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Cash
Oct 14, 2016 11:16:23 GMT -5
Post by dictatorsaurus on Oct 14, 2016 11:16:23 GMT -5
Even if the cash position is extended for another 6 - 7 months, would that still be enough?
The script trend is not much of a trend. Lots of irregularities none of which are positive.
This week's scripts increased by 4%. Next weeks numbers will probably drop due to Columbus day. At this rate I'm wondering what will make a difference.
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Cash
Oct 14, 2016 11:21:18 GMT -5
Post by compound26 on Oct 14, 2016 11:21:18 GMT -5
I think the label has already been submitted for change. I think mnkd cares is handling all insurance issues now. I think mann foundation is another option to help financially. I think scripts need to continue to increase so we can get another partner. I think No to dilution. I think no to R/S. I think time is running out!! saxcmann about the label change, "I think the label has already been submitted for change". This is just your guess, correct? I want to see if you have any source of information on that.
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Cash
Oct 14, 2016 12:03:57 GMT -5
peppy likes this
Post by fiddler on Oct 14, 2016 12:03:57 GMT -5
I think the label has already been submitted for change. I think mnkd cares is handling all insurance issues now. I think mann foundation is another option to help financially. I think scripts need to continue to increase so we can get another partner. I think No to dilution. I think no to R/S. I think time is running out!! If the label change has been submitted it should show up on the FDA website. I couldn't find it.
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Post by saxcmann on Oct 14, 2016 13:13:53 GMT -5
I think the label has already been submitted for change. I think mnkd cares is handling all insurance issues now. I think mann foundation is another option to help financially. I think scripts need to continue to increase so we can get another partner. I think No to dilution. I think no to R/S. I think time is running out!! saxcmann about the label change, "I think the label has already been submitted for change". This is just your guess, correct? I want to see if you have any source of information on that. Not a guess. I have reasons to believe mnkd is in discussions with fda about label change. Can't say much more than that. We'll see if I'm right next time mnkd talks.
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Post by surplusvalue on Oct 14, 2016 13:39:29 GMT -5
Even if the cash position is extended for another 6 - 7 months, would that still be enough? The script trend is not much of a trend. Lots of irregularities none of which are positive. This week's scripts increased by 4%. Next weeks numbers will probably drop due to Columbus day. At this rate I'm wondering what will make a difference.This is a continuation of the earlier post I made at the beginning of this thread. Make no mistake or think naively, this is a targeted stock/company (.05 ?) with heavy manipulation (short interest, HFT and dark pool activity). At this point increasing scripts will not be enough;it's going to take a long time in a slow process to reach scripts numbers significant enough for the market to effect the downward spiral of the share price and provide some stability for the company as a whole. The same applies to any label change. Even so the question now is about the survivability of the company itself (not just about afrezza). So even if scripts increase, the cash issue is paramount. I do not understand why management hasn't addressed this at all, why the silence is deafening? Even if MNKD isnt worried and they have something to deal with the cash issue why not tell the market? It's no secret that MNKD is in trouble so why keep any potential solution secret? Even if they have in mind to do a reverse split which I have argued is not going to do them any good (its a signal of desperation which fools no one) or if more dilution then why not let everyone know now? Its not going to make any difference if they address it now or later as the reaction will be the same. In fact leaving this so long is worse as the company continues to bleed out even with better scripts. To be honest, this CEO/CFO has done a formidable job of turning the ship around and restructuring MNKD with 2.0, but I do not think he knows how to interact with the market i.e present the company to the market. Its not enough to keep your attention inward and make things right internally, you need to keep your attention outward at the same time to provide guidance to the external market. I dont know why the CEO/CFO cant see this??
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Cash
Oct 15, 2016 22:26:27 GMT -5
Post by surplusvalue on Oct 15, 2016 22:26:27 GMT -5
Even if the cash position is extended for another 6 - 7 months, would that still be enough? The script trend is not much of a trend. Lots of irregularities none of which are positive. This week's scripts increased by 4%. Next weeks numbers will probably drop due to Columbus day. At this rate I'm wondering what will make a difference.This is a continuation of the earlier post I made at the beginning of this thread. Make no mistake or think naively, this is a targeted stock/company (.05 ?) with heavy manipulation (short interest, HFT and dark pool activity). At this point increasing scripts will not be enough;it's going to take a long time in a slow process to reach scripts numbers significant enough for the market to effect the downward spiral of the share price and provide some stability for the company as a whole. The same applies to any label change. Even so the question now is about the survivability of the company itself (not just about afrezza). So even if scripts increase, the cash issue is paramount. I do not understand why management hasn't addressed this at all, why the silence is deafening? Even if MNKD isnt worried and they have something to deal with the cash issue why not tell the market? It's no secret that MNKD is in trouble so why keep any potential solution secret? Even if they have in mind to do a reverse split which I have argued is not going to do them any good (its a signal of desperation which fools no one) or if more dilution then why not let everyone know now? Its not going to make any difference if they address it now or later as the reaction will be the same. In fact leaving this so long is worse as the company continues to bleed out even with better scripts. To be honest, this CEO/CFO has done a formidable job of turning the ship around and restructuring MNKD with 2.0, but I do not think he knows how to interact with the market i.e present the company to the market. Its not enough to keep your attention inward and make things right internally, you need to keep your attention outward at the same time to provide guidance to the external market. I dont know why the CEO/CFO cant see this?? I have sent an email to MNKD asking about addressing this exact issue (see above). Of course, they will not reveal any material information. I dont expect them to. However, some general indication that they intend to address this issue in the next month or so or at the next CC or before the end of 2016 would be nice. We'll see, but I suspect no response at all will be forthcoming.
