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Post by awesomo on Apr 11, 2020 11:50:15 GMT -5
Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal. Mike & Co. have a plan. The last 3 years were tough. MNKD was a mess but the hard work is done and now it's the time to reap some benefits. There are several important events happening this year that will propel the stock price. Yes the PANDEMIC has caused a speed bump but this too shall pass. If you haven't noticed 10 Million SHORT SHARES have been covered over the last month. That should tell you something. OBTW - For those who think a MOASS will happen......NOT. 10M shares covered and the stock increased $.10 CENTS Suurree, how many times did we hear the shares were for equity partners last time they wanted to authorize more shares? Now that we know Mike and his team are incentivized by B.S. "cash on hand" performance metrics (including compensating for their deficiencies elsewhere) to get their fat bonuses, it is pretty clear where their priorities lie and it isn't with shareholder equity appreciation. Just look at the fact that none of them have bought shares on the open market. Shorts are looking elsewhere in the market right now because the volatility and opportunity is elsewhere, MannKind isn't going anywhere right now. That tells me nothing. They will be back with a vengeance if word down the pipeline revolves around the "d word". |
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Post by Deleted on Apr 11, 2020 18:12:01 GMT -5
Merely doing your job does not warrant, nor justify, compensation increases. Sickening. As long as SALES are RISING....Compensation increases are warranted. |
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Post by Deleted on Apr 11, 2020 18:17:46 GMT -5
Does Casper work for Mannkind Corporation? Casper, just look at the irregular ratings they gave themselves relative to their goals. I won’t spell them all out again. They insult my aging intelligence. If you think claiming a 22% increase in share price is an example of “talent”, I have to wonder what shit show I’m watching. Sorry, I don’t buy the justifications you’ve given. Compensate management when they show measurable results that do not insult anyone outside of the organization and I’m all for it. Where are the results? Sales up 40%? Hell, double them and it might get my attention, except they are still paltry relative to what is needed. The cash on hand is a slight of hand. Dilute in December, 2018, and get get credit for remaining cash the following year doesn’t fool me. Shareholders paid for that cash, not company management performance. No I do not work for Mannkind. This is easy if you're not happy with the performance of the stock then SELL. Why torture yourself?? You can make money elsewhere and probably offset your loses. Have you ever asked why quality people have joined MNKD? That should tell you something and the fact that you are still holding MNKD shares should tell you something also. I won't go back and rehash Mike's compensation but he has not received a 100%+ Bonus since he got there. Mike has busted his ass to turn around MNKD. And you all complained about the capital raise in Dec. 2018 which turned out to be a brilliant and company saving move. Mike is building for the future. He told us it was not going to be a fast rise. Add in the turnaround, the growth cycle of new insulins and the pressure from competitors and Wall Street......Hell Mike has done a phenomenal job. Yeah the stock price doesn't reflect it but in time it will. Since everyone LOVES TO RECITE AL MANN.......What did he say??? "Take care of the patient first and the rest will follow." That is Mikes Motto also. I can promise you one thing.....MNKD will not be at $1.00 by 12/31. |
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Post by Deleted on Apr 11, 2020 18:21:07 GMT -5
Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal. Mike & Co. have a plan. The last 3 years were tough. MNKD was a mess but the hard work is done and now it's the time to reap some benefits. There are several important events happening this year that will propel the stock price. Yes the PANDEMIC has caused a speed bump but this too shall pass. If you haven't noticed 10 Million SHORT SHARES have been covered over the last month. That should tell you something. OBTW - For those who think a MOASS will happen......NOT. 10M shares covered and the stock increased $.10 CENTS Suurree, how many times did we hear the shares were for equity partners last time they wanted to authorize more shares? Now that we know Mike and his team are incentivized by B.S. "cash on hand" performance metrics (including compensating for their deficiencies elsewhere) to get their fat bonuses, it is pretty clear where their priorities lie and it isn't with shareholder equity appreciation. Just look at the fact that none of them have bought shares on the open market. Shorts are looking elsewhere in the market right now because the volatility and opportunity is elsewhere, MannKind isn't going anywhere right now. That tells me nothing. They will be back with a vengeance if word down the pipeline revolves around the "d word". Actually Management has purchased shares on the open market. Mike has made several purchases over the last 4 years. Keep looking at the DAILY STOCK PRICE.....You need to see the big picture. GL |
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Post by falconquest on Apr 11, 2020 18:59:22 GMT -5
Well then, all must be well.......carry on!
