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Post by awesomo on Apr 18, 2020 15:31:12 GMT -5
Well, the thread about the filings for this got locked so I figured I would start another one now that proxy voting has been sent out to shareholders. This is completely an effort in futility as whatever the board/executive team wants, they will get, but this is how I voted.
1. Withhold all except for Hooper and Grancio 2. Against increase of authorized shares 3. Against increase of incentive shares 4. Against approval of compensation 5. For Deloitte as auditor
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Post by porkini on Apr 18, 2020 15:54:03 GMT -5
Well, the thread about the filings for this got locked so I figured I would start another one now that proxy voting has been sent out to shareholders. This is completely an effort in futility as whatever the board/executive team wants, they will get, but this is how I voted. 1. Withhold all except for Hooper and Grancio2. Against increase of authorized shares 3. Against increase of incentive shares 4. Against approval of compensation 5. For Deloitte as auditor Just curious, why not Mundkur?
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Post by awesomo on Apr 18, 2020 16:04:17 GMT -5
I could switch to voting for her since she's only been around for 1 1/2 years, but I'll just vote to clean house.
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Post by sportsrancho on Apr 18, 2020 18:38:48 GMT -5
I voted no on everything except for Jennifer and Hooper.
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Post by mango on Apr 18, 2020 19:59:29 GMT -5
Well, the thread about the filings for this got locked so I figured I would start another one now that proxy voting has been sent out to shareholders. This is completely an effort in futility as whatever the board/executive team wants, they will get, but this is how I voted. 1. Withhold all except for Hooper and Grancio 2. Against increase of authorized shares 3. Against increase of incentive shares 4. Against approval of compensation 5. For Deloitte as auditor Exactly how I voted! I did not vote FOR Mundkur simply because I have never heard a single thing from her during her time with MannKind and thus have no clue what she provides for the Company other than her assigned duties she is being handsomely paid to do.
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Post by sportsrancho on Apr 18, 2020 21:48:50 GMT -5
Same
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Post by mytakeonit on Apr 18, 2020 23:15:13 GMT -5
Doesn't matter how I voted ... but, I will definitely make a ton of $$$
But, that's mytakeonit
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Post by cretin11 on Apr 18, 2020 23:54:41 GMT -5
Thanks sports, mango and awesomo, I’m considering the same votes.
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Post by bthomas55ep on Apr 19, 2020 8:51:38 GMT -5
FWIW, I suppose most people do realize that if the company runs up to the end of the runway before cash flow positivity and they have maxxed their lines with mid-cap and they do not have authored shares available to do fundraising, the alternative is bankruptcy?
I certainly get not providing any additional executive benefit, but to not vote to authorize to make additional shares available to the company treasury is cutting off our nose despite our face.
I personally prefer more dilution to bankruptcy as the story plays out. Keep in mind before the reverse split, there were more than 400 Million shares outstanding. If shares were to have to get there to get to profitability and let some of these pipeline initiatives play out, so be it. No way I vote No to authorizing more shares for the Corp Treasury - ever. I feel like I would be helping to kill my investment. Just means market cap on the back end needs to grow a bit higher. $4 Billion Mkt Cap on 400 Million outstanding (if we were forced to get there), would be a PPS of $10. Pre-Split the company had achieved a $6+ Billon market cap at one time or another.
