Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Nov 9, 2015 8:26:25 GMT -5
Al has invested more than a decade of his life and more than a $billion to get to this point. I am positive he has or will step financial assist during this transition period. Good news will be discussed on the call. At this years annual shareholders meeting in Danbury, Matt said that Al would increase the line of credit above the existing $30mm from The Mann Group if needed. Matt was seated next to Al when this statement was made. I have heard nothing that would indicate that Al has changed his position on this. With $32.9mm in cash on hand as of 9-30-15, they have no choice but to address their cash position in todays call.
|
|
|
Post by caveintemptor on Nov 9, 2015 8:33:59 GMT -5
We know million of shares must be bought next Sunday Nov 15 on MNKD inclusion in TASE index. This should bring the PPS up.
The situation is obviously not as dire as AF wants us to believe...
|
|
|
Post by kball on Nov 9, 2015 8:40:28 GMT -5
Any brave souls buying today? I haven't bought any in over 6 weeks
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Nov 9, 2015 9:03:30 GMT -5
We know million of shares must be bought next Sunday Nov 15 on MNKD inclusion in TASE index. This should bring the PPS up. The situation is obviously not as dire as AF wants us to believe... To Kastanes point, Al started Mannkind in 1999. He won't let his child die, no way, no how. If no discussion about cash today, then they either continue to march on with periodic PR about cash infusions or the stock gets hammered and strategic investors take over the assets.
|
|
|
Post by peppy on Nov 9, 2015 9:07:11 GMT -5
|
|
|
Post by mnholdem on Nov 9, 2015 9:24:10 GMT -5
AF's comment that MannKind has only $8M means that in his next hit piece, he will insist (again) that $25M of the remaining cash is untouchable.
|
|
|
Post by kc on Nov 9, 2015 9:29:19 GMT -5
We may be very close to another milestone payment too. Matt indicated back in September one was close
|
|
|
Post by caveintemptor on Nov 9, 2015 9:33:28 GMT -5
$25 M minimum is a Deerfield debt covenant, it is in the 10q.
What AF conveniently forget are the $30.1 M available from Al, the $37.5 available ATM, or the impact of TASE indexing on Sunday in conjunction with the reduced number of shares available for shorting since the 9 M from BoA were returned.
|
|
|
Post by cfield23 on Nov 9, 2015 10:38:26 GMT -5
$25 M minimum is a Deerfield debt covenant, it is in the 10q. What AF conveniently forget are the $30.1 M available from Al, the $37.5 available ATM, or the impact of TASE indexing on Sunday in conjunction with the reduced number of shares available for shorting since the 9 M from BoA were returned. I was about to say this. AF is right, unfortunately. They've got 32.9M left in cash, but Deerfield debt covenant says they must keep $25M as a minimum. We need cash.
|
|
|
Post by cjc04 on Nov 9, 2015 10:48:59 GMT -5
Good god!!! After all that drama in Aug & Sept over resolving the debt, they just use cash to pay it.....
Maybe if they did that in the first place, or were a little more transparent while it was happening, they could've saved the stock price a little (aka kept some longs from selling).... Instead, they let UNCERTAINTY do all the work on the stock over the last 2 months, and now the only thing they have to reveal is they're broke.
WTF,,, it seems like the perfect plan to get maximum share price destruction.
|
|
|
Post by tbone on Nov 9, 2015 10:49:58 GMT -5
$25 M minimum is a Deerfield debt covenant, it is in the 10q. What AF conveniently forget are the $30.1 M available from Al, the $37.5 available ATM, or the impact of TASE indexing on Sunday in conjunction with the reduced number of shares available for shorting since the 9 M from BoA were returned. I was about to say this. AF is right, unfortunately. They've got 32.9M left in cash, but Deerfield debt covenant says they must keep $25M as a minimum. We need cash. How much do we owe Deerfield?
|
|
|
Post by rrtzmd on Nov 9, 2015 10:51:59 GMT -5
$25 M minimum is a Deerfield debt covenant, it is in the 10q. What AF conveniently forget are the $30.1 M available from Al, the $37.5 available ATM, or the impact of TASE indexing on Sunday in conjunction with the reduced number of shares available for shorting since the 9 M from BoA were returned. One problem with the $37.5 available ATM is that the more it's used, the greater the downward pressure on share price. Using the Mann Group loan just puts them deeper in debt, and still doesn't address the issue of how to pay the 25-30 million quarterly burn while maintaining 25 million for debt covenants. Afrezza is unlikely to make a significant contribution for who knows how long. Unless Mann and/or Sanofi loosen their purse strings, I see no way out short of a large secondary.
|
|
|
Post by rrtzmd on Nov 9, 2015 10:59:40 GMT -5
I was about to say this. AF is right, unfortunately. They've got 32.9M left in cash, but Deerfield debt covenant says they must keep $25M as a minimum. We need cash. How much do we owe Deerfield? From the SEC filing: As of September 30, 2015, we had $185.4 million principal amount of outstanding debt, consisting of: • $27.7 million principal amount of 2018 notes bearing interest at 5.75% per annum and maturing on August 15, 2018; • $60.0 million principal amount of 2019 notes bearing interest at 9.75% per annum, $5.0 million of which is due and payable in July 2016, $15.0 million of which is due and payable in July 2017, $15.0 million of which is due and payable in July 2018 and $25.0 million of which is due and payable in July and December 2019; • $20.0 million principal amount of Tranche B notes bearing interest at 8.75% per annum, $5.0 million of which is due and payable in each of May 2017, 2018 and 2019, and $5 million of which is due and payable in December 2019; • $49.5 million principal amount of indebtedness under the Loan Arrangement bearing interest at 5.84% and maturing and due on January 5, 2020; and • $28.2 million principal amount borrowed under the Sanofi Loan Facility to fund our share of net losses under the Sanofi License Agreement." I believe -- not at all sure -- the first three belong belong to Deerfield.
|
|
|
Post by parrerob on Nov 9, 2015 11:10:39 GMT -5
Good god!!! After all that drama in Aug & Sept over resolving the debt, they just use cash to pay it..... Maybe if they did that in the first place, or were a little more transparent while it was happening, they could've saved the stock price a little (aka kept some longs from selling).... Instead, they let UNCERTAINTY do all the work on the stock over the last 2 months, and now the only thing they have to reveal is they're broke. WTF,,, it seems like the perfect plan to get maximum share price destruction.
Exactly, the fact They used part from cash to close the debt, just few weeks ago, should mean They are not worried about cash flow. They should not be ! But once again, report came out this morning leaving MNKD trading today with only 8 Million cash and no other information, till hopefully this evening.
If I remember MNKD was used to have conference call before WS opening and not after the closure .... Am I wrong in this remembering ?
Thanks R.
|
|
|
Post by pengiep on Nov 9, 2015 11:18:41 GMT -5
"Exactly, the fact They used part from cash to close the debt, just few weeks ago, should mean They are not worried about cash flow."- This is what reasonable and intelligent people would assume. But since Afrezza was approved, I have yet to see MNKD management do anything that didn't turn out to be completely wrong-footed. I've never seen a supposedly competent managing group be so dependably wrong. Hakan, Matt etc. should all have been replaced shortly after approval.
|
|