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Post by sportsrancho on Apr 11, 2020 20:19:32 GMT -5
Well then, all must be well.......carry on! Casper sounds like he’s friends with Mike and expressing Mike’s exact argument. I’ve seen those words in emails Mike has sent to shareholders. And I don’t doubt that he believes it. But he’s lost the trust of the shareholders, he really needs to take a step back and do something that makes everybody smile, something Gallant ..anything🤷♀️ Management is tone deaf when it comes to how shareholders see shareholder value. And telling someone to sell, that’s just an excuse because you don’t have anything more to respond with. You’re trying to win an argument that can’t be won at this late date. Then the shenanigans about trying to convince everybody Vdex didn’t use Medicare. Mike probably thinks that’s true too after all he doesn’t even know how many clinics there are..he thinks there’s only two providers😂🤷♀️ |
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Post by agedhippie on Apr 11, 2020 20:26:09 GMT -5
Merely doing your job does not warrant, nor justify, compensation increases. Sickening. As long as SALES are RISING....Compensation increases are warranted. That is an utterly pointless metric. There are so many ways to game it. That's why MidCap have net revenue and not sales as a metric. Let's be charitable though and say rising sales is what we want. Then the next question is what should the benchmark be? Given the low volume of sales I would want to see significant growth, and 40% is not going to work. |
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Post by awesomo on Apr 11, 2020 20:30:29 GMT -5
Suurree, how many times did we hear the shares were for equity partners last time they wanted to authorize more shares? Now that we know Mike and his team are incentivized by B.S. "cash on hand" performance metrics (including compensating for their deficiencies elsewhere) to get their fat bonuses, it is pretty clear where their priorities lie and it isn't with shareholder equity appreciation. Just look at the fact that none of them have bought shares on the open market. Shorts are looking elsewhere in the market right now because the volatility and opportunity is elsewhere, MannKind isn't going anywhere right now. That tells me nothing. They will be back with a vengeance if word down the pipeline revolves around the "d word". Actually Management has purchased shares on the open market. Mike has made several purchases over the last 4 years. Keep looking at the DAILY STOCK PRICE.....You need to see the big picture. GL Those aren’t open market buys, they’re part of their stock purchase plan where they often get a discount. Also they are all token buys, 5,000 shares or less in which sometimes Kendall doesn’t even bother participating in fully. |
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Post by agedhippie on Apr 11, 2020 20:42:40 GMT -5
Page 41 of the 14A.
This was interesting. It's talking about the pay vote at the last AGM.
At our 2019 Annual Meeting of Stockholders, 39,066,556 out of 58,324,457, or 67%, of the votes cast on the proposal approved, on an advisory basis, the compensation of our named executive officers. This level of support for executive compensation was lower than was obtained in previous years (2018 – 83%; 2017 – 90%), so we sought to better understand the basis for our 2019 say-on-pay result. An analysis of institutional voting indicated that 19 institutional investors holding a total of 38,985,196 shares voted in favor of the advisory proposal whereas two institutional investors holding a total of 954,923 shares voted against it. Another 110 institutional investors holding a total of 20,219,921 shares did not cast any votes at the 2019 Annual Meeting. We identified a further 23 institutional investors that voted at the 2019 Annual Meeting but whose ownership level was not available. Of these, 21 voted in favor of the proposal and two voted against. This analysis suggested that most of the votes against our say-on-pay proposal were cast by retail shareholders, a group that is more difficult to engage in outreach efforts than institutional investors.
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Post by hopingandwilling on Apr 11, 2020 20:47:01 GMT -5
Casper,
There is a “tiny” flaw with your position on someone earning their compensation. The current CEO sold investors from the time he was hired..he would show results that would make SNY look like bad.