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Post by sportsrancho on Apr 19, 2020 9:32:21 GMT -5
I hate to say this again. And I understand your point completely. I think the people voting no on authorized shares are sending a message ( we’ve gone through this before, you say you’ve got plenty of money through the end of the year but we don’t trust you. )
If they get the stock up then they use the shares for dilution fine... if they can’t get the stock up and they have to reverse split it to dilute it ...I’m not gonna stay in for that. Period
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Post by MnkdWASmyRtrmntPlan on Apr 19, 2020 11:41:58 GMT -5
Well, the thread about the filings for this got locked so I figured I would start another one now that proxy voting has been sent out to shareholders. This is completely an effort in futility as whatever the board/executive team wants, they will get, but this is how I voted. 1. Withhold all except for Hooper and Grancio 2. Against increase of authorized shares 3. Against increase of incentive shares 4. Against approval of compensation 5. For Deloitte as auditor Exactly how I voted! I did not vote FOR Mundkur simply because I have never heard a single thing from her during her time with MannKind and thus have no clue what she provides for the Company other than her assigned duties she is being handsomely paid to do. Ditto
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Post by awesomo on Apr 19, 2020 13:20:54 GMT -5
FWIW, I suppose most people do realize that if the company runs up to the end of the runway before cash flow positivity and they have maxxed their lines with mid-cap and they do not have authored shares available to do fundraising, the alternative is bankruptcy? I certainly get not providing any additional executive benefit, but to not vote to authorize to make additional shares available to the company treasury is cutting off our nose despite our face. I personally prefer more dilution to bankruptcy as the story plays out. Keep in mind before the reverse split, there were more than 400 Million shares outstanding. If shares were to have to get there to get to profitability and let some of these pipeline initiatives play out, so be it. No way I vote No to authorizing more shares for the Corp Treasury - ever. I feel like I would be helping to kill my investment. Just means market cap on the back end needs to grow a bit higher. $4 Billion Mkt Cap on 400 Million outstanding (if we were forced to get there), would be a PPS of $10. Pre-Split the company had achieved a $6+ Billon market cap at one time or another. Relax, it will pass, everything they want they will get. Like sports said, it’s about sending a message which is all we can do as a common shareholders. It will still fall on completely deaf ears, but oh well.
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Post by Deleted on Apr 19, 2020 17:48:05 GMT -5
FWIW, I suppose most people do realize that if the company runs up to the end of the runway before cash flow positivity and they have maxxed their lines with mid-cap and they do not have authored shares available to do fundraising, the alternative is bankruptcy? I certainly get not providing any additional executive benefit, but to not vote to authorize to make additional shares available to the company treasury is cutting off our nose despite our face. I personally prefer more dilution to bankruptcy as the story plays out. Keep in mind before the reverse split, there were more than 400 Million shares outstanding. If shares were to have to get there to get to profitability and let some of these pipeline initiatives play out, so be it. No way I vote No to authorizing more shares for the Corp Treasury - ever. I feel like I would be helping to kill my investment. Just means market cap on the back end needs to grow a bit higher. $4 Billion Mkt Cap on 400 Million outstanding (if we were forced to get there), would be a PPS of $10. Pre-Split the company had achieved a $6+ Billon market cap at one time or another. I agree 100%. What was the #1 complaint about the Sanofi Deal? Why didn't Sanofi have any skin in the game. Why didn't Sanofi take an equity stake in MNKD?? It was very easy for Sanofi to walk away from MNKD. And now when we are at the verge of having qualified candidates ready for an Equity Partner and disgruntled shareholders are VOTING NO. They apparently are not looking at the big picture. As always they are nearsighted and just looking at Dilution. I voted YES to everything. The BOD has done a great job with Mike in turning around this company. And the reason why I say this is because this is Mike's first CEO job and he had no prior experience in managing a company and not only has he turned around the company but he has transformed for the company in a Global Pharmaceutical Company.
