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Post by u1682002 on Aug 3, 2018 14:51:16 GMT -5
Today's event is perfectly timed attach from shorts and this is a real test to Mike. If Mike choose to wait for a few days to respond, then the damage may never be repaired.
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Post by peppy on Aug 3, 2018 14:54:40 GMT -5
Today's event is perfectly timed attach from shorts and this is a real test to Mike. If Mike choose to wait for a few days to respond, then the damage may never be repaired. I do not understand. this is the stock market, the SEC. how could Mike/management respond? Mike/board knows they need cash. Mike didn't talk about it much on the CC.
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Post by uvula on Aug 3, 2018 14:58:31 GMT -5
All mike could say is "we are not aware of any reason for today's share price action". Not sure how that would help anything.
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Post by u1682002 on Aug 3, 2018 15:03:44 GMT -5
Simple. Simply send out a tweet to repeat the statements that Mike made yesterday about the "potential sources to complete recapitalization.
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Post by hammer on Aug 3, 2018 15:07:39 GMT -5
Hopefully they respond by selling rights for China or other large non US region for enough cash to continue operations until US becomes profitable. If for no other reason than to piss off BP and put them on notice they won't pick up the pieces. Ultimately, I would rather see it sold for something rather than stolen for pennies.
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Post by cretin11 on Aug 3, 2018 15:07:41 GMT -5
Simple. Simply send out a tweet to repeat the statements that Mike made yesterday about the "potential sources to complete recapitalization. That wouldn't help at all.
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Post by mytakeonit on Aug 3, 2018 15:22:04 GMT -5
Seems like a normal trading day from last year ... only 11M shares traded ?
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Post by tinkusr8215 on Aug 3, 2018 15:22:59 GMT -5
Simple. Simply send out a tweet to repeat the statements that Mike made yesterday about the "potential sources to complete recapitalization. and that would make the people who are selling - to stop selling and start buying. Who ever is selling already would know that.
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Post by lennymnkd on Aug 3, 2018 15:31:12 GMT -5
All mike could say is "we are not aware of any reason for today's share price action". Not sure how that would help anything. So it’s a good buying opportunity
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Post by kenken on Aug 3, 2018 15:38:53 GMT -5
Funny, The Pinnacle of seven sisters may decide that have to save European Novo, Amgen and Sanofi is more important, before it gets too late. Chapter 13 BK is the near term solution but will give existing shareholders some WRTs to purchase new shares after reorganization. Amen.
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Post by peppy on Aug 3, 2018 15:41:38 GMT -5
Funny, The Pinnacle of seven sisters may decide that have to save European Novo, Amgen and Sanofi is more important, before it gets too late. Chapter 13 BK is the near term solution but will give existing shareholders some WRTs to purchase new shares after reorganization. Amen. In other words, Afrezza so dangerous to Novo, Amgen and Sanofi that a decision was made to take us out? why not buy MNKD instead?
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Post by kenken on Aug 3, 2018 15:45:24 GMT -5
That is the way it is, off street.
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Post by peppy on Aug 3, 2018 15:47:54 GMT -5
That is the way it is, of street. heh, you are a keep it simple kind of guy?
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Post by matt on Aug 3, 2018 16:20:05 GMT -5
Hopefully they respond by selling rights for China or other large non US region for enough cash to continue operations until US becomes profitable. That deal needs to be 90% done as of today or it will not happen in time. The company is almost certainly below $20 million in cash as I write this, and will definitely be below the $20 million Deerfield covenant at the end of Q3 which is only eight weeks away. It takes time to find a licensee, negotiate a deal, draw up contracts, deal with the Amphastar rights to China, and close the transaction; with vacation season upon us that is unlikely to happen unless something is already well underway. The need for cash is immediate and the only way to settle the market is to remove the risk of insolvency. Long-term ideas for non-dilutive financings are great, but the company burned through $27 million in cash to finance operations in Q2 and they had only $26 million left on June 30. The only prudent thing to do is to get some more cash in the bank in the coming week or two, however that is accomplished.
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Post by dg1111 on Aug 3, 2018 16:26:15 GMT -5
As far as a management response, a modest insider buy would probably go a long way.
As far as today’s action, what are the terms for the ATM? Any chance we tapped that to get about 1 month’s runway? Maybe get a little more time to get a deal done?
I listened to yesterday’s call while I was doing something else, so I may have missed it, but I was expecting some update on the term sheets Mike alluded to last quarter. I didn’t notice that on the call. Based on previous calls, I would think those term sheets would be close to final by now, but not hearing anything yesterday leads me to think we hit a roadblock.
I was able to add to my position at 1.08, maybe against my better judgment.
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