If “you” would take the time..please note that on 10/23/2015, SNY produced 421 NRxs and 206 refills making TRxs come out to be 627.
Now just to the the last time MNKD reached a weekly NRx of more than 400...that would be 12/20/2019..NRxs..413 and refills being 519 or a TRx of 932. When compared to the 2015 event this indicates they grew TRxs by 48%. Great numbers..right?
Well it really isn’t so good because in the example of the 2020 results the weeks revenue net hit $1,510,000.O0 vs the 2015 weeks result bringing in $371,000.00.
With weekly sales for NRxs being the same for 2015 and 2020...the only change has been refills growing by 48% while revenue growth has grown more than 4 Times aka price increases to the patients and insurance companies.
A four fold increase for revenues while prescriptions remain flat..and everything is okay in Dreamland!
So why not just increase the price by 10% each month and solves MannKinds problems if you think things are going so well?
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Post by goyocafe on Apr 11, 2020 20:48:35 GMT -5
Page 41 of the 14A. This was interesting. It's talking about the pay vote at the last AGM. At our 2019 Annual Meeting of Stockholders, 39,066,556 out of 58,324,457, or 67%, of the votes cast on the proposal approved, on an advisory basis, the compensation of our named executive officers. This level of support for executive compensation was lower than was obtained in previous years (2018 – 83%; 2017 – 90%), so we sought to better understand the basis for our 2019 say-on-pay result. An analysis of institutional voting indicated that 19 institutional investors holding a total of 38,985,196 shares voted in favor of the advisory proposal whereas two institutional investors holding a total of 954,923 shares voted against it. Another 110 institutional investors holding a total of 20,219,921 shares did not cast any votes at the 2019 Annual Meeting. We identified a further 23 institutional investors that voted at the 2019 Annual Meeting but whose ownership level was not available. Of these, 21 voted in favor of the proposal and two voted against. This analysis suggested that most of the votes against our say-on-pay proposal were cast by retail shareholders, a group that is more difficult to engage in outreach efforts than institutional investors.Lol! Difficult to engage in outreach efforts? Have they even tried other than quarterly calls? They never cease to amaze me with their spin. |
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Post by morfu on Apr 11, 2020 21:40:32 GMT -5
It is financially irresponsible, not warranted nor justified for MannKind Executive Management to seek increased compensation for their performance in 2019. Not only was their performances mediocre and stayed well within the boundaries of their given job duties (none of them went above and beyond), and not only have MannKind Shareholders not received an ROI, and not only is MannKind strapped for cash, and not only is MannKind still in massive debt, and not only is MannKind still in financial arrangements with swamp creatures, and not only is the PPS at a pathetic $1.04—but the Country is in a grand economic meltdown and in the midst of a global pandemic. This is financial irresponsibility. This is financial immaturity. This is financial greed. This is disrespectful to MannKind Shareholders, employees, the Company, patients and the late Alfred E. Mann. I am extremely disappointed in MannKind Executive Management. Sign this Petition if you agree. www.change.org/p/mannkind-shareholders-mannkind-shareholders-against-salary-increases-and-bonuses-for-executive-managementOK - Let's all complain about the 2% Raise in Mike's Salary. That's worth about 40 posts. Instead of only looking at the stock price look at the accomplishments that have transpired in 2019. The foundation is being laid within MNKD. Brazil was approved and Sales are being recorded. I don't mind the executive compensation incentives. If you look at DXCM's S-4's you will blow your mind. Early on their executives were paid in options and they have done well. The same will happen with MNKD. A CEO that makes $500,000 in salary is very reasonable and let's not forget they are a GLOBAL PHARMA Company now. But then again you will complain about the salary and the stock options. You have to compensate talent or you will not attract nor retain talent. IMO MNKD will issue more stock options after the ASM and then the floor will be in. I expect the stock price to head north. Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal. Mike & Co. have a plan. The last 3 years were tough. MNKD was a mess but the hard work is done and now it's the time to reap some benefits. There are several important events happening this year that will propel the stock price. Yes the PANDEMIC has caused a speed bump but this too shall pass. If you haven't noticed 10 Million SHORT SHARES have been covered over the last month. That should tell you something. OBTW - For those who think a MOASS will happen......NOT. 10M shares covered and the stock increased $.10 CENTS
>> Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal.
