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Post by n8 on May 30, 2017 13:09:38 GMT -5
"So from your vast experience with companies facing liquidity issues, please point me to a transcript of a management conference call for me to understand these "visible concern" clues that companies always give. Many many companies go bankrupt, so I'm just wondering what it is that you normally see ahead of time... does the CEO normally start the call with "for the love of humanity, this job sucks... grab your life jackets we're going down!"
As I grow older, I pay less attention to what men say. I just watch what they do. Andrew Carnegie
So far I seen mostly good things since Matt and Mike grabbed the bull by the horns....
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Post by dreamboatcruise on May 30, 2017 13:21:08 GMT -5
Is it possible that Mike will be heading the Afrezza US company and that Matt moves over to RLS or a Technosphere spin off? For Matt to just disappear after July seems odd. I have been disappointed that Matt hasn't been a dynamic leader like an Elon Musk, but he has been able to keep the financial ship afloat through the transition from SNY. I'm also concerned about Mike's ability to be CEO and that he would be the 5th named in the last two years (Mann, Haken, Desoto, Matt, Mike), unless there is another big announcement coming shortly with $$$ and partnerships ex-US. To me it would seem strange if Matt has negotiated a partnership for ex-US and it is about to close, that even if BoD has reason they want to get rid of Matt that they would do it in a way where the deal gets closed under Mike's leadership. Seems like the decision would be to let Matt close the deal and then have the PR congratulate him for that and leaving no question that Mike was taking over "from a position of strength" (reusing management's own phrase). No one knows what is going on behind the scenes (and anyone claiming otherwise is simply engaging in BS). Perhaps there is some deal that is still active and drawing to conclusion, but it could also be that some deal that was looking promising started to unravel and the board lost confidence in Matt. A technosphere spin off? They don't have the money to do that. To my knowledge management has never even talked about the possibility of that.
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Post by dreamboatcruise on May 30, 2017 13:40:19 GMT -5
"So from your vast experience with companies facing liquidity issues, please point me to a transcript of a management conference call for me to understand these "visible concern" clues that companies always give. Many many companies go bankrupt, so I'm just wondering what it is that you normally see ahead of time... does the CEO normally start the call with "for the love of humanity, this job sucks... grab your life jackets we're going down!"
As I grow older, I pay less attention to what men say. I just watch what they do. Andrew Carnegie
So far I seen mostly good things since Matt and Mike grabbed the bull by the horns.... I'm somewhat encouraged by what I see. I even bought some call options a few weeks ago (though puts as well). I give Matt credit for the deals with SNY and AMPH end of last year to extend the runway... and I stated it then. I'm optimistic that Mike has now turned the tide and revenue is on what will be a sustained upward trajectory. Only problem is that it is simply impossible for revenue to grow quickly enough to solve the pending liquidity crisis on its own. Matt pulled a rabbit in Nov. Is there one now in the works that for some reason the BoD wanted to allow Mike to steal the reveal applause? Can Mike conjure his own in the coming few months? I simply think this notion that companies signal bankruptcy months ahead of time by some "visible concern" to be horribly naive. If you don't want to take my word for it, read Proboard Matt's post here about what goes on behind the scenes as companies face liquidity issues. That very likely is happening as they are required by law to do these things. They'd also be crazy to not still be pursuing revenue expansion and partnerships as aggressively as possible. They would never ever show "visible concern" of bankruptcy (it merely gets put in financial disclosures). They've been cost cutting, but you don't cease activities to get out of the dilemma as that makes a successful bankruptcy reorg less likely. Unless a company wants to face having assets sold off, they need to continue to do all the things that would make them an ongoing success... and if they can show that liquidity is indeed what is holding them back (can't do that giving up ahead of time), they bite the bullet and go through a reorg and recapitalization.
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Post by centralcoastinvestor on May 30, 2017 13:53:21 GMT -5
For myself, I have really appreciated Matt. He stepped up when MannKind was in severe crisis at a time when not many would. His quiet personality probably isn't the best CEO fit for a company that needs a bigger personality. IMHO, it is possible that Matt did exactly what the board was hoping he would do and what was needed for the company. Considering that Matt is more comfortable as a CFO than a CEO, I bet that Matt is just plain tired. How many of you have had to work in a position that doesn't fit who you are? It's exhausting. My hat is off for Matt and wish him the best in his next endeavor. And my Pom Poms are out for Mike. Long live MannKind and Afrezza!