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Cash
Oct 16, 2016 11:14:56 GMT -5
benh likes this
Post by matt on Oct 16, 2016 11:14:56 GMT -5
Even so the question now is about the survivability of the company itself (not just about afrezza). So even if scripts increase, the cash issue is paramount. I do not understand why management hasn't addressed this at all, why the silence is deafening? Even if MNKD isnt worried and they have something to deal with the cash issue why not tell the market? It's no secret that MNKD is in trouble so why keep any potential solution secret? Fair questions, but I think the silence may be reflective of the fact that the company has few options that it can pursue and any comment would tank the share price. Before you say anything, I agree that it is illogical that the share price should be affected if management just says what everybody already knows, but that is precisely what happens in the real world. If management does plan to use the ATM to any significant extent, the share price matters. There are 16.1 million shares left on the ATM registration statement and at the current price of 50 cents, that nets a maximum of $8 million in proceeds.
I am sure Matt has spoken to a small army of investment bankers, potential partners, creditors, and lawyers looking for any way he can to extend the cash runway but, given the silence, none of those have come to fruition and as the weeks pass any leverage MNKD had is going away. At some point the smart move for any company interested in the technology is to just sit on their hands and wait for a liquidity crisis that forces MNKD to seek court protection. At that point the desirable assets can be had for pennies on the dollar without taking on creditor claims, shareholders, or pending legal issues. That result would be terrible for shareholders of course, but this is business and a prudent buyer can get a better deal with lower risk simply by waiting.
If there is a rabbit in the hat, now is the time to pull it out.
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Cash
Oct 16, 2016 11:37:04 GMT -5
Post by lennymnkd on Oct 16, 2016 11:37:04 GMT -5
With the interllectual properties ! And state of the art manufacturing facilities ... Could this not be sold to more than one buyer ?
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Post by rockstarrick on Oct 16, 2016 12:10:47 GMT -5
Even so the question now is about the survivability of the company itself (not just about afrezza). So even if scripts increase, the cash issue is paramount. I do not understand why management hasn't addressed this at all, why the silence is deafening? Even if MNKD isnt worried and they have something to deal with the cash issue why not tell the market? It's no secret that MNKD is in trouble so why keep any potential solution secret? Fair questions, but I think the silence may be reflective of the fact that the company has few options that it can pursue and any comment would tank the share price. Before you say anything, I agree that it is illogical that the share price should be affected if management just says what everybody already knows, but that is precisely what happens in the real world. If management does plan to use the ATM to any significant extent, the share price matters. There are 16.1 million shares left on the ATM registration statement and at the current price of 50 cents, that nets a maximum of $8 million in proceeds.
I am sure Matt has spoken to a small army of investment bankers, potential partners, creditors, and lawyers looking for any way he can to extend the cash runway but, given the silence, none of those have come to fruition and as the weeks pass any leverage MNKD had is going away. At some point the smart move for any company interested in the technology is to just sit on their hands and wait for a liquidity crisis that forces MNKD to seek court protection. At that point the desirable assets can be had for pennies on the dollar without taking on creditor claims, shareholders, or pending legal issues. That result would be terrible for shareholders of course, but this is business and a prudent buyer can get a better deal with lower risk simply by waiting.
If there is a rabbit in the hat, now is the time to pull it out.
"That result would be terrible for shareholders" I would guess the fact that the late Al Mann and his beneficiaries having such a large portion of our outstanding shares would most likely encourage the Company to seek the type of financing that would be less detrimental to all shareholders. Another reason why I added another 10k Hope I'm right. good luck all
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Oct 16, 2016 13:37:45 GMT -5
Post by lennymnkd on Oct 16, 2016 13:37:45 GMT -5
Remember ! Technosphere avoids first pass hepatic metabolism !! The applications for drugs are literlly infinite as time goes on and more drugs are discovered .. In some instances less volume of drugs will be needed for equal results .. Cost effective for expensive medicine . Not to mention, less toll taken on the human body in the metabolism process .
