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Post by whale1r1 on Dec 22, 2018 20:31:48 GMT -5
The point is not for the AMF foundation to give a boat load of money to mankind. The AMF foundation has connections to USC and John hopkins, which all have endo facilities that have not given Mannkind sales reps an opportunity to make the “sales pitch”. Given all the money al has donated over the wars to the school, one would think that the university at the very least would set up a meeting for mannkind.
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Post by morfu on Dec 23, 2018 11:59:47 GMT -5
Has there been any statement from the management a about reason for this offering at all?
The only explanations I found in this forum was either some money intensive short term plan and the worry about not being able to borrow money in a future worse economic situation.
Both of them would not require any secrecy in my opinion! They could make a statement as to what this money is for in either case!
The timing was exceedingly bad in my opinion! They owe us the owners of this company an explanation!
(This unfortunately leaves my conspiracy theory on the table)
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Post by mike0475 on Dec 23, 2018 12:20:28 GMT -5
Has there been any statement from the management a about reason for this offering at all? The only explanations I found in this forum was either some money intensive short term plan and the worry about not being able to borrow money in a future worse economic situation. Both of them would not require any secrecy in my opinion! They could make a statement as to what this money is for in either case! The timing was exceedingly bad in my opinion! They owe us the owners of this company an explanation! (This unfortunately leaves my conspiracy theory on the table) Please share your CT. |
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Post by oldfishtowner on Dec 23, 2018 12:37:35 GMT -5
This was tweeted to Mike today. Mike, as you are well aware, a lot of shareholders are upset with the news today. For too long, the MNKD board has allowed the lack of support from the MANN foundation to fester. Its time for them to set up meetings at John Hopkins, etc. And if the Mann Foundation doesn't get on board to help, then perhaps a leadership change within the MNKD board itself is warranted. Shareholders - Its time to demand that our board step up to the plate. For too long board members have been sitting on the sidelines. They need to take the General McArthur approach and get into the field and assist the salesforce through their relationships. For example, we have only 1+ doctor at John Hopkins prescribing afrezza. A school that has received enormous amounts of money from Al Mann and they can't assist the salesforce by allowing them to introduce Afrezza? Our board should have taken care of this 2+ years ago. This is exactly why we need a leadership change on the MNKD board. Very misguided and uninformed, both in purpose and means. Others have addressed the foundation issue. As for the BOD and Mike making demands on them or else, the pecking order is that the Board tells Mike what do do and not the other way around. While Al Mann was both CEO and COB and controlled a bunch of stock, and so had a lot of sway with if not control of the Board , Mike is neither COB nor founder of the company nor a major stockholder. The Board hired, and can fire Mike. Not the other way around.
You (presuming you own MNKD stock) and the other stockholders choose the members of the Board every year. So if you want a change in the Board membership, get going. Get the stockholder mailing list from MNKD and make your recommendations to the other stockholders, or at least get in touch with the institutional investors who are major stockholders and see what they think. The deadline for submitting stockholder proposals for the next annual meeting of shareholders is fast approaching, if it has not already passed. Good luck.
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Post by agedhippie on Dec 23, 2018 14:02:13 GMT -5
Has there been any statement from the management about reason for this offering at all? Yes, the management's statement is the prospectus. |
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Post by MnkdWASmyRtrmntPlan on Dec 23, 2018 17:07:08 GMT -5
Surely there is a logical explanation for the offering. Mike probably simply had a deal lined up that didn't end up working out, so he had to do this without much time for planning or communicating.
Things will work out next year. But for now, it's a great buying opportunity!
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Post by morfu on Dec 23, 2018 19:30:07 GMT -5
Surely there is a logical explanation for the offering. Mike probably simply had a deal lined up that didn't end up working out, so he had to do this without much time for planning or communicating. Things will work out next year. But for now, it's a great buying opportunity!
>> Please share your CT. My cutie is mine, you will never have her! (what do you mean CT?)
>> Yes, the management's statement is the prospectus.
Do you have a link for this?
>> "it's a great buying opportunity!"
