the company we keep

on
The Company We Keep

Do the right thing it will gratify some people and astonish the rest
Mark Twain
It did not take long.

On Memorial Day the Protagonist returned to the regulator to request permission for insiders to sell
800,000 shares at no more than 3.20 a share down from 6.00 in April and 4.00 at which warrants were
exercised without the tale being told. The insiders came upon the shares through the sale of a shell
company to the Protagonist that had a bright, shining life of ten days. The Protagonist has been telling,
names have been named of the suspects: the CEO of an unrelated biotech company, brokers of the
underwriter, and the Licensor doubling as a shareholder in the Licensee.

The brokers reincarnated from a past life in which they listed Chinese companies on US exchanges without complying with US accounting or securities standards. Their efforts made the small screen in a documentary, China Hustle, that is worth the time to watch. The CEO of the biotech company sallied forth in the minerals business in Nevada in 2007 until a Chinese company made it an offer it could not refuse to spend its time on the development of oral insulin for which the management chose to source ingredients and contract research from India which must inspire the Indian Army today in Ladakh. The now biotech company with a big Chinese shareholder bounced its corporate headquarters through Delaware to Tel Aviv raising another $20 million on the way.

Central to the plot is the schizophrenic Licensor, Licensee that may or may not have capitalized payments to itself but did receive proceeds of the April offering which it returned after confession but before penance. In the meantime, the material shareholders from Florida and Illinois in the amoeba of the Protagonist have filed to explain that they own enough shares to have to file while it is not clear whether the registered mail has reached Lichtenstein to remind the castle bound that they are similarly situated.

The SEC has yet to approve this presumably last call at the watering hole for which breath is baited for an update.

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