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Cash
Oct 16, 2016 14:51:40 GMT -5
Post by matt on Oct 16, 2016 14:51:40 GMT -5
With the interllectual properties ! And state of the art manufacturing facilities ... Could this not be sold to more than one buyer ? A MNKD deal would come with a lot of complications that, quite frankly, aren't worth it for most companies. If a large company buys MNKD then they are taking on all the legacy contracts, shareholders, potential lawsuits, environmental history, debt obligations, and so forth while if the buyers wait until the company is under court protection they can grab the specific assets they desire without assuming any liabilities. Typical bankruptcy auctions go quickly, generally 21 days from the time the judge approves a sale order to closing, and the terms are normally all cash.
Under those conditions there are few bidders, and the bidders that do exist have usually been stalking the assets for a while. IP, in particular, requires some thought before making an offer and most companies just aren't willing to pay anything significant for patents without doing a lot of detailed diligence, and the speed of auctions prevents that. In any event, a buyer that wants the manufacturing facility will have to deal with Deerfield Partners since the manufacturing assets secure the Deerfield notes, and a court filing does not override the existing lien under the UCC so the plant will likely go in an Article 9 sale if it comes to that.
As I said above, if there is a rabbit in the hat now is the time to show the bunny!
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Oct 16, 2016 15:27:06 GMT -5
Post by lennymnkd on Oct 16, 2016 15:27:06 GMT -5
Depressing , but sounds real . Thanks I guess !
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Cash
Oct 16, 2016 15:38:20 GMT -5
Post by Deleted on Oct 16, 2016 15:38:20 GMT -5
With the interllectual properties ! And state of the art manufacturing facilities ... Could this not be sold to more than one buyer ? A MNKD deal would come with a lot of complications that, quite frankly, aren't worth it for most companies. If a large company buys MNKD then they are taking on all the legacy contracts, shareholders, potential lawsuits, environmental history, debt obligations, and so forth while if the buyers wait until the company is under court protection they can grab the specific assets they desire without assuming any liabilities. Typical bankruptcy auctions go quickly, generally 21 days from the time the judge approves a sale order to closing, and the terms are normally all cash.
Under those conditions there are few bidders, and the bidders that do exist have usually been stalking the assets for a while. IP, in particular, requires some thought before making an offer and most companies just aren't willing to pay anything significant for patents without doing a lot of detailed diligence, and the speed of auctions prevents that. In any event, a buyer that wants the manufacturing facility will have to deal with Deerfield Partners since the manufacturing assets secure the Deerfield notes, and a court filing does not override the existing lien under the UCC so the plant will likely go in an Article 9 sale if it comes to that.
As I said above, if there is a rabbit in the hat now is the time to show the bunny! Matt, you and said that management, should they decide that ch 11 is the only option needs to file at a point in time where there is enough cash left to take the company through the process. In your opinion, how much cash would MNKD need to complete a ch 11? I cannot access Mannkinds website now but if they are still burning $10 mm / mo and they have enough cash to get the to Q1 '17 (per Matt P), my guess is that today, they have around $30 - $33 mm. Trying to get a handle on how much cash they have to run company and drop dead date they would need to file by. Per your earlier comments, you indicated that if the filing is inevitable, they would likely do so in conjunction with the next PR for the Q. Thanks,
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Cash
Oct 16, 2016 17:38:59 GMT -5
Post by agedhippie on Oct 16, 2016 17:38:59 GMT -5
Matt, you and said that management, should they decide that ch 11 is the only option needs to file at a point in time where there is enough cash left to take the company through the process. In your opinion, how much cash would MNKD need to complete a ch 11? I cannot access Mannkinds website now but if they are still burning $10 mm / mo and they have enough cash to get the to Q1 '17 (per Matt P), my guess is that today, they have around $30 - $33 mm. Trying to get a handle on how much cash they have to run company and drop dead date they would need to file by. Per your earlier comments, you indicated that if the filing is inevitable, they would likely do so in conjunction with the next PR for the Q. Thanks, That needs to be $30 million in hard cash if they went into Ch 11, you need to exclude the Mann Group loan and the ATM.
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Cash
Oct 16, 2016 18:51:56 GMT -5
Post by nimrod71 on Oct 16, 2016 18:51:56 GMT -5
This whole situation stinks, my gut is telling me bankruptcy is unavoidable at this point. If you can't sell your only product and there is little time or money left oh well you no the story. I guess i'm out my 40,000.00. God I want to cry.
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