|
Post by mnholdem on Jul 18, 2019 19:37:53 GMT -5
If you cannot see that, except for surprise financing ventures like the $6 one a couple years ago and the UTHR deal last year, capital raises through dilution are a necessary evil, then....well...prepare to be surprised again and again. And it's not bad management that causes it, it's the situation the company has been digging itself out of for the last 2 1/2 years. From the RS on, dilution has been telegraphed. I just said exactly the opposite, that I was not surprised. I am fully aware that MNKD likely has little options other than continued dilution for quite some time to come. Can't understand why management is constantly setting themselves up for attack and erosion of credibility by trying to set expectations otherwise. It doesn't help that here on proboards those pointing out the reality of finances (here and people like SO) are constantly attacked for saying dilution is the probable outcome. Those attacks by the, shall we call them MNKD cheerleaders, combines with management's spin to convince some (but not me) that dilution is unlikely. That may create surprise in some... though not me. I was not surprised by any of the recent rounds of dilution. I would be very surprised (though happily so) if we don't have significant additional dilution in the future. Just wish management didn't shoot themselves in the foot constantly by trying to set unrealistic expectations with shareholders. Then you won’t be surprised at the possibility of another reversed split. Let’s assume that MannKind intends to pay off the Deerfield debt in order to secure new financing. Most of the largest capital providers rarely do business at favorable terms with a corporation whose share price is under $5. If MannKind’s revenue was rapidly growing and there was a reasonable timeline for achieving positive cash flow, MannKind would be in a position of strength in securing capital. That is not happening and there is little (excluding wishful thinking) to indicate any near-term change. I would not rule out anything at this point.
|
|
|
Post by sayhey24 on Jul 18, 2019 19:53:15 GMT -5
If warrants are not exercised they get underlying shares back by default. Why pay .13 for something that you will get back for free in December? Because those shares will be worth more than $1.73 before December... In your scenerio (above) the warrants would be exercised at $1.60 that goes into MannKind’s cash account. Why, then, would MannKind buy them back and immediately use the shares to pay off the debt at a value of $1.06? It does not make sense. I makes sense if Mike really expects the share price to spike and wanted DF out of the game. If we put our tin foil hats on and suspend disbelief for a moment and now 100% expect MNKD to be at $10 on 9/3, what Mike just did is genius. Then again the right partnerships and product announcements could do that.
|
|
|
Post by letitride on Jul 18, 2019 20:02:27 GMT -5
Seems to me every share we keep out of DF hands is one less share shorted at the most in opportune time for Mannkind shareholders. DF may have saved our asses but theres a high price to pay for low living.
|
|
|
Post by agedhippie on Jul 18, 2019 20:18:26 GMT -5
I makes sense if Mike really expects the share price to spike and wanted DF out of the game. If we put our tin foil hats on and suspend disbelief for a moment and now 100% expect MNKD to be at $10 on 9/3, what Mike just did is genius. Then again the right partnerships and product announcements could do that. ... and if the share price is still bouncing between $1 and $1.50 Mike is ineffectual, and if the price is under $1 heading for a reverse split he should be fired. Lets complete the options.
|
|
|
Post by radgray68 on Jul 18, 2019 20:30:09 GMT -5
I, like many here, thought that 5:1 RS was not enough. And, it's looking like that is the case. Anyway, I thought it should have been a 10:1 RS way back then.
|
|
|
Post by careful2invest on Jul 18, 2019 20:50:04 GMT -5
I, like many here, thought that 5:1 RS was not enough. And, it's looking like that is the case. Anyway, I thought it should have been a 10:1 RS way back then. If we’re going to take a ride on the hindsight train, The mistakes happened long before the reverse split! Go back several years ago when the stock was around $10 pps. and begin the count of blunders and oversights. My 8 plus years of my initial investment in this company has been painful! I realize that I am not alone! Still hanging around because Afrezza is That Good!! Not giving up yet! GLTA!
