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Post by lakon on Jul 18, 2016 11:34:48 GMT -5
Doubtful they will cut and run. They want the best return for the trust income and growth. Why would the trust sell it at a big loss when in 12 to 24 months they might get $10 or more. The Mann's are very patient folks and don't need the money today to live on. We will see. They can't cut and run because it would decimate the share price and they would lose a shit ton of money. I can guarantee you they are thinking how can we get the most out with destroying the share price and maximizing what Al left to them. They are certainly not letting this ride on MNKD. That is just lunacy to think that. If you won lotto tomorrow would you put 153,000,000 into mnkd (amount of shares left to the Mann Foundation) when you could easily earn 4-5% on something much safer? Maybe, but I can only guarantee that I would put in $150,000,000 at $0.99/sh or less, assuming your suggested lotto winnings were after taxes. "You can't lose what you don't put in the middle. But you can't win much either."  What you neglected to mention, or realize, IS that they were worth far more on paper before the decline of MNKD share price. They road it down. I expect they will ride it up. I especially liked to see Claude Mann in Mike's twitter feed at Afrezza training camp... ...just a thought. |
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Post by mnkdfann on Jul 18, 2016 11:57:11 GMT -5
We have been informed by the trustees for the Mann Affiliated Entities that the trustees may seek to dispose of some or all of the shares beneficially owned by the Mann Affiliated Entities, pursuant to one or more trading plans under Rule 10b5-1 of the Exchange Act or otherwise. Although at this time we are not aware of any definitive decision by the trustees relating to the holding or disposition of the shares held by the Mann Affiliated Entities, any sales of our common stock by the Mann Affiliated Entities, or the perception that such sales may occur, including the entry into any such trading plans, could have a material adverse effect on the trading price of our common stock and could make it more difficult for us to raise capital through the sale of our common stock or securities convertible into or exercisable for our common stock, which could have a material adverse effect on our business and financial condition. files.shareholder.com/downloads/AMDA-22AIJ9/2232725019x0xS1193125-16-583791/899460/filing.pdfA very dangerous claim by the poster, and my point is only to shed light on a situation for those that are to inexperienced to figure this out for themselves. The SEC filing was May 9, and it was an end of quarter report as of March 31. None of us know when the trustees gave MNKD that alert. We do know MNKD was, for the most part, trading between $1.50 and $2.10 during that time period (March to May 9). And we know it dropped over 30% the day after the SEC filing came out. And today it is holding $1.00 if we are lucky. I don't know what the trustees have been doing, but I would bet my last dollar that they have not been net buyers in recent months. |
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Post by madog365 on Jul 18, 2016 12:07:35 GMT -5
If they were selling it would have to be disclosed in a public filing by Mannkind since they are over 5% holders. There has been no filing.
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Post by lakon on Jul 18, 2016 12:40:49 GMT -5
We have been informed by the trustees for the Mann Affiliated Entities that the trustees may seek to dispose of some or all of the shares beneficially owned by the Mann Affiliated Entities, pursuant to one or more trading plans under Rule 10b5-1 of the Exchange Act or otherwise. Although at this time we are not aware of any definitive decision by the trustees relating to the holding or disposition of the shares held by the Mann Affiliated Entities, any sales of our common stock by the Mann Affiliated Entities, or the perception that such sales may occur, including the entry into any such trading plans, could have a material adverse effect on the trading price of our common stock and could make it more difficult for us to raise capital through the sale of our common stock or securities convertible into or exercisable for our common stock, which could have a material adverse effect on our business and financial condition. files.shareholder.com/downloads/AMDA-22AIJ9/2232725019x0xS1193125-16-583791/899460/filing.pdfA very dangerous claim by the poster, and my point is only to shed light on a situation for those that are to inexperienced to figure this out for themselves. The SEC filing was May 9, and it was an end of quarter report as of March 31. None of us know when the trustees gave MNKD that alert. We do know MNKD was, for the most part, trading between $1.50 and $2.10 during that time period (March to May 9). And we know it dropped over 30% the day after the SEC filing came out. And today it is holding $1.00 if we are lucky. I don't know what the trustees have been doing, but I would bet my last dollar that they have not been net buyers in recent months. I would not make the same bet as you. They would have had to disclose selling. They would not have had to disclose their participation in the deal that just happened. They could have purchased enough shares to avoid being diluted too much. |
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Post by mnkdfann on Jul 18, 2016 12:48:19 GMT -5
If they were selling it would have to be disclosed in a public filing by Mannkind since they are over 5% holders. There has been no filing. Which may mean nothing. See below from page 5 of the "Is this the Shorts Last Hurrah?" thread: The only way you will see changes in private holdings is if the individual entity has filed a 13D or 13G, which is required if the entity purchases more than 5% or if it makes a subsequent change equal to more than 1% of the shares outstanding. If Al Mann had 35% of the shares spread around 10 separate entities in roughly equal proportions, then each entity would only own 3.5% and would not have to file disclosures (there are complicated rules for figuring out if two entities are under common control and therefor must be combined for reporting, but I have not had enough coffee to even think about explaining that). The bottom line, if the various foundations and trusts that remained after Al's death each have less than 5% of the shares they can sell it all without having to report anything. You can be sure that Al's private wealth advisers thought carefully about such things when the structure was set-up in the first place, and the trustees will diversify the holdings quietly to avoid putting too much pressure on the PPS. Remember that the trustees that control the various foundations have a fiduciary obligation to act in the best interest of the trust even if that is not to the advantage of the company, and over concentration of holdings in a highly volatile company violates their legal obligation to act with prudence. Since the trustees can be sued by the beneficiaries, they tend to take such obligations very seriously. |
