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Post by stockwhisperer on Nov 13, 2019 8:26:18 GMT -5
While slow & steady is fine, at this point, I personally, am very interested in seeing and understanding a detailed plan of next steps. While we know there is a high level, professional interested in coming on board, as of yet, there has been no large monetary investment - nothing to prove a large enough dollar amount has been taken by even one stakeholder to be taken seriously by MNKD. I thought that would happen and presumably it still will. In the meantime, the clock is ticking and there are numerous decisions to be made about how to, not only get new board nominees on the ballot but how to get the votes needed to win a proxy fight. The details to get there, IMO - (hope I am wrong) are mind boggling. Considering, as mentioned by more than one person, three of the current board members are beyond the mandatory employment retirement age - yet can remain on the board, forever (I guess). Maybe they or some of them might decide to leave. This still does not mean that MNKD will not pick replacements of their own for the ballot. How MNKD reacts to what is coming, which, they must be expecting, is hard to say. If they are sticking together and feel totally confident, the chances of them simply cooperating to avoid the time & expense for everyone involved for a proxy battle, might not be in the cards. Quite frankly, lack of an open door, welcome your ideas policy from the beginning, seemingly helped get us here. While a win is not guaranteed for anyone, making sure the selection process meets required standards, that the voting ballot is a s straight forward as possible, that large retail investors have been contacted - supportive and involved, that shareholders in general (seems MNKD has the upper hand here, since they have the list of all shareholders) are notified and, in this example - understand the reasons & significance of voting for change - are just some of the details that need to be covered. All of these things plus more, at the moment - concern me so much more than the idea of an eventual buyout. Just thinking out loud.
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Post by stockwhisperer on Nov 13, 2019 9:10:31 GMT -5
Seems like I am already wrong about support from big financial institutions. Read that they typically, only do that when they see the possibility of a win that would produce a big profit and only if they can vote the shares, Not so much when individuals w/their brokerage firm invested in the shares themselves and therefore, vote as individual shareholders. That concept seems to signify all the more reason to individually support VDEX and / or HFM, if you are inclined toward change. Not promoting or pushing anything other then information. Each their own.
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Post by mnholdem on Nov 13, 2019 10:09:52 GMT -5
Afrezza is a revolutionary product with the potential to disrupt the diabetes treatment industry. Whether current management wakes up or new management is needed, this product needs to be positioned for what it is. MannKind took a positive step in the creation of the website "inhalemyinsulin". inhalemyinsulin.com/The company now has a forum by which the company can educate WHY an ultra-rapid acting inhaled insulin is revolutionary. Many of the big pharmaceutical companies have similar sites where they can publish relevant articles without violating FDA restrictions related to specific brand names. Why is this relevant? The answer to that question is because there is only ONE ultra-rapid inhaled insulin currently available to patients. Where is Afrezza positioned today? Ask most endocrinologists or primary care physicians and (assuming they've even heard of it) you're likely to hear something like, "Afrezza...isn't it that new inhaled insulin?" MannKind needs to do a MUCH more effective job of positioning its revolutionary insulin with healthcare professionals. The new website can help in that regard but only if management has the vision, the fortitude and the experience needed. In this regard, I am truly hoping that I get what I ask for.  |
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Post by sportsrancho on Nov 13, 2019 10:12:11 GMT -5
I don’t see any risk of a buyout, the risk is not doing anything to change the status quo.
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Post by peppy on Nov 13, 2019 10:13:32 GMT -5
I am watching television. Just sayin.
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Post by agedhippie on Nov 13, 2019 15:17:31 GMT -5
I don’t see any risk of a buyout, the risk is not doing anything to change the status quo. Anybody interested in a buyout is more likely to buy the debt from MidCap and strictly enforce the terms when the covenants are breached - call the existing debt. If Mannkind default then they own all the assets at which point they hire away the Danbury staff needed for the operation (is there anybody in the HQ you would want?), and dump the management and board. The temptation would be to sell the relevant production facilities and patents to UTHR. Your basic asset stripping exercise. That's an absolute worst case, but feasible once the vultures get involved which is what a buyout at this point is likely to be. |
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Post by sportsrancho on Nov 13, 2019 16:11:23 GMT -5
And maybe why the stock is at where it is right now because it looks like they’re going to miss the covenants.