Well I am reciting my answer in this thread from 8 days ago: "Earlier somebody said, that it is normal for a company to give the management shares to be able to act and I agree with that idea in principle.
This particular management however gave a big chunk of shares away in 2018 (20% of the companies value for about $40mil), without any apparent need or explanation.
I want to know who got this package right before Christmas and see other ways of financing pursued in future. I just do not believe that Mannkind cannot get money without dilutions.
The management did not do their job!
And clearly, I do not want to give them the shares to do that again (giving themselves a huge bonus while generating money selling out the shareholders)
How about giving them $20mil shares with on order of strict transparency!"
Well, we have this history with this management same arguments, same 35% dilution just 2 years ago!
== Whoever does not learn from the mistakes of the past, tends to repeats them. ==
Fool us once, that is on you, but if we keep on giving shares to a management which is well document to just throw them out of the window without looking for other financing and even seems to be proud of being dept free at the current dilution, well eventually we have to blame ourselfs! That money from 2018 basically remained untouched for 15months, no other financing effort succeeded in that time and now they ask for more shares..
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Post by Deleted on Apr 11, 2020 22:27:00 GMT -5
OK - Let's all complain about the 2% Raise in Mike's Salary. That's worth about 40 posts. Instead of only looking at the stock price look at the accomplishments that have transpired in 2019. The foundation is being laid within MNKD. Brazil was approved and Sales are being recorded. I don't mind the executive compensation incentives. If you look at DXCM's S-4's you will blow your mind. Early on their executives were paid in options and they have done well. The same will happen with MNKD. A CEO that makes $500,000 in salary is very reasonable and let's not forget they are a GLOBAL PHARMA Company now. But then again you will complain about the salary and the stock options. You have to compensate talent or you will not attract nor retain talent. IMO MNKD will issue more stock options after the ASM and then the floor will be in. I expect the stock price to head north. Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal. Mike & Co. have a plan. The last 3 years were tough. MNKD was a mess but the hard work is done and now it's the time to reap some benefits. There are several important events happening this year that will propel the stock price. Yes the PANDEMIC has caused a speed bump but this too shall pass. If you haven't noticed 10 Million SHORT SHARES have been covered over the last month. That should tell you something. OBTW - For those who think a MOASS will happen......NOT. 10M shares covered and the stock increased $.10 CENTS
>> Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal.
Well I am reciting my answer in this thread from 8 days ago: "Earlier somebody said, that it is normal for a company to give the management shares to be able to act and I agree with that idea in principle.
This particular management however gave a big chunk of shares away in 2018 (20% of the companies value for about $40mil), without any apparent need or explanation.
I want to know who got this package right before Christmas and see other ways of financing pursued in future. I just do not believe that Mannkind cannot get money without dilutions.
The management did not do their job!
And clearly, I do not want to give them the shares to do that again (giving themselves a huge bonus while generating money selling out the shareholders)
How about giving them $20mil shares with on order of strict transparency!"
Well, we have this history with this management same arguments, same 35% dilution just 2 years ago!
== Whoever does not learn from the mistakes of the past, tends to repeats them. ==
Fool us once, that is on you, but if we keep on giving shares to a management which is well document to just throw them out of the window without looking for other financing and even seems to be proud of being dept free at the current dilution, well eventually we have to blame ourselfs! That money from 2018 basically remained untouched for 15months, no other financing effort succeeded in that time and now they ask for more shares..
