Somebody on Stocktwits...evidently this is what Mike told him:
Matt and Mike do not like each other. Yes, Matt was fired by the BOD. I wasn't told what exactly was illegal, but I was told that in house counsel advised against the deal. Mike actually did make the trip to sit down with the Saudis. He initially was on board and open to it. But red flags were popping up all over the place.
@kevinmik Have you ever talked to Mike personally about what went down with the UAE deal?
mannontop2 You should contact Mike. I'm sure he will have no problem giving you a little more clarity on what REALLY went down
@rozey1 Yea, he would have taken a better path. LOL. Thats why he got FKN FIRED!!!! The UAE deal was shady as fk, with sheik gangsters involved. That's what got Matt canned.
This is the same person talking to a bunch of other people about the deal.
Vdex has already explained their side of the situation.
I decided to respond because this is not the first I’ve heard of this and felt the need to weigh in.
Matt P’s firing had nothing to do with the UAE because the deal was sound!
Matt’s firing likely had to do with a smear campaign.
There seems to be a lot of wrong ideas out there about the Abu Dhabi deal.
People are getting some very strange ideas about the “players involved” from
someone reckless.
Some SH are claiming to have recently spoken with MC regarding the deal.
My question to those SH is…Why wouldn’t you find suspect the information being shared by the CEO of a Co. who is privately supplying the details of a deal, firings, etc…?
If there is pertinent information regarding these matters that concern SH, why is the CEO not sharing this information with all SH?
If it’s the truth, tell it publicly, if it’s not…
MC NEVER met with our UAE contacts…EVER.
No Gangsters, No Saudis, No Illegalities.
Just: -Eminent Approval - Sound Financial Terms - Cleveland Clinic Abu Dhabi Study - Imperial College London Diabetes Centre to begin using VDEX protocols ETC…
The very person that Joe S directly reported to (MC) had just been promoted to CEO.
Why would Joe quit right after MC became CEO?
That’s usually a good thing for underlings.
Why quit now?
Why didn’t Joe stay on to help Afrezza across the finish line as he had come on to do for Al?
What changed for Joe?
MC had been negative about our deal before he ever knew who the players were.
We requested a meeting with MC to discuss VDEX brokering a foreign deal.
First Meeting:
MC said VDEX was able to make a deal… and that was mostly what our eager ears heard in between
MC openly disparaging and speaking of replacing his CEO to Bill and myself (who he had only met once or twice before) and the Alis whom he had never met before. Second Meeting:
MC and Joe S talked us down and repeated the challenges of finding legit partners but in the end our eager ears heard…If we had what it took, we could get it done.
And so we did.
Mike C. never met our Abu Dhabi contacts yet we, Joe and anyone else with a working ear, knew MC to have an extremely low opinion of our deal.
“Don’t waste your time with them, they don’t have valid partners” is what Matt would tell us MC was saying to him every day!!!
MC didn’t know our contacts, yet as CCO he was advising his CEO not do the deal based on NO INFORMATION! This didn’t happen once or twice, it was daily.
What had changed since our second meeting with MC to advise his CEO and many others that our deal wasn’t legitimate?
Nothing had changed. How can I be so sure? Because of his actions
If MC had found out who our contacts were during that time, he would have found them to be legit, so that doesn’t explain it.
When we supplied Joe (VP Marketing) with our contacts to be vetted, he quickly deemed them more than worthy.
Did MC change his tune? No.
MC continued to advise his CEO not to do the deal. “Don’t waste your time with them, they don’t have valid partners”.
MC advised (daily) his CEO on NO INFO to support his advice.
And once vetted by Joe…
MC advised (daily) his CEO on INFO COUNTER to his advice.
Remember, Joe Saldanha, who lived in the ME and made his fortune in distribution in the ME and knows everyone there is to know, came to work for MNKD
as a favor to Al Mann. Once Joe finally
saw our contacts for himself and stopped listening to MC, he immediately changed his tune and labeled them “First Rate”.
“How can I help?“ was the new theme.
Remember, Joe is the expert in this area. It’s why Al asked him to come aboard.We know Joe’s opinion of us and our contacts had completely reversed for the better.
“First Rate Contacts”
What changed for the worse to make Joe quit?
He hadn’t completed his task for Al.
He hadn’t yet seen Afrezza to success.
He was excited about our deal and
the ones to follow that he was more than willing to help with… Introductions, middle of the night calls etc…
We felt Joe’s excitement in his words and tone. We were excited by his excitement.
The deal was never fully contemplated by the BOD because if it had been, it would have gone through.
Legal never fully contemplated the deal because if they had, the deal would have gone through.
Joe saw us/the UAE deal as a credible way forward and wanted to help.
Then Joe quit.
WHY?
Why was MNKD’s VP of Marketing offering his help to VDEX and our deal?
Because it was legit!
Why was he talking about other deals?
Because he felt the deal was going through and it was just the beginning for us.
Why else would the CEO put it in his slides for the Quarterly Conference Calls?
Because it was legit!
Our contacts ARE “first rate” and associated with
every major medical establishment in the region including the
Imperial College London Diabetes Centre (which sees approximately 60% of the PWD in the region) Where we were introduced and conducted a real-time demonstration with a T1, Afrezza and CGM for the Medical Director and other top brass) also the
$2.5B Cleveland Clinic Abu Dhabi where we were to immediately begin a 5,000 - 10,000 patient study designed by VDEX/Head of Endocrinology and we likely would have asked for input from MNKD as well. Oh well.
Something that sets VDEX apart from MNKD is that we get to tell the truth about our results. We are not hampered by Afrezza’s label. We are always allowed to speak the truths in our findings.
This story does fall apart from here on… it does not get holes punched in it…it does not degrade and it doesn't change. Wheather we are writing investors or telling this before a judge, this is what we will tell because it is simply the truth.
This story gets worse and worse for those who doubt it’s validity today. You will come to find in the end that it was all true and this deal was killed for reasons other than VDEX, the validity of it’s foreign contacts, financial terms or anything else regarding our side of the deal. This seems to be another example where VDEX can tell the truth and does and MNKD cannot…or will not.
We had something extremely solid in the UAE. It would have been Afrezza’s coming out party in the Middle East as they all follow the lead of the Emirates.
Maybe Joe Saldanha had just had enough. I know we have.
Stephen Brown
