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Post by mnkdnewb on Jan 11, 2016 12:20:36 GMT -5
"I hope we don't hit .02"
that would be a market cap of roughly $8,000,000. Surely their buildings are worth more quite a bit more than that. it would also mean Al's shares would be worth roughly $2,500,000. i don't think Al would be "ok" with that after he has put over $1 billion into his namesake company and he still believes in Afrezza. SOMETHING will happen in the next few weeks, though it may not be great... right now his shares are worth $87 million from his $1 billion investment. why not cough up a few hundred million more at this point to see it through???
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Post by compound26 on Jan 11, 2016 12:21:52 GMT -5
Wow. How time changes everything. No, I am not being sarcastic. Almost everyone on this board praised Matt for doing a great job at the BofA presentation last May. mnkd.proboards.com/post/25494/thread
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Post by dictatorsaurus on Jan 11, 2016 12:32:50 GMT -5
Just noticed no mention of a search for a replacement CFO.
Where are the conspiracy theorists when you need one...
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Post by silentknight on Jan 11, 2016 12:34:46 GMT -5
If I were Patrick Sullivan, President & CEO of Insulet, and I had been reading testimonial blogs from early adopters about how Afrezza may wind up putting insulin pumps out of business, I don't think that I'd hesitate to threaten MannKind with a multi-$million (if not a $billion) lawsuit if I had that card in my hand.
I cannot think of any of the big players in the diabetes treatment industry who will benefit by Afrezza doing well or who want it to succeed.
I think Insulet probably pushed back on the hiring, but even if they did, it makes MNKD look like idiots, especially after they put out a press release stating they were prepared for and would represent DeSisto in the event his hiring complicated his departure from Insulet. Whatever the case, MNKD comes out looking like DeSisto either bailed on them (a very likely possibility) or they're hypocrites for rescinding the offer after they specifically said they were prepared for any such contingency. I'm not sure which is worse to be honest. It's amateurish management plain and simple but I'm not sure why I expected anything different. They've proven themselves inept over and over again. If there is or will be an offer for a buyout, I just hope they don't screw that up too. If they do, might need to go back and dig up some of those phone numbers for the law firms investigating them for securities violations...
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Post by alethea on Jan 11, 2016 12:39:38 GMT -5
"I hope we don't hit .02" that would be a market cap of roughly $8,000,000. Surely their buildings are worth more quite a bit more than that. it would also mean Al's shares would be worth roughly $2,500,000. i don't think Al would be "ok" with that after he has put over $1 billion into his namesake company and he still believes in Afrezza. SOMETHING will happen in the next few weeks, though it may not be great... right now his shares are worth $87 million from his $1 billion investment. why not cough up a few hundred million more at this point to see it through??? Why in the world do you think Al has a few hundred million more? My memory stinks, but wasn't Al worth around 2 billion plus a couple/several years ago as reported by Forbes when MKND stock price was flying high? What makes you think he still has that kind of money? I doubt he is now worth even one billion. And I doubt he has two hundred million in cash or other very liquid assets. And who is to say he would be willing to risk pretty much all of what he has left?
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Jan 11, 2016 12:40:41 GMT -5
I wonder why we haven't yet seen the SP crater with nearly one million shares traded? I suspect b/c this improves near-term odds of a sale Theres going to be a lot of covering going on there is alot of opportunity on the board in other stocks. MNKD can drag this out for as bit. Shorts will move on
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Post by mnkdnewb on Jan 11, 2016 12:43:10 GMT -5
Just noticed no mention of a search for a replacement CFO. Where are the conspiracy theorists when you need one... Their website is already updated showing Matt as CEO and CFO. Just needs to play both for a little while until SOMETHING else happens...
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Post by silentknight on Jan 11, 2016 12:44:45 GMT -5
I don't think Al is stepping in to save the company, at least not anymore. If he intended to do that, we likely would have already seen some evidence of that or SEC filings of the sort.
MNKD has had liquidity concerns for a while now and he hasn't stepped in. He probably doesn't have the cash to do it, or he's likely written things off. He has inside knowledge, so his reluctance to buy in more suggests that he views it as a black hole that probably isn't worth it.
People depending on Sugar Daddy Al to save the day are likely going to be even more disappointed than they already are. They need to sell, immediately, for whatever a buyer is willing to pay. Al will just have to take a loss like the rest of us.
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Post by jay1ajay1a on Jan 11, 2016 12:50:49 GMT -5
Wow. How time changes everything. No, I am not being sarcastic. Almost everyone on this board praised Matt for doing a great job at the BofA presentation last May. mnkd.proboards.com/post/25494/threadI have nothing but praises for Mike, he is the best person on the management team. As I have said before, this move with the CEO looks very bad for MNKD. IMHO. We can only hope there is some good news very soon.
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Post by babaoriley on Jan 11, 2016 12:52:25 GMT -5
C'mon, guys, this is good news, just think of the money we're saving on salaries. Matt can have all the positions. And for all of you who think this is the last straw, patience, we seem to have more straws than a soda fountain!