|
|
|
Post by sayhey24 on Jul 18, 2019 20:52:25 GMT -5
I makes sense if Mike really expects the share price to spike and wanted DF out of the game. If we put our tin foil hats on and suspend disbelief for a moment and now 100% expect MNKD to be at $10 on 9/3, what Mike just did is genius. Then again the right partnerships and product announcements could do that. ... and if the share price is still bouncing between $1 and $1.50 Mike is ineffectual, and if the price is under $1 heading for a reverse split he should be fired. Lets complete the options. I think you told us a few days ago MNKD is not going bankrupt. I think you pointed to NKTR. I am waiting for that spike. Many here voted for Mike as CEO of the year in 2018. Where they all wrong? Was Mike that good last year and so bad this year? IMO, MNKD has numerous money making opportunities which are near announcement. Lets see how the Q2 call goes in a few weeks. One thing we know is nothing is better than afrezza. Did you watch the Medscape lecture posted on another thread? IMO worth the time but in summary afrezza first afrezza always and RAA unpredictability and tails are always bad.
|
|
|
Post by agedhippie on Jul 18, 2019 20:59:31 GMT -5
How much is still due at the end of August? $5MM which is in Escrow. IMO MNKD is working on a total RECAP which will payoff DF and everyone else and add more capital w/ much better terms and a due date of 2025. I'm expecting a rate of 5.25%. I seriously doubt we get 5.25%. I would expect a lot near 9.5% or higher. Mannkind is a micro-cap - that's not a compelling loan candidate.
|
|
|
Post by lifebreath on Jul 18, 2019 21:01:14 GMT -5
I, like many here, thought that 5:1 RS was not enough. And, it's looking like that is the case. Anyway, I thought it should have been a 10:1 RS way back then. Slash overhead by 50% which will include many jobs and should include MC. We have a patient base already to provide revenue. Sign distribution deal with Vdex, give them their 20 states. The scripts will increase at a faster pace than they have been, Afrezza will build its reputation for efficacy. A better CEO will close more lucrative deals for techno. At a faster pace. No more dilution or reverse splits. Left out details but it’s a better strategy than the current mess.
|
|
|
Post by ilovekauai on Jul 18, 2019 21:05:47 GMT -5
It's reasonable to assume, (if one is speculating on five more years of continued small time growth), that another r/s will happen eventually. Fasten your seeatbelts.
|
|
|
Post by sportsrancho on Jul 18, 2019 21:08:24 GMT -5
It's reasonable to assume, (if one is speculating on five more years of continued small time growth), that another r/s will happen eventually. Fasten your seeatbelts. So what’s the plan:-) if that’s the case I’m jumping the heck out!
|
|
|
Post by ilovekauai on Jul 18, 2019 21:10:19 GMT -5
Good question for MC at the next cc in a few weeks.
|
|
|
Post by agedhippie on Jul 18, 2019 21:10:24 GMT -5
... and if the share price is still bouncing between $1 and $1.50 Mike is ineffectual, and if the price is under $1 heading for a reverse split he should be fired. Lets complete the options. I think you told us a few days ago MNKD is not going bankrupt. I think you pointed to NKTR. I am waiting for that spike. Many here voted for Mike as CEO of the year in 2018. Where they all wrong? Was Mike that good last year and so bad this year? IMO, MNKD has numerous money making opportunities which are near announcement. Lets see how the Q2 call goes in a few weeks. One thing we know is nothing is better than afrezza. Did you watch the Medscape lecture posted on another thread? IMO worth the time but in summary afrezza first afrezza always and RAA unpredictability and tails are always bad. I still don't think Mannkind is going bankrupt, reverse splits and dilution can keep it going indefinitely - look at DRYS chart over the last 5 years to see how this can go. As to Mike and CEO of the year; I doubt you will ever have found me arguing for that! As to why did people vote for that and appear to be against him now? You have to ask them, but I would just say that people change their minds or we would never have elections. I confess I haven't watched the Medscape lecture. I doubt it would tell me anything I don't already know, and equally that it will have any noticeable impact on scripts. As to the content; I know your position on tails, you know mine. I will leave that one there.
|
|
|
Post by goyocafe on Jul 18, 2019 21:14:08 GMT -5
Good question for MC at the next cc in a few weeks. He won’t blink until the PR is issued.
|
|
|
Post by lifebreath on Jul 18, 2019 21:28:37 GMT -5
It's reasonable to assume, (if one is speculating on five more years of continued small time growth), that another r/s will happen eventually. Fasten your seeatbelts. So what’s the plan:-) if that’s the case I’m jumping the heck out! Shareholders need to keep the pressure on BOD to bring in a ceo that can manage this company the way it should be. Honestly Castagna is hopeless, dilution and reverse splits do not need to happen. If sayhey’s September miracle happens we can rest easy for awhile. If not MC must go
|
|