For many of us long-time holders, we flip back and forth between DM has done an amazing job keeping RVX alive to if we had another CEO, this thing may have been far less diluted or sold long ago. As we are not privy to the behind the scenes discussions, we may not ever know which assertion is more correct or if it is somewhere in the middle.

One of the what the hell is he doing moments was the discounted warrant offering. As per the released financials, there was no take up on this offer. Many of us could not understand this offering. Some of us thought this made no sense as who would exercise now for a discounted risked price, versus exercise for a higher price with certainty. Others thought DM telegraphed this to the warrant holders and they would take this up. Another action on the side of why the heck was this even done.

What else did we see in the financials. We see no cash as most of us expected and essentially the same $10million in payables as the Oct 2019 financials had (which given the small monthly burn, most payables are probably getting very old). Glass half empty, these vendors are screwed, glass half full, they have no option but to wait for their money, based on a hoped for partner etc., glass full, they have been told to wait because something is happening with a sweetener. Who knows?

RVX has not really raised much money since the Ori Star transaction to take out Third  Eye other than small exempt transactions. Glass half empty, no one wants to put money into a sinking ship, glass half full, RVX is just financing to cover minimum monthly expenses such electricity and rent where they have no option but to pay – but are holding off a major financing because a transaction is forthcoming.

So the financial tea leaves leave us where we have been for many years, up in the air, praying and waiting for some Pharma to move.

As always, we wait for the science (more in a couple weeks) to hopefully solve the financial puzzle.