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Post by wyattdog on May 27, 2020 16:14:24 GMT -5
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Post by boca1girl on May 27, 2020 16:44:38 GMT -5
It states that they received $12.5M from UT on May 21 with one more $12.5M to go.
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Post by awesomo on May 27, 2020 17:32:54 GMT -5
This is exactly why common shareholders will never win. Notice how all the broker non-votes magically voted yes for the "Charter Amendment" (additional shares) while "abstaining" on other things like the "Plan Amendment" and nomination of board members. 40.8M shares voted against the additional shares so they would have lost if not for those 105.6M "broker non-votes".
• Our stockholders approved the Charter Amendment. The tabulation of votes on this matter was as follows: shares voted for: 126,692,259; shares voted against: 40,863,104; shares abstaining: 2,774,238; and broker non-votes: zero.
• Our stockholders approved the Plan Amendment. The tabulation of votes on this matter was as follows: shares voted for: 46,076,940; shares voted against: 17,217,362; shares abstaining: 1,474,263; and broker non-votes: 105,561,036.
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Post by awesomo on May 27, 2020 17:41:28 GMT -5
Just to reiterate, about 65 million shares actually voted, and 41M voted against additional shares, but because the BoD/executive team are able to tap into the "broker non-votes" whenever they need to, it is almost impossible for them to lose a vote.
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Deleted
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Post by Deleted on May 27, 2020 19:17:38 GMT -5
It states that they received $12.5M from UT on May 21 with one more $12.5M to go. NOT QUITE......It says they have achieved the development milestone which they are entitled to the $12.5M Payment. I'm pretty sure that wasone of the reasons for the meeting this week. UTHR will review the requirement and will decide if it meets the agreement and then payment will be released. Let's keep in mind.....There's a chance UTHR will not make the payment. Just because MNKD says they have met their requirement doesn't mean it meets UTHR. It's not done until the Money is in the BANK. ---- On May 21, 2020, the Company achieved the third of four specified development milestones under its licensing and collaboration agreement with United Therapeutics, dated September 3, 2018, for the development and commercialization of a dry powder formulation of treprostinil, entitling the Company to a payment of $12.5 million. Treprostinil Technosphere (“TreT”) is an investigational product currently being evaluated in clinical trials for the treatment of pulmonary arterial hypertension. Pursuant to the agreement, the Company is eligible to earn an additional milestone payment of $12.5 million upon the achievement of a defined development milestone. The Company is also entitled to receive low double-digit royalties on net sales of TreT. |
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Post by Deleted on May 27, 2020 19:19:44 GMT -5
This is exactly why common shareholders will never win. Notice how all the broker non-votes magically voted yes for the "Charter Amendment" (additional shares) while "abstaining" on other things like the "Plan Amendment" and nomination of board members. 40.8M shares voted against the additional shares so they would have lost if not for those 105.6M "broker non-votes".• Our stockholders approved the Charter Amendment. The tabulation of votes on this matter was as follows: shares voted for: 126,692,259; shares voted against: 40,863,104; shares abstaining: 2,774,238; and broker non-votes: zero. • Our stockholders approved the Plan Amendment. The tabulation of votes on this matter was as follows: shares voted for: 46,076,940; shares voted against: 17,217,362; shares abstaining: 1,474,263; and broker non-votes: 105,561,036. No kidding.....Common shareholders are at the BOTTOM of the TOTEM POLE. We get shitted on when things go bad and we have NO INFLUENCE. BUT if the stocks goes to $50.....EVERYONE WINS. |
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Post by mnkdfann on May 27, 2020 19:46:01 GMT -5
This is exactly why common shareholders will never win. Notice how all the broker non-votes magically voted yes for the "Charter Amendment" (additional shares) while "abstaining" on other things like the "Plan Amendment" and nomination of board members. 40.8M shares voted against the additional shares so they would have lost if not for those 105.6M "broker non-votes".• Our stockholders approved the Charter Amendment. The tabulation of votes on this matter was as follows: shares voted for: 126,692,259; shares voted against: 40,863,104; shares abstaining: 2,774,238; and broker non-votes: zero. • Our stockholders approved the Plan Amendment. The tabulation of votes on this matter was as follows: shares voted for: 46,076,940; shares voted against: 17,217,362; shares abstaining: 1,474,263; and broker non-votes: 105,561,036. I suspect it is not a matter of them abstaining, I think it is that they are not entitled to vote on all agenda items. (And when they are allowed and do vote, it is only because the actual shareholders opted not to.) My guess is that a Charter Amendment is non-routine, so brokers were ineligible to vote on that matter. www.broadridge.com/ca/article/dont-let-broker-non-votes-hold-you-backBroker non-votes are activated in cases where a beneficial shareholder does not give voting instructions to the broker, bank or other nominee holding the shares “in street name.” In most cases, beneficial shareholders can give voting instructions to the broker or banker, who then returns a proxy on behalf of the entitled shareholder.
When entitled shareholders fail to provide voting instructions, the broker is still permitted to vote on behalf of the shareholder, but only on routine agenda items. Regulations prevent brokers from casting votes on non-routine agenda items.
In practice, routine items almost exclusively involve matters related to director elections and the appointment of auditors. Everything else is considered, by rule, non-routine. Non-routine matters are those that substantially impact the rights and privileges of shareholders. Among other things, this may include: mergers, advisor and sub-advisor changes, redomiciles and investment objective proposals.
In cases where both routine and non-routine items are on the agenda, the broker may cast a vote for or against the routine items only. These votes are counted toward quorum and the proxy preference is registered. At the same time, the BNV is activated for the non-routine items. Importantly, the BNV — while also counting toward quorum — is always tabulated as an against vote. As a result, the BNV has a positive impact on the quorum and a negative impact on the favorable percentage for non-routine matters. |
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