0.45 0.48 169,500 0.48
May 6, 2016 0.48 0.48 0.45 0.46 332,000 0.46
May 5, 2016 0.49 0.51 0.47 0.47 233,200 0.47
May 4, 2016 0.47 0.53 0.46 0.48 242,900 0.48
May 3, 2016 0.50 0.50 0.46 0.47 346,700 0.47
May 2, 2016 0.53 0.53 0.48 0.50 648,500 0.50
Apr 29, 2016 0.55 0.57 0.53 0.53 295,600 0.53
Apr 28, 2016 0.56 0.57 0.52 0.54 379,100 0.54
Apr 27, 2016 0.56 0.57 0.52 0.54 493,500 0.54
Apr 26, 2016 0.52 0.57 0.52 0.55 344,400 0.55
Apr 25, 2016 0.53 0.54 0.51 0.52 222,300 0.52
Apr 22, 2016 0.56 0.57 0.49 0.53 617,700 0.53
Apr 21, 2016 0.57 0.57 0.55 0.57 254,600 0.57
Apr 20, 2016 0.57 0.57 0.56 0.57 246,100 0.57
Apr 19, 2016 0.58 0.58 0.55 0.56 361,900 0.56
Apr 18, 2016 0.59 0.59 0.57 0.57 491,000 0.57
Apr 15, 2016 0.60 0.60 0.58 0.59 523,700 0.59
Apr 14, 2016 0.60 0.61 0.59 0.60 611,700 0.60

In the last 27 days, the average price closing price has been .4855. He would have theoretically sold 8,100,000 shares in that time frame. 8,100,000 x .4855 = $3,932,550. He would still have 6,500,000 shares to sell. Look at where the price is now. .39 . If he would have added a Director and I am right that the price would have at least held at .60 . 10,000,000 x .60= $6 M

It doesn't make sense to have gone down this path - In my opinion. I believe he is holding his position and will be taking advantage of this situation - one way or another. Like participating in an offering held at these prices and then appointing a Director.

ir.apricusbio.com