This topic was covered. The capital raise was a smart move. The Credit Markets had potential pitfalls in 2019 and they had to meet covenant requirements. Like I said you guys will complain about raises and bonuses. MNKD was just about done cleaning up their balance sheet so they could not use the debt markets. Their Phase 1 candidates were not ready for any type of partnerships so the only way to raise was thru dilution and it wasn't a bad deal. It was better than before but none the less they had to do it. The final warrants are coming due in June so that will hopefully unlock the ceiling on the stock and it will start to climb. I doubt very seriously they will dilute without an equity partnership. And I KNOW they will not dilute with the price at $1.00. Sales are climbing, Burn rate is dropping and they have the warrants and a milestone payment plus Brazil Revenue. MNKD has a lot in the hopper...Just have to wait until it all comes rolling through. |
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Post by JEvans on Apr 11, 2020 22:28:31 GMT -5
OK - Let's all complain about the 2% Raise in Mike's Salary. That's worth about 40 posts. Instead of only looking at the stock price look at the accomplishments that have transpired in 2019. The foundation is being laid within MNKD. Brazil was approved and Sales are being recorded. I don't mind the executive compensation incentives. If you look at DXCM's S-4's you will blow your mind. Early on their executives were paid in options and they have done well. The same will happen with MNKD. A CEO that makes $500,000 in salary is very reasonable and let's not forget they are a GLOBAL PHARMA Company now. But then again you will complain about the salary and the stock options. You have to compensate talent or you will not attract nor retain talent. IMO MNKD will issue more stock options after the ASM and then the floor will be in. I expect the stock price to head north. Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal. Mike & Co. have a plan. The last 3 years were tough. MNKD was a mess but the hard work is done and now it's the time to reap some benefits. There are several important events happening this year that will propel the stock price. Yes the PANDEMIC has caused a speed bump but this too shall pass. If you haven't noticed 10 Million SHORT SHARES have been covered over the last month. That should tell you something. OBTW - For those who think a MOASS will happen......NOT. 10M shares covered and the stock increased $.10 CENTS
>> Also the increase in AS is for possible equity partners. They will have about 35% to issue but the key is for the stock price to be higher and then make the deal.
Well I am reciting my answer in this thread from 8 days ago: "Earlier somebody said, that it is normal for a company to give the management shares to be able to act and I agree with that idea in principle.
This particular management however gave a big chunk of shares away in 2018 (20% of the companies value for about $40mil), without any apparent need or explanation.
I want to know who got this package right before Christmas and see other ways of financing pursued in future. I just do not believe that Mannkind cannot get money without dilutions.
The management did not do their job!
And clearly, I do not want to give them the shares to do that again (giving themselves a huge bonus while generating money selling out the shareholders)
How about giving them $20mil shares with on order of strict transparency!"
Well, we have this history with this management same arguments, same 35% dilution just 2 years ago!
== Whoever does not learn from the mistakes of the past, tends to repeats them. ==
Fool us once, that is on you, but if we keep on giving shares to a management which is well document to just throw them out of the window without looking for other financing and even seems to be proud of being dept free at the current dilution, well eventually we have to blame ourselfs! That money from 2018 basically remained untouched for 15months, no other financing effort succeeded in that time and now they ask for more shares..
Morfu, You hit the nail on the head! Thank you |
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Post by Deleted on Apr 11, 2020 22:34:21 GMT -5
Casper, There is a “tiny” flaw with your position on someone earning their compensation. The current CEO sold investors from the time he was hired..he would show results that would make SNY look like bad. If “you” would take the time..please note that on 10/23/2015, SNY produced 421 NRxs and 206 refills making TRxs come out to be 627. Now just to the the last time MNKD reached a weekly NRx of more than 400...that would be 12/20/2019..NRxs..413 and refills being 519 or a TRx of 932. When compared to the 2015 event this indicates they grew TRxs by 48%. Great numbers..right? Well it really isn’t so good because in the example of the 2020 results the weeks revenue net hit $1,510,000.O0 vs the 2015 weeks result bringing in $371,000.00. With weekly sales for NRxs being the same for 2015 and 2020...the only change has been refills growing by 48% while revenue growth has grown more than 4 Times aka price increases to the patients and insurance companies. A four fold increase for revenues while prescriptions remain flat..and everything is okay in Dreamland! So why not just increase the price by 10% each month and solves MannKinds problems if you think things are going so well? At this point in time I take DOLLARS over SCRIPT COUNT. |
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