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Post by bones1026 on May 21, 2020 22:00:41 GMT -5
They did not take the 10m tranche and it expired on 15 Apr. I guess that the PPP money is a better source. It's $5M less but if you can get it forgiven it's free money, and if not the interest rate is far better than MidCap. I’m sure that played into it, but the fact they they decided they didn’t need the extra 10 right now, still with the uncertainty of COVID..is impossible to not to like. |
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Post by uvula on May 21, 2020 22:01:50 GMT -5
I miss being able to stand next to people. And I miss being able to get a haircut most of all. |
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Post by bones1026 on May 21, 2020 22:21:28 GMT -5
I miss being able to stand next to people. And I miss being able to get a haircut most of all. Who is who in this pic?. I recognize a few |
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Post by longliner on May 21, 2020 23:23:29 GMT -5
I guess that the PPP money is a better source. It's $5M less but if you can get it forgiven it's free money, and if not the interest rate is far better than MidCap. I’m sure that played into it, but the fact they they decided they didn’t need the extra 10 right now, still with the uncertainty of COVID..is impossible to not to like. That was odd, wasn't it? |
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Post by goyocafe on May 21, 2020 23:55:16 GMT -5
I’m sure that played into it, but the fact they they decided they didn’t need the extra 10 right now, still with the uncertainty of COVID..is impossible to not to like. That was odd, wasn't it? From StockTwits: "Don't forget that mnkd didn't "take" the $10M from MidCap because they failed to meet the paltry sales conditions. From 10Q page 7 dated May 6, 2020: : (1) $10.0 million was available to the Company until April 15, 2020, provided that the Company had achieved Afrezza net revenue of at least $30.0 million on a trailing twelve month basis by that date (which was not achieved)." I did not verify this statement, but it does raise the question of how MC phrased it, as a choice they made, v.s. the possibility they didn't have a choice because they didn't satisfy the covenants. |
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Post by longliner on May 22, 2020 0:32:53 GMT -5
From StockTwits: "Don't forget that mnkd didn't "take" the $10M from MidCap because they failed to meet the paltry sales conditions. From 10Q page 7 dated May 6, 2020: : (1) $10.0 million was available to the Company until April 15, 2020, provided that the Company had achieved Afrezza net revenue of at least $30.0 million on a trailing twelve month basis by that date (which was not achieved)." I did not verify this statement, but it does raise the question of how MC phrased it, as a choice they made, v.s. the possibility they didn't have a choice because they didn't satisfy the covenants. I'm curious which it was? |
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Post by brotherm1 on May 22, 2020 5:42:41 GMT -5
I guess that the PPP money is a better source. It's $5M less but if you can get it forgiven it's free money, and if not the interest rate is far better than MidCap. I’m sure that played into it, but the fact they they decided they didn’t need the extra 10 right now, still with the uncertainty of COVID..is impossible to not to like. . I did not hear him say they did not need it. I heard they did not take it. Did he in fact say they did not need it? |
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Post by peppy on May 22, 2020 6:04:29 GMT -5
I miss being able to stand next to people. And I miss being able to get a haircut most of all. Who is who in this pic?. I recognize a few One of the people, Baba. Can you find baba? Where's Baba?  |
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Post by agedhippie on May 22, 2020 7:46:34 GMT -5
From StockTwits: "Don't forget that mnkd didn't "take" the $10M from MidCap because they failed to meet the paltry sales conditions. From 10Q page 7 dated May 6, 2020: : (1) $10.0 million was available to the Company until April 15, 2020, provided that the Company had achieved Afrezza net revenue of at least $30.0 million on a trailing twelve month basis by that date (which was not achieved)." I did not verify this statement, but it does raise the question of how MC phrased it, as a choice they made, v.s. the possibility they didn't have a choice because they didn't satisfy the covenants. I will check, but I am pretty certain that is incorrect as it was lowered in the revised agreement. |
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Post by figglebird on May 22, 2020 7:54:42 GMT -5
It was available per my recolection
For whatever reason, MC opted not to take the lend for spend
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Post by andy282828 on May 22, 2020 8:04:55 GMT -5
It would be pretty difficult to defend taking the PPP "loan" when shortly after, you get a $10 million dollar cash infusion...
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Post by agedhippie on May 22, 2020 8:21:50 GMT -5
Ok - that's weird. The tranche 3 requirement was revised, but the tranche 2 requirement wasn't. It looks to me like StockTwits was right (not something I often say). In other words it wasn't Mike's decision because they missed the revenue target so the option wasn't there.
At the moment they are comfortably on target for Tranche 3 (about $2.5M over today by my estimate).
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Post by gamblerjag on May 22, 2020 8:32:37 GMT -5
Who is who in this pic?. I recognize a few One of the people, Baba. Can you find baba? Where's Baba? . Red shirt front row right side…?? That’s my guess I think I remember from the comic sketch or something |
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Post by peppy on May 22, 2020 8:35:08 GMT -5
One of the people, Baba. Can you find baba? Where's Baba? . Red shirt front row right side…?? That’s my guess I think I remember from the comic sketch or something good try. That isn't baba. Where in the world is Baba? |
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Post by goyocafe on May 22, 2020 8:36:57 GMT -5
Ok - that's weird. The tranche 3 requirement was revised, but the tranche 2 requirement wasn't. It looks to me like StockTwits was right (not something I often say). In other words it wasn't Mike's decision because they missed the revenue target so the option wasn't there. At the moment they are comfortably on target for Tranche 3 (about $2.5M over today by my estimate). What it does indicate, however, is that MC still has the gift of gab and the ability to smythe his words to put the best light on a subject. Heaven forbid should he have just laid it out in true terms rather than mince words. Sad. |
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