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Post by buyitonsale on Jul 18, 2019 21:32:31 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. Correct, I’m asking the question: So you think that because they bought their shares back for .13 they used those specific shares to pay Deerfield? They have plenty of shares to pay their debt off, no? Why buy back warrants? And they will be getting those shares back in December anyway, no? So please tell me their reasoning to buy those warrants back for .$13 now ... And please be specific...
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Post by sportsrancho on Jul 18, 2019 21:33:44 GMT -5
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 It’s my impression that they are reviewing many things. Assessing every action.
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Post by cedafuntennis on Jul 18, 2019 21:49:13 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. All that RS did was give shares to the shirts to sort. They went from 1 to 5 then they sorted back to almost 1 a few times. If we did a 10:1 it would have been the same song and dance but with more shares. We need a good partner as RS with such a poor patient retention is suicide.
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Post by lifebreath on Jul 18, 2019 21:49:32 GMT -5
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 It’s my impression that they are reviewing many things. Assessing every action. From a fiscally responsible perspective capital raises should be reserved for product development not to bailout management’s failed protocol
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Post by ryster505 on Jul 18, 2019 22:24:05 GMT -5
It’s my impression that they are reviewing many things. Assessing every action. From a fiscally responsible perspective capital raises should be reserved for product development not to bailout management’s failed protocol BOOM! Hit the nail straight on the head with that comment sir. Could not agree more. What could we have advanced in our pipeline with the $9,000,000.00 spent on useless ad campaign?
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Post by ktim on Jul 19, 2019 7:53:06 GMT -5
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. Another RS certainly doesn't seem out of the realm of potential probability (tortured choice of words meant to imply no prediction one way or the other). If for no other reasons, MNKD is part of a broader market and economy. Do we have another leg up or is the next one down... if anyone here knows, they need to be out making money off their fortune telling abilities rather than spending time reading posts here.
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Post by mnholdem on Jul 19, 2019 7:54:21 GMT -5
$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. Yup. Rates are ultimately tied to risk.
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Post by gcozz on Jul 19, 2019 8:19:02 GMT -5
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Post by buyitonsale on Jul 19, 2019 10:27:04 GMT -5
What are the odds share price will be over 1.73 by the time warrants expiration date if the house telegraphs it ?
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Post by awesomo on Jul 19, 2019 10:43:00 GMT -5
What are the odds share price will be over 1.73 by the time warrants expiration date if the house telegraphs it ? The warrant holder wanted out, Mike obliged for whatever reason. You really think the warrant holder would sell their warrants if they had any notion that the price would be over 1.73 by December?
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Post by ktim on Jul 19, 2019 10:45:31 GMT -5
What are the odds share price will be over 1.73 by the time warrants expiration date if the house telegraphs it ? The house has been known to bluff.
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Post by buyitonsale on Jul 19, 2019 11:13:07 GMT -5
CFO must be as inept as the average casino player Throws away $433K and convinces BOD to advertise it This PR is so blatantly bullish isn’t it ... Place your bets, GLTAL
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Post by mymann on Jul 20, 2019 13:38:15 GMT -5
So investing in Mnkd a gamble? All stock investors are gambling. Trying to do your DD on your involvement and convincing yourself I'm smarter than the average bear only if everyone involved are not cheating.
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Post by mannmade on Jul 20, 2019 16:20:34 GMT -5
Bear is the key word here...
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Post by cedafuntennis on Jul 21, 2019 18:18:40 GMT -5
What are the odds share price will be over 1.73 by the time warrants expiration date if the house telegraphs it ? The warrant holder wanted out, Mike obliged for whatever reason. You really think the warrant holder would sell their warrants if they had any notion that the price would be over 1.73 by December? Maybe MC bought out the warrants not to give them a discount from the $1.04 price which would have brought the SP below $1 for a very long time and spell a lot more trouble. Unless we find a real partner we have no leverage.
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