A few thoughts
posted on
Mar 15, 2021 02:31PM
Nice positive news on the science front, it's too bad so many investors were using this as an exit opportunity but I guess not surprising given the perpetual disgrace the business side is in. The tide does seem to be turning a bit though, as I write 943k shares have traded across all Canadian platforms and of the houses involved 8 of 18 are net sellers as compared to a few hours ago when 11 of 17 were net sellers. I think if this was a well run company with a visible go forward financial plan, the CoVid news of late and the BTD would see the share price in at least the $5-10/sh range. JMO
Regarding the change of the year end, perhaps it is to potentially recognize CoVid revenue earlier than April 2022. With all the tax credits they have I can't imagine tax will be an issue. This change will also allow RVX to delay and/or get back onside with the next AGM. They have been offside for awhile as current regs stipulate that an AGM must be held no later than 15 months post the previous AGM and within 6 months of the fiscal year end (where they have been offside). With the new fiscal year end it would mean the next AGM could be put off until end of March 2022.
On an optimistic note, perhaps the delay in financial visibility is because there really is a deal for the company in the works and perhaps it is waiting on a clearer CoVid therapeutic picture. It would then make sense to hold off on redundant dilution. One can always hope.