Prior to Dec 12th 2018 - this was sort-of a decent deal.  It...

Prior to Dec 12th 2018 - this was sort-of a decent deal.  It would throw Prana a lifeline of some badly needed cash and maybe some better leadership.

Now - it's a major disappointment

It's a great deal for Sinclair and our board members (GK and the crew -Goslin).  A sweetheart deal, where they keep their board seats, do less, and have a rosy future compared to us enduring Shareholders.

The Expert Valuation report is not valid as it appears.  FTI Ltd. (authors of the Expert report) had no knowledge whatsoever about the developments (post Dec 12, 2018) with PBT2.  It bases Prana's valuation on data that was only accurate prior to Dec 12, 2018.  I assume the report's authors were never given the information on the startling developments with PBT2.  They're not going to be very happy when the see how they've been "used."

Obviously, GK and the boys are not working on acquiring the necessary patents - just sitting by, waiting for Sinclair and Edwards to do the heavy lifting, while they enjoy... 

Looks like they have no interest in renegotiating the Sinclair deal in the light of the developments with PBT2.  Did they get some juicy "promises" that aren't part of the 100+ page agreement.

The only benefit I see is, we get some new leadership - but take a serious haircut on the ultimate value of our holdings and control. 

We have until April to rock the boat or accept a tiny bone. 
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HSBC holds the lion's share of outstanding stock.  GK hasn't done much for their holdings either - Hmmmm.

Strategy?
Need a new leader - but I don't see giving everything away for a pittance.  We can lose GK at the next AGM if HSBC would join in (any of you Aussies know any wigs there?).  With real leadership PBT2 could be properly exploited, providing capital for development of other PBT's, and giving this company real value.  Right now, I'm not smiling...Let Opthea have GK and friends ... full time. 

Think about it...the pump and dump folks hit this company every year or two and the price briefly jumps like it's stung by a bee.  >>>And that's without the revelation we've gotten re: PBT2. 

Maybe time to explore other options.

Strictly my opinion...