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Post by tchalaa on May 30, 2017 14:02:47 GMT -5
Super that is the way to..... wowhhhooo
Let me be clear: I'm totally grateful to matt for what he was able to achieve. Since SNY left us we needed number jagg someone with the ability to bring us back if not to the nearest to normal. As a CEO CFO he was the right man at the right place. Unfortunately from all his achievements it will be on record the share price tanked almost 92% because of the bad perception from the market. Beside that we were able to quickly reduced our debts, to stay afloat and even for the first time mnkd eps surpassed the street. All these were mandatory to succeed the transition from a biotechnology manufacturer to a biotechnology pharmacy commercial entity. As a leader he succeeded 101 getting the best team around him because he was greatly replaced by one of his team member having as major skills Business Commercial.
According to me the transition of Mannkind has Officially ended today with Mike becoming our new CEO with focus Sales Sales Expansion... he has shown us from OUTsulin till soon to be Amazon that Afrezza can sell and will sell
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Post by Deleted on May 30, 2017 14:27:23 GMT -5
I am surprised that people are surprised by the news. Congratulations Michael! Matt gave his heart and soul to Mannkind. I hope he does will on his options. I hope we all do well.
Matt's assistance or decision to hire Castagna was brilliant.
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Post by mytakeonit on May 30, 2017 14:42:48 GMT -5
I went thru a BK procedure many long years ago. I can feel for Matt being put out a little like the "problem child" ... because I was also deemed the same way. Even though I brought the company from negativity to profitability, the board felt that "new blood" was needed to really make it BIG. What eventually happened was near BK until we were bought out. Funny thing though when the new company came in to interview everyone ... I was one of three people that they wanted to hire and the other two were middle level people. I turned down the offer though ... and being a numbers guy ... I started day trading !!! Yahoooo !!!
Nuff about me ... but, I hope that Matt is taken care of and that he has a bright/healthy life ahead. I also welcome Castagna because he seems to be the perfect fit for the job.
I also love what I see in Mannkind's future ... but, that's just mytakeonit ...
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Post by tingtongtung on May 30, 2017 14:44:18 GMT -5
Is it possible that Mike will be heading the Afrezza US company and that Matt moves over to RLS or a Tehnosphere spin off? For Matt to just disappear after July seems odd. I have been disappointed that Matt hasn't been a dynamic leader like an Elon Musk, but he has been able to keep the financial ship afloat through the transition from SNY. I'm also concerned about Mike's ability to be CEO and that he would be the 5th named in the last two years (Mann, Haken, Desoto, Matt, Mike), unless there is another big announcement coming shortly with $$$ and partnerships ex-US. Very good point.. Matt stood up when no was there. Did some decent things with money, but screwed up (not overconfidence, but more of hoping things would become normal) too - especially not doing "10:1 and a dilution" (unless someone is buying them now for at least $10 now!). IMHO. Mike is a smart guy. But, he is still doing twitter talks to help individual patients. He cant do that being a CEO. He has to go up a layer to take care of the company events not just sales. There has to be a compromise for him. I hope that doesnt affect the sales. May be Matt wanted to give up CEO, but since CFO is considered as demotion (?), he decided to just go away? Or, may be RLS wants a no-nonsense guy to get them out of their own mess? Adding: I hope Matt gets treated well (money, options, etc). This thing is "nail biting" suspense. I hope we get all our money back "at least 20X" for enduring this :-)
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Post by tingtongtung on May 30, 2017 15:00:23 GMT -5
I went thru a BK procedure many long years ago. I can feel for Matt being put out a little like the "problem child" ... because I was also deemed the same way. Even though I brought the company from negativity to profitability, the board felt that "new blood" was needed to really make it BIG. What eventually happened was near BK until we were bought out. Funny thing though when the new company came in to interview everyone ... I was one of three people that they wanted to hire and the other two were middle level people. I turned down the offer though ... and being a numbers guy ... I started day trading !!! Yahoooo !!! Nuff about me ... but, I hope that Matt is taken care of and that he has a bright/healthy life ahead. I also welcome Castagna because he seems to be the perfect fit for the job. I also love what I see in Mannkind's future ... but, that's just mytakeonit ... All of you guys lead a very interesting lives running companies, leading them out of BK, spinning numbers, and all exciting stuff? You, matt_PB (as in Proboards), few more (sorry forgot the names).. And, I'm the only one who is a stupid engineer building stuff for you people and making you guys rich? :-) Just kidding! I like what I do, and I'm sure MNKD will make me rich or will make me their next CEO!