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nsmyth
Lab Rat
Posts: 43
Sentiment: Long
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Post by nsmyth on Jan 11, 2016 12:55:38 GMT -5
Wow. How time changes everything. No, I am not being sarcastic. Almost everyone on this board praised Matt for doing a great job at the BofA presentation last May. mnkd.proboards.com/post/25494/threadI have nothing but praises for Mike, he is the best person on the management team. As I have said before, this move with the CEO looks very bad for MNKD. IMHO. We can only hope there is some good news very soon. been hoping for a long time with this one. I ran out of hope. I expect its being carved up and sold at this point. hard to see another plausible scenario.
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Post by compound26 on Jan 11, 2016 13:12:47 GMT -5
Let's hope Matt has some concrete plans laid out for Mannkind. For all it is worth, Matt does seem to be an upgrade from Hakan in that: 1. Matt is more outspoken. At least he did a good job at the BofA presentation last May and sounded more confident and forceful than Hakan in the last several conference calls. 2. Matt has some connections to the shareholders. Note that Hakan made many automated sales of his shares in 2014-2015. Matt has very few of them compared with Hakan and some other directors/officers. Hakan had to be educated by the shareholders to cancel his automatic sales. 3. Matt probably has closer relation to Al than Hakan and therefore he probably will have a better chance to execute his plans (than Hakan did with his plans). In this interview in 2013, Al Mann brought Matt (not Hakan) with him. While I certainly hoped Duane DeSisto was able to take the job as CEO for Mannkind. Matt is all we have at this moment. Matt does have all the knowledge and information on Afrezza and Mannkind. (Whereas it may take Duane DeSisto a fews weeks to get himself educated on these things.) And based on the statements Matt made on Jan. 5, Mannkind has had independent market research on Afrezza, it appears Mannkind has had some preparation for revamping the market strategy of Afrezza. And what Matt stated in terms of the revised strategy does make senses to me (i.e., different pricing, educating the doctors and patients on how to get the most benefits from Afrezza, etc.). Again, hope Matt has some concrete plans laid out for Mannkind and is able to execute such plans. Additionally, based on this post, if the source is reliable, it appears that, had Duane DeSisto been able to take the CEO job, it would take some time for Duane DeSisto and Matt to establish an efficient working relationship.
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Post by greg on Jan 11, 2016 13:23:06 GMT -5
Compound26,
I echo a lot of your thoughts.
I'm taking a pounding on my investment here but think it's disgraceful how some of you are talking about Matt. It's not his fault that Sanofi did what it did. I also don't think he could've done much about all the fud that's contributed so greatly to the stock's plummet. We're all big boys and girls, so we should take the pain without trying to blame someone else.
Matt is going to need all the confidence and support he can get to move the company forward, and none of what's being said here is of any help to him or any long. Time to grow up.
If anyone has Matt's email handy, I would appreciate it. I'm going to send him a congratulatory message and offer whatever help I can provide.
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Post by mindovermatter on Jan 11, 2016 13:35:02 GMT -5
Compound26, I echo a lot of your thoughts. I'm taking a pounding on my investment here but think it's disgraceful how some of you are talking about Matt. It's not his fault that Sanofi did what it did. I also don't think he could've done much about all the fud that's contributed so greatly to the stock's plummet. We're all big boys and girls, so we should take the pain without trying to blame someone else. Matt is going to need all the confidence and support he can get to move the company forward, and none of what's being said here is of any help to him or any long. Time to grow up. True but i think it is fair to question why Matt, as the CEO, didn't prepared in case Sanofi did pull out and why money wasn't raised when the PPS was much higher to help buffer the company. That's his job as a CFO.
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Post by greg on Jan 11, 2016 13:43:58 GMT -5
Compound26, I echo a lot of your thoughts. I'm taking a pounding on my investment here but think it's disgraceful how some of you are talking about Matt. It's not his fault that Sanofi did what it did. I also don't think he could've done much about all the fud that's contributed so greatly to the stock's plummet. We're all big boys and girls, so we should take the pain without trying to blame someone else. Matt is going to need all the confidence and support he can get to move the company forward, and none of what's being said here is of any help to him or any long. Time to grow up. True but i think it is fair to question why Matt, as the CEO, didn't prepared in case Sanofi did pull out and why money wasn't raised when the PPS was much higher to help buffer the company. That's his job as a CFO. Mindovermatter, I completely disagree with you. I don't think it's fair to question Matt on those issues. First of all, how do you know what preparations were made for that contingency? Second, when would you have suggested the company raise money? When the price was $10, $9, $7, $5, etc??? Keep in mind, if the manipulators hadn't dragged the price down and the convertibles were exchanged for stock, there would be no liquidity concerns. On the flip side, I'm guessing, if the company had in fact sold stock at $6 and conversion happened, some of us would be criticising him for needless dilution. Third, I could ask you the same question. Why didn't sell your MNKD shares when the price was higher? I'm assuming you didn't. You're criticising with the benefit of hindsight.
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