Aug. 28 at 5:39 PM
$CGTX my thesis has long been that a) there is a process being followed by mgmt and b) the potential future MC of this company is many multiple times higher than where its been trading in the past year. The process: get P3's proposed/approved for both AD & DLB, ideally get BTD, THEN go for an advantageous partnership deal. It doesn't make sense to take a bad partnership deal prematurely. I didn't realize the company would need more cash to complete those tasks, but it doesn't change the thesis. Now they have the cash to finish that process in exchange for a relatively small amount of dilution. When that process is complete, and assuming the company partners with a BP player, I'd expect the MC to be far higher than its current level. Plus, 2 large investors saw fit to invest
$15M (vote of confidence) and have a cost basis of
$2.00, which could provide some type of floor. NFA/JMO