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Post by madog365 on Jul 18, 2016 12:59:46 GMT -5
I get what you and Matt are saying but: Mannkind would still have to update it's shareholders on it's ownership profile. The Alfred Mann trust ownership percentage would decrease correct? When is the date this get's updated? As of March they were adding shares. investors.mannkindcorp.com/ownership-profile.cfm |
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Post by mnkdfann on Jul 18, 2016 13:55:09 GMT -5
I get what you and Matt are saying but: Mannkind would still have to update it's shareholders on it's ownership profile. The Alfred Mann trust ownership percentage would decrease correct? When is the date this get's updated? As of March they were adding shares. investors.mannkindcorp.com/ownership-profile.cfmAs of March, so it is old news. FWIW, it looks like that page is updated every quarter. So maybe it gets updated in August? So now we are back full circle. To wit: The SEC filing that advised about trustees giving notice they may sell shares was May 9, and it was an end of quarter report as of March 31. None of us know when the trustees gave MNKD that alert. We do know MNKD was, for the most part, trading between $1.50 and $2.10 during that time period (March to May 9). And we know it dropped over 30% the day after the SEC filing came out. And today it is holding $1.00 if we are lucky. So, once again, I don't know what the trustees have been doing, but I would bet my last dollar that they have not been net buyers in recent months. I guess we may hear something one way or another next month.  |
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Post by factspls88 on Jul 18, 2016 15:40:42 GMT -5
Very simple. Al would have made sure the trust was instructed in many ways and had guidelines and parameters. I would imagine one was not to sell at these levels. We all know his passion for helping others and his understanding how much AFREZZA and technosphere would help people live better. Next time start your topic with "I believe". This is nothing but speculation. |
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Post by nylefty on Jul 18, 2016 18:45:41 GMT -5
Very simple. Al would have made sure the trust was instructed in many ways and had guidelines and parameters. I would imagine one was not to sell at these levels. We all know his passion for helping others and his understanding how much AFREZZA and technosphere would help people live better. Next time start your topic with "I believe". This is nothing but speculation. Maybe you should think about posing such comments as suggestions rather than orders. I get my back up when people who aren't holding firearms give me orders to behave their way. |
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Post by Deleted on Jul 19, 2016 7:56:38 GMT -5
They can't cut and run because it would decimate the share price and they would lose a shit ton of money. I can guarantee you they are thinking how can we get the most out with destroying the share price and maximizing what Al left to them. They are certainly not letting this ride on MNKD. That is just lunacy to think that. You can "guarantee" this? Really? What about the interview Al did several years ago in which he said his will instructed the foundation to make sure that his companies had enough money? Is it "lunacy" to think that the foundation might actually honor Al's wishes? www.nytimes.com/2007/11/16/business/16mannkind.html?pagewanted=printMr. Mann, who survived two minor bouts of cancer but said he was now healthy, said his will instructed the foundation that is to inherit his wealth to make sure that his companies have enough money.Yes I can, its called an exit strategy. A few years ago? Try that article is from 2007. I think a tad bit has changed since then. Stop reading stock twits is rotting your brain |
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Post by Deleted on Jul 19, 2016 8:00:48 GMT -5
They can't cut and run because it would decimate the share price and they would lose a shit ton of money. I can guarantee you they are thinking how can we get the most out with destroying the share price and maximizing what Al left to them. They are certainly not letting this ride on MNKD. That is just lunacy to think that. If you won lotto tomorrow would you put 153,000,000 into mnkd (amount of shares left to the Mann Foundation) when you could easily earn 4-5% on something much safer? Maybe, but I can only guarantee that I would put in $150,000,000 at $0.99/sh or less, assuming your suggested lotto winnings were after taxes. "You can't lose what you don't put in the middle. But you can't win much either." What you neglected to mention, or realize, IS that they were worth far more on paper before the decline of MNKD share price. They road it down. I expect they will ride it up. I especially liked to see Claude Mann in Mike's twitter feed at Afrezza training camp...
...just a thought. The market cap is debatable. Both sides of it being under and over price are reasonable. You have no argument from me that shorts are going to do what they do, but the wild card is the Mann Foundation. Thats my point and I will leave it at that. |
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Post by lakon on Jul 19, 2016 12:27:53 GMT -5
Next time start your topic with "I believe". This is nothing but speculation. Maybe you should think about posing such comments as suggestions rather than orders. I get my back up when people who aren't holding firearms give me orders to behave their way. I prefer to be holding firearms so there is no confusion about how I behave or the orders I choose to follow when the smoke clears. |
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Post by 4allthemarbles on Jul 19, 2016 13:04:59 GMT -5
Still speculation. However, with a stock price around $1.00, they SHOULD want a better return.
I remember a time when some people thought we had a $75 stock on our hands....
Not being negative, but this stock has been quite a learning experience.
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