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Post by prcgorman2 on Mar 31, 2023 9:10:06 GMT -5
uvula is correct, our votes aren’t needed for this to pass, and it 100% will pass. ”Adoption of the proposed amendment and issuance of the common stock would not affect the rights of the holders of currently outstanding common stock of the Company, except for, with respect to the issuance of additional shares, effects incidental to increasing the number of shares of the Company’s common stock outstanding, such as dilution” “stockholders should be aware that approval of the proposal could facilitate future efforts by the Company to deter or prevent changes in control of the Company, including transactions in which the stockholders might otherwise receive a premium for their shares over then current market prices.” Yup. Agree. The institutional investors are likely to approve the request. The stuff you quoted is worth noting even if it is only standard boilerplate needed to stay out of hot water with SEC and investors. |
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Post by agedhippie on Mar 31, 2023 10:35:01 GMT -5
This gets approved because it's perfectly standard. It is negligent to allow the number of outstanding shares to drop to low. There is nothing there to create any concern (and as Longliner will tell you I can always find a concern  ) |
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Post by cretin11 on Mar 31, 2023 11:23:47 GMT -5
Seems the price action yesterday could be a bit of an indicator of sentiment about the auth. shares increase. As might be the price action today. I don't expect it to be bullish. Agree.. no way to even spin it as bullish. True, but some (usual suspects) will surely try. Best case scenario (and hopefully) it's a neutral event. |
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Post by prcgorman2 on Mar 31, 2023 12:08:24 GMT -5
This gets approved because it's perfectly standard. It is negligent to allow the number of outstanding shares to drop to low. There is nothing there to create any concern (and as Longliner will tell you I can always find a concern ) Agree. |
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Post by mango on Mar 31, 2023 13:35:21 GMT -5
This gets approved because it's perfectly standard. It is negligent to allow the number of outstanding shares to drop to low. There is nothing there to create any concern (and as Longliner will tell you I can always find a concern ) Thanks for clearly it up for everyone aged. |
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Post by RainbowUnicorn on Mar 31, 2023 14:03:59 GMT -5
Here's a wild speculative thought. What if management already knows a big move is coming into play this year and they want the additional shares to be available as a backstop or poison pill to keep an unwanted third party from crashing the intended buyout or merger? No. I don't really believe this to be the case. Just having fun while bored and waiting on the next good announcement  ... or even a non nefarious third party. More ammo/power for any negotiations. "Keep your powder dry." |
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Post by whale1r1 on Apr 2, 2023 10:14:17 GMT -5
Mannkind shareholders
I encourage all shareholders to make a firm statement to the board this year. Authorization of 400 million shares needs to come with accountability. Shareholders should know exactly where those funds will be used if the shares are executed, research, sales, M&A, etc. Second, leadership needs to set the example. While I commend our CEO for buying stock and not selling stock and setting an example, our investor relations lead rose a thinks it is acceptable to sell small amounts for “tax purposes”. It is not acceptable and we need to make a point. As long as this company is unprofitable, anyone in senior leadership and any company employe should be penalized for selling stock unless it’s for a rare event such as to pay for medical bills due to a stoke heart attack etc. once the company is profitable, a penalty should also be incurred for stock that is not held for more than 5 years from award.
Regarding the board, this is something they should have picked up on and therefore they need to be more forward thinking vs reactive.