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Post by ilovekauai on May 30, 2017 15:06:18 GMT -5
I just returned hone from my 6 month checkup with my endo for my diabetes. (T2). I quizzed her on Afrezza and discovered that she wasn't really prescribing it much (yet!), mainly due to proper dosage issues. I did my best to enlighten her on this. Regardless of that encounter, coming home to this news is incredible & awesome!
First off, IMO a deep debt of gratitude should be extended to Matt. Indeed as mentioned earlier in this thread, Matt pulled MNKD back from the abyss of total destruction. BP was/still is hellbent on preventing Afrezza from gaining a foothold in the market. Matt save our rear end to put it politely, and I will always, always, be in awe of what he accomplished in taking over MNKD under such such dire circumstances; Sanofi dumping us, (total set-up there), & the death of Al Mann. Bravo to Matt and a big Mahalo to him!!!
So, going back to my endo, the best I got out of her this morning in a positive vein was she does see a place regarding Afrezza for some patients, so that's a start, but as all us true Longs know we need more, much more. I'm way okay with her comments today. 6 months ago when I last saw her, she did not even know what Afrezza was! A toehold leads to a foot print, to a path, to a ledge, to a platform, to the mountaintop!
Regarding Michael C as our new CEO...yes absolutely!! My whole career, (retired now), was dedicated to sales and motivating my team. Michael is the right choice, at that right time, to lead this company! Timing is everything in life my fellow investors and we've got a bang-up, battle tested marketing warrior now to lead this company to the mountaintop. Congrats to Michael C as our new CEO & bravo to management for having the foresight & vision make this move!
We are on the path to victory now in this battle, this war, to change the standard treatment of care for diabetics worldwide! What a glorious day! I can see clearly now, the rain is gone! Aloha to all of you!!!
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Post by mytakeonit on May 30, 2017 15:09:01 GMT -5
Reading your post ting tong ... don't quit your day job. Just build me a car that will run on water and you'll be fine. AND, I don't mean a boat car. (I know engineers so had to post the addition.)
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Post by peppy on May 30, 2017 15:14:30 GMT -5
Super that is the way to..... wowhhhooo Let me be clear: I'm totally grateful to matt for what he was able to achieve. Since SNY left us we needed number jagg someone with the ability to bring us back if not to the nearest to normal. As a CEO CFO he was the right man at the right place. Unfortunately from all his achievements it will be on record the share price tanked almost 92% because of the bad perception from the market. Beside that we were able to quickly reduced our debts, to stay afloat and even for the first time mnkd eps surpassed the street. All these were mandatory to succeed the transition from a biotechnology manufacturer to a biotechnology pharmacy commercial entity. As a leader he succeeded 101 getting the best team around him because he was greatly replaced by one of his team member having as major skills Business Commercial. According to me the transition of Mannkind has Officially ended today with Mike becoming our new CEO with focus Sales Sales Expansion... he has shown us from OUTsulin till soon to be Amazon that Afrezza can sell and will sell"from OUTsulin till soon to be Amazon that Afrezza can sell and will sell"
hmmm. stockcharts.com/h-sc/ui?s=MNKD&p=D&b=5&g=0&id=p29923818298
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Post by tingtongtung on May 30, 2017 15:16:52 GMT -5
Reading your post ting tong ... don't quit your day job. Just build me a car that will run on water and you'll be fine. AND, I don't mean a boat car. (I know engineers so had to post the addition.) Sorry, no - cant do that! We dont have enough water to drink here(until last year) in CA, and you want your car to drink water too? You are really a CEO
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Post by seanismorris on May 30, 2017 15:27:17 GMT -5
We're going to have to agree to disagree regarding Matt's success as CEO.
I'd argue that we haven't had a CEO for MannKind since Al was CEO.
Then we had a COO promoted to CEO that wasn't able to speak to investors. (That oops is on Al)
Matt was an improvement but he was a decent CFO put in the CEO role. He was miscast...
Mike has the potential to be an excellent CEO. The first thing he needs to do is revamp the marketing effort. What marketing effort you ask? Exactly.
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Post by peppy on May 30, 2017 15:29:59 GMT -5
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