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Post by awesomo on Apr 19, 2020 18:10:55 GMT -5
FWIW, I suppose most people do realize that if the company runs up to the end of the runway before cash flow positivity and they have maxxed their lines with mid-cap and they do not have authored shares available to do fundraising, the alternative is bankruptcy? I certainly get not providing any additional executive benefit, but to not vote to authorize to make additional shares available to the company treasury is cutting off our nose despite our face. I personally prefer more dilution to bankruptcy as the story plays out. Keep in mind before the reverse split, there were more than 400 Million shares outstanding. If shares were to have to get there to get to profitability and let some of these pipeline initiatives play out, so be it. No way I vote No to authorizing more shares for the Corp Treasury - ever. I feel like I would be helping to kill my investment. Just means market cap on the back end needs to grow a bit higher. $4 Billion Mkt Cap on 400 Million outstanding (if we were forced to get there), would be a PPS of $10. Pre-Split the company had achieved a $6+ Billon market cap at one time or another. I agree 100%. What was the #1 complaint about the Sanofi Deal? Why didn't Sanofi have any skin in the game. Why didn't Sanofi take an equity stake in MNKD?? It was very easy for Sanofi to walk away from MNKD. And now when we are at the verge of having qualified candidates ready for an Equity Partner and disgruntled shareholders are VOTING NO. They apparently are not looking at the big picture. As always they are nearsighted and just looking at Dilution. I voted YES to everything. The BOD has done a great job with Mike in turning around this company. And the reason why I say this is because this is Mike's first CEO job and he had no prior experience in managing a company and not only has he turned around the company but he has transformed for the company in a Global Pharmaceutical Company. Sanofi could have taken an equity stake, but they didn't and it had nothing to do with authorized shares. You keep saying they have this magical equity partner waiting in the wings for more authorized shares, but this is complete hopium on your part similar along the veins of "Hooper is the closer". We've been asking for a partner since the last equity raise, and nothing, nada, zero, zilch. We're nearsighted? Give me a break. The BoD and Castagna has done a great job? Let me check the share price, script growth, and pipeline; nope. Thanks for the input Mike, enjoy your 93% performance rating.
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Post by Deleted on Apr 19, 2020 19:11:44 GMT -5
I agree 100%. What was the #1 complaint about the Sanofi Deal? Why didn't Sanofi have any skin in the game. Why didn't Sanofi take an equity stake in MNKD?? It was very easy for Sanofi to walk away from MNKD. And now when we are at the verge of having qualified candidates ready for an Equity Partner and disgruntled shareholders are VOTING NO. They apparently are not looking at the big picture. As always they are nearsighted and just looking at Dilution. I voted YES to everything. The BOD has done a great job with Mike in turning around this company. And the reason why I say this is because this is Mike's first CEO job and he had no prior experience in managing a company and not only has he turned around the company but he has transformed for the company in a Global Pharmaceutical Company. Sanofi could have taken an equity stake, but they didn't and it had nothing to do with authorized shares. You keep saying they have this magical equity partner waiting in the wings for more authorized shares, but this is complete hopium on your part similar along the veins of "Hooper is the closer". We've been asking for a partner since the last equity raise, and nothing, nada, zero, zilch. We're nearsighted? Give me a break. The BoD and Castagna has done a great job? Let me check the share price, script growth, and pipeline; nope. Thanks for the input Mike, enjoy your 93% performance rating. You can't only go by the share price. Come on now you're smarter than that. You've been asking for a partner?? I don't believe Mike said after the RS that they will be looking for a partner. Mike did say he will probably use the additional shares to keep the lights on and invest in the company. Mike knew the shape of the pipeline and we all knew a partner was not imminent. And I'm not saying a partner is imminent now but this will give Mike great flexibility incase they go down that road. MNKD is stronger than 3 years ago. You want to look at the pipeline?? Did MNKD have UTHR as a partner 3 years ago?? NO. Has MNKD received over $50M from a partner 3 years ago? NO. Did MNKD have over 9 Candidates in their pipeline 3 years ago?? NO. Was MNKD's burn rate around $10M per Qtr. 3 years ago? NO. Was MNKD growing annual revenues over 50% 3 years ago?? NO. Did MNKD have an INHOUSE Salesforce 3 years ago?? NO. Was MNKD selling Afrezza in Brazil 3 years ago?? NO. We all know what AL MANN SAID.....Take care of the patient and the rest will follow. The FOLLOW is coming. Also remember....10M short shares have been covered. There's a reason for that. If you keep looking at the stock price you're going to miss the big picture. You should ask yourself....Why is MNKD at $1.25???
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