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Post by rfogel on Nov 13, 2019 16:55:14 GMT -5
And maybe why the stock is at where it is right now because it looks like they’re going to miss the covenants. I don't recall ever seeing a debt covenant being tied to a net revenues sliding scale. I would think they would be more inclined to tie it to net profit. |
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Post by ktim on Nov 13, 2019 17:10:31 GMT -5
And maybe why the stock is at where it is right now because it looks like they’re going to miss the covenants. Yes, pretty clear from the numbers and driven home by Mike's comments on the call... looking improbable that we make covenants over next few months. When it comes to debt we didn't exactly jump from the frying pan into the fire, but it's obvious now that we jumped from one frying pan into a new and unknown frying pan. So share price is reflecting that we're likely to get things that look bad and potentially scary before things that look good. I'm becoming a bit inured to it all with regard to my existing MNKD investment... mentally, as well as realistically, don't expect to recoup... though still thinking at some point there could be a real point of clarity that would be investible, which is why I continue to follow MNKD. |
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Post by awesomo on Nov 13, 2019 17:29:14 GMT -5
And maybe why the stock is at where it is right now because it looks like they’re going to miss the covenants. I don't recall ever seeing a debt covenant being tied to a net revenues sliding scale. I would think they would be more inclined to tie it to net profit. Net revenue isolates how well the business operations itself is doing/growing; things like expenses, which is included in net profit, can be variable. |
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Post by letitride on Nov 13, 2019 17:31:20 GMT -5
Im sure they can stop the buyout with a reverse split and an additional 100,000,000 million authorized shares to fend off the hostile takeover. That and another round of financing to boost the balance sheet before the new year. That should about do it for cash infusions for awhile. Imagine that I will be able to sleep at night knowing Mannkind wont be lost to some toxic lender, be taken over and sold off to BP for pennies and there will no longer be a need for HFM. All in my opinion.
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Post by awesomo on Nov 13, 2019 17:45:45 GMT -5
Im sure they can stop the buyout with a reverse split and an additional 100,000,000 million authorized shares to fend off the hostile takeover. That and another round of financing to boost the balance sheet before the new year. That should about do it for cash infusions for awhile. Imagine that I will be able to sleep at night knowing Mannkind wont be lost to some toxic lender, be taken over and sold off to BP for pennies and there will no longer be a need for HFM. All in my opinion. If they do another reverse split and dilute with another 100M shares, your shares will be worth pennies all on their own. |
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Post by ryster505 on Nov 13, 2019 19:12:46 GMT -5
What starts to get quite worrisome to me is the fact that Captain Mikey blew through hundreds of millions of shares at bottom prices to toxic lenders and now we are in a sense trying to 'conserve' these 20~mm warrant shares as if they are THAT damn important?? Unless you have a plan Mr Castagna, and execute said plan to boost the CURRENT share price with the CURRENT number of outstanding shares before authorizing another shelf or shenanigan as you have yet to fail to do in the past, we current and older shareholders will suffer tremendously more than we already have. I think you already know this, problem is I am starting to think you really don't care..This sucks already, but I'm not selling, it just is not an option at this point. Hopium strong...
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Post by cretin11 on Nov 13, 2019 19:21:37 GMT -5
Im sure they can stop the buyout with a reverse split and an additional 100,000,000 million authorized shares to fend off the hostile takeover. That and another round of financing to boost the balance sheet before the new year. That should about do it for cash infusions for awhile. Imagine that I will be able to sleep at night knowing Mannkind wont be lost to some toxic lender, be taken over and sold off to BP for pennies and there will no longer be a need for HFM. All in my opinion. This helps you sleep at night?! I think you’re ignoring some relevant facts in that scenario. And if anything, it would only highlight the need for HFM... |
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Post by awesomo on Nov 13, 2019 19:29:33 GMT -5
What starts to get quite worrisome to me is the fact that Captain Mikey blew through hundreds of millions of shares at bottom prices to toxic lenders and now we are in a sense trying to 'conserve' these 20~mm warrant shares as if they are THAT damn important?? Unless you have a plan Mr Castagna, and execute said plan to boost the CURRENT share price with the CURRENT number of outstanding shares before authorizing another shelf or shenanigan as you have yet to fail to do in the past, we current and older shareholders will suffer tremendously more than we already have. I think you already know this, problem is I am starting to think you really don't care..This sucks already, but I'm not selling, it just is not an option at this point. Hopium strong... The whole argument of "Mike is purposely holding back so that the warrants expire and we get those shares back" is complete B.S. from Castagna supporters. The fact is that the warrant strike price is now 37% above our current putrid PPS, and exercising those warrants would mean that we are above 1.60 on the date of expiration and we would get that additional $40M in cash. But now, we are back to waffling closer to $1 a share again with scripts and revenue completely stagnant, in danger of missing the new loan covenant requirements, and no apparent plan or catalyst other than the same crap we've been hoping for years. |
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