You will need to increase your shares by about 30% in order to keep your relative part in the company! But I also don`t understand the market reaction to that.. Supposedly, some lucky dude got a big part of the company by cheaply buying shares and warrants way under the market price. While I am still waiting for a good reason that the management gave away that shares so cheap, it only increases the value of the company! My whole critic is based on the fact that the price was not the market prices, so there it should really be only "that dude" caring about it, for all others the situation of the company got more stable! Is it just an attempt of the shorts driving "that dude" out of the deal??
Then perhaps he should invest his 40mil to buy shares on the market like all of us..
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Post by agedhippie on Dec 24, 2018 11:24:52 GMT -5
>> Yes, the management's statement is the prospectus.
Do you have a link for this? Email the address given in the PR if you want the final prospectus, or look in the SEC filings. |
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Post by mnkdfann on Dec 24, 2018 11:43:08 GMT -5
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Post by nylefty on Dec 24, 2018 12:15:32 GMT -5
USE OF PROCEEDS Except as described in any prospectus supplement or in any related free writing prospectus that we may authorize to be provided to you, we currently intend to use the net proceeds from the sale of securities under this prospectus for general corporate purposes, including manufacturing expenses, clinical trial expenses, research and development expenses, sales and marketing expenses, general and administrative expenses, and other expenses associated with the commercialization of AFREZZA, any other product candidate we develop and our Technosphere drug delivery platform. We may also use a portion of the net proceeds to in-license, invest in or acquire businesses or technologies that we believe are complementary to our own, although we have no current plans, commitments or agreements with respect to any acquisitions. As of the date of this prospectus, we cannot specify with certainty all of the particular uses of the proceeds from the sale of securities under this prospectus. Accordingly, we will retain broad discretion over the use of such proceeds. Pending the use of the net proceeds from the sale of securities under this prospectus as described above, we intend to invest the net proceeds in investment-grade, interest-bearing instruments. |
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Post by morfu on Dec 24, 2018 18:25:36 GMT -5
USE OF PROCEEDS Except as described in any prospectus supplement or in any related free writing prospectus that we may authorize to be provided to you, we currently intend to use the net proceeds from the sale of securities under this prospectus for general corporate purposes, including manufacturing expenses, clinical trial expenses, research and development expenses, sales and marketing expenses, general and administrative expenses, and other expenses associated with the commercialization of AFREZZA, any other product candidate we develop and our Technosphere drug delivery platform. We may also use a portion of the net proceeds to in-license, invest in or acquire businesses or technologies that we believe are complementary to our own, although we have no current plans, commitments or agreements with respect to any acquisitions. As of the date of this prospectus, we cannot specify with certainty all of the particular uses of the proceeds from the sale of securities under this prospectus. Accordingly, we will retain broad discretion over the use of such proceeds. Pending the use of the net proceeds from the sale of securities under this prospectus as described above, we intend to invest the net proceeds in investment-grade, interest-bearing instruments. hmm.. management speak for "hot air bubble" . . I only read "we have no current plans" but I must be wrong.. it`s not a conspiracy, they just say that they give these shares away under value for no apparent reason! |
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Post by Chris-C on Dec 25, 2018 2:02:07 GMT -5
The point is not for the AMF foundation to give a boat load of money to mankind. The AMF foundation has connections to USC and John hopkins, which all have endo facilities that have not given Mannkind sales reps an opportunity to make the “sales pitch”. Given all the money al has donated over the wars to the school, one would think that the university at the very least would set up a meeting for mannkind. I can tell you that as a former senior administrator in a medical university, reputable institutions are very careful about actions that can be misinterpreted as violating strict conflict of interest guidelines. Even setting up meetings, especially when involving commercial interests or donors, can be seen as ethically problematic, especially if they appear to be quid pro quo arrangements. Such ethical lapses also threaten the tax exempt status of universities; as the IRS has become very watchful of non-profits being used as tax sheltering schemes for personal or commercial interests. For example, if Mr. Mann were alive, and his Foundation gave money to university x, then asked university x to use that money to do research on products in which he had a commercial interest, it would violate both the spirit and letter of regulations governing tax exempt organizations.Most scientists and academic administrators work hard to avoid conflict of interest and its perception, because even being accused of such violations can taint a research career or worse, tarnish an institution's hard earned reputation in the scientific community. I respectfully suggest we move on from pointless discussions whose purpose seems rooted in venting about events that have already taken place. Happy holidays. Chris C |
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