$PVCT.OB: Master and Commander

I asked a lot of questions this week of and also did a lot of listening to management and fellow shareholders. My takeaways:

• The IPO appears to be off the table for now. Provectus did not come to terms with a(the) lead investor(s) on pricing and others terms. Thus, management terminated it. Ultimately, their approach to this process was consistent with my expectations of it.

• Check to make sure you still have your ring, watch and wallet if you ever visit Maxim's offices. 

• More seriously, after learning of/hearing the conversations of many shareholders with Maxim executives and institutional and retail reps, I think Peter did indeed treat Maxim folks like mushrooms: he fed 'em s@$% and kept 'em in the dark. As such, Maxim's "alleged" behavior reverted to the mean during the terminated "IPO" process. He could not control their behavior and actions; however, some mud remains on Peter's trousers because of it.

• The opportunities for PV-10 and PH-10 are bigger than ever. Frankly, to understate the obvious, management knows more about how well the drugs work than you and I do. Breast cancer anyone? Just sayin'...

• I would like to see what more information emerges on several fronts next week and through October 31.

Dr. Stephen Maturin: They're exhausted. These men are exhausted. You've pushed them too hard. 

Capt. Jack Aubrey: Stephen, I invite you to this cabin as my friend. Not to criticise nor to comment on my command. 

Maturin: Well, shall I leave you until you're in a more harmonious frame of mind. 

[he stands and is about to leave] 

Aubrey: What would you have me do, Stephen? 

Maturin: [turns back to him and knows what to say] Tip the ship's grog over the side. 

Aubrey: Stop their grog? 

Maturin: Nagle was drunk when he insulted Hollom. Did you know that? 

Aubrey: Stop 30 years of privilege and tradition. I'd rather have them three sheets to the wind than face a mutiny. 

Maturin: You see I'm rather understanding of mutinies. Men pressed from their homes, confined for months aboard a wooden prison... 

Aubrey: I respect your right to disagree with me, but I can only afford one rebel on this ship. I hate it when you talk of the service in this way. It makes me feel so very low. You think I want to flog Nagle? A man who hacked the ropes that sent his mate to his death? Under MY orders? Do you not see? The only things that keep this wooden world together are hard work... 

Maturin: Jack, the man failed to salute. There's hierarchies even in nature. There is no disdain in nature. There is no... 

Aubrey: Men must be governed! Often not wisely, but governed nonetheless. 

Maturin: That's the excuse of every tyrant in history, from Nero to Bonaparte. I, for one, am opposed to authority. It is an egg of misery and opression. 

Aubrey: You've come to the wrong shop for anarchy, brother.