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Post by hellodolly on Apr 2, 2023 12:26:16 GMT -5
I'll chime in late as I was tied up this weekend with family visits, FAU basketball ( boca1girl, we know FAU), travel and a sailor home from San Diego "Let's Roll". Most everything has been covered here and I don't have too much to add other than to reaffirm what's really important; a need to always have shares available as economic uncertainty can present challenges if unprepared and/or they can present opportunities with peace of mind. Any CFO who can't see the forest through the trees and doesn't have an organization prepared for future risks jeopardizes the company and YOUR investment. Besides, it seems to me that a fundamental strategic objective of publicly traded companies is to make sure they can use all of their economic tools to maintain operational goals. An example was the Christmas Massacre. Would we still be here even having the discussion on the possibility of being cash flow break even in 2024 without that massacre? Nobody has to like it...and, most here don't. But, it was strategically vital to make sure MNKD stayed in business during a very crucial time in the history of MNKD. Mike has said many times that MNKD was only one quarter away from bankruptcy. His difficult decision firmly distanced your investment far away from that crisis, coupled with the sale-leaseback transaction. I hate preaching to the choir, honestly. Stop with your BS about dilution worries. You're in the wrong investment space if you can't stomach that necessary arrangement. It's all contrived fodder for the crew who love to commiserate about the "sky is falling on MNKD", Monday through Friday, 24/7/365. Join that crew or join MNKD? |
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Post by caesar on Apr 2, 2023 16:41:25 GMT -5
I'll chime in late as I was tied up this weekend with family visits, FAU basketball ( boca1girl , we know FAU), travel and a sailor home from San Diego "Let's Roll". Most everything has been covered here and I don't have too much to add other than to reaffirm what's really important; a need to always have shares available as economic uncertainty can present challenges if unprepared and/or they can present opportunities with peace of mind. Any CFO who can't see the forest through the trees and doesn't have an organization prepared for future risks jeopardizes the company and YOUR investment. Besides, it seems to me that a fundamental strategic objective of publicly traded companies is to make sure they can use all of their economic tools to maintain operational goals. An example was the Christmas Massacre. Would we still be here even having the discussion on the possibility of being cash flow break even in 2024 without that massacre? Nobody has to like it...and, most here don't. But, it was strategically vital to make sure MNKD stayed in business during a very crucial time in the history of MNKD. Mike has said many times that MNKD was only one quarter away from bankruptcy. His difficult decision firmly distanced your investment far away from that crisis, coupled with the sale-leaseback transaction. I hate preaching to the choir, honestly. Stop with your BS about dilution worries. You're in the wrong investment space if you can't stomach that necessary arrangement. It's all contrived fodder for the crew who love to commiserate about the "sky is falling on MNKD", Monday through Friday, 24/7/365. Join that crew or join MNKD? The "sky has been falling on MNKD" for almost a decade, that's old news! It's time for a steady stream of sunshine going forward. Mannkind has been a tough stock to own over the long haul because of the potential of Technosphere and the myriad of obstacles Afrezza has faced in the marketplace. All's good under the hood, so to speak. Looking forward to the balance of 2023 (positive earnings) and advancing the pipeline into 2025 (kick in the ass). |
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Post by ktim on Apr 2, 2023 17:25:06 GMT -5
hellodolly, nobody would be talking dilution now if not for the company's apparent belief in needing to DOUBLE the number of shares. The reason they must bring that to shareholder vote is exactly because it's not a nothing issue. They likely have enough support, so I have no illusion my vote against it will be anything other than symbolic.
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Post by uvula on Apr 2, 2023 17:46:24 GMT -5
Whale, even though mnkd is a publicly traded company, its business strategy and decisions are not public. No company will reveal the details you are asking for.
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Post by hellodolly on Apr 3, 2023 6:35:26 GMT -5
hellodolly , nobody would be talking dilution now if not for the company's apparent belief in needing to DOUBLE the number of shares. The reason they must bring that to shareholder vote is exactly because it's not a nothing issue. They likely have enough support, so I have no illusion my vote against it will be anything other than symbolic. You make my point. Registrations are abundant and share authorizations are necessary, not because "nothing is happening" but rather, in support of being be prepared if something happens. Nobody can say with any certainty how, when and if they will be used in accordance to the prospectus. It's absolutely necessary, for the reasons in my above Op. |
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Post by prcgorman2 on Apr 3, 2023 6:48:32 GMT -5
hellodolly , nobody would be talking dilution now if not for the company's apparent belief in needing to DOUBLE the number of shares. The reason they must bring that to shareholder vote is exactly because it's not a nothing issue. They likely have enough support, so I have no illusion my vote against it will be anything other than symbolic. You make my point. Registrations are abundant and share authorizations are necessary, not because "nothing is happening" but rather, in support of being be prepared if something happens. Nobody can say with any certainty how, when and if they will be used in accordance to the prospectus. It's absolutely necessary, for the reasons in my above Op. ktim is also making MTOI’s point - buy all the cheap shares you can.  |
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Post by alethea on Apr 3, 2023 10:04:08 GMT -5
hellodolly , nobody would be talking dilution now if not for the company's apparent belief in needing to DOUBLE the number of shares. The reason they must bring that to shareholder vote is exactly because it's not a nothing issue. They likely have enough support, so I have no illusion my vote against it will be anything other than symbolic. Would someone with good research skills (Brentie??) please post the date and the stock price the last time MNKD increased the Authorized share-count? My poor memory feels like it's been three years or more but I don't really know. I think folks were upset last time this happened, a lot of squawking, so it would be nice to see what has happened since. |
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Post by diski58 on Apr 3, 2023 11:19:48 GMT -5
April 1st, 2020 shares increased from 280,000 - 400,00 voted on Pre 14 A SEC filing and the price was around $1.06-$1.15 or there about.This is ball park ish and I believe the last one? If it matters price action trended up from there Attachments:
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