paladin I would agree that something must be going on given, as you say, the debenture extension as well as the continued recognition of the science. My question is whether or not the management in place is capable of actually executing if and when opportunity is in front of them. We are talking about a team led by someone who said roughly 2 years ago that partnering with pharma would take 5 years, which was "just too long".  This same management team then engaged with Eversana to the tune of roughly $10 million when they had no money and before they had a product to sell. I could go on but in short this "business team" has been way too long on empty talk, poor judgment/bad decision making and horrendous financial management. They would make a great text book case on how not to run a public company. You have to be a special kind of incompetent to spend over $600 million developing a ph 3 drug that in many respects has a great deal of promise and "manage" that to a $35 million market cap. 

On the subject of executive compensation, I see on page 11 of the Notice of Meeting and Management Information Circular that ...."It has been determined that the Corporation's compensation programs are not competitive"...  Apparently the compensation "analysis" gives no consideration to performance. According to the circular (pg 24) McCaffrey has received about $3.6 million in salary and share based awards in the last 3 years. What has the company achieved in return for that.....diddly. How could one not be totally embarrassed by this dismal performance. Sickening.