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Post by xoxoxoxo on Jan 7, 2017 15:01:56 GMT -5
Maybe they need the additional cash on hand to pay MNKD more milestones??
One can still hope right?
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Post by agedhippie on Jan 7, 2017 15:12:21 GMT -5
So aged, are you all sayin' that we ain't no sofisticated investors here? ;-) I was trying to work out how state the requirement but to not say that!
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Post by ilovekauai on Jan 7, 2017 15:15:09 GMT -5
IMO too much hype on the RLS speculation, but understand the need to want a discussion. I just remained focused on what Michael C is doing this month to bulk up the sales force, in order to help boost Afrezza script counts later this quarter. Go MNKD!
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Post by mnholdem on Jan 7, 2017 15:23:48 GMT -5
The financing is of individual minimum investments of $25,000 in an attempt to raise a total of $6,250,000 21 investors so far for $2.525,000 total or an average individual investment of over $120,000 The securities are in the form of debt which seems to me would indicate RLS has assets to secure the debt and/or they pay a high interest rate and either RLS is producing income or is likely to soon be. www.sec.gov/Archives/edgar/data/1693768/000169376817000001/xslFormDX01/primary_doc.xmlWhat I find interesting about this document is how RLS lists itself under 4. Industry Group. They didn't classify the company as Healthcare: Biotechnology nor as Healthcare: Pharmaceutical but instead the director chose to mark the "Other" checkbox. Not the "Other Healthcare" box in the Healthcare section... they did not list themselves under any Industry at all. Curious. They are quite secretive and confirm this by checking 5. Issuer Size: "Decline to Disclose".
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Post by cjc04 on Jan 7, 2017 15:51:08 GMT -5
Nice find. Originally on a conference call didn't Matt indicate the person(s) behind RLS were prominent Seattle business people who wanted to remain anonymous? Why does a company backed by prominent business people need to raise $6.25 mm? Is this to mitigate the risk of entering the medical marijuana with multiple well healed backers to fend off risk, financial, political or otherwise? Does anyone remember when Andrea Leone Bay went to RLS I recall her LinkedIn showed her in Seattle. It now shows NYC area and I believe it has been this way for some time. Given her role, she needs to work in a lab somewhere. Wonder if her car is regularly parked in the MNKD plant in Danbury? I believe we found out she was at RLS just after she didn't show up to a conference to speak for MNKD, which I think was just before the RLS deal was announced. They were all pretty close together around a year ago... There is no doubt she is working in Danbury, unless there's a lab in Valencia... the point is, she's working in a MNKD facility. I clearly remember one of the details of the deal being that RLS would work with MNKD in their facility. Besides, does anyone really believe RLS has a lab... To take that a step further, IMO, nothing has changed with the daily routine of her job, other than the name on her check. From there is where I get really curious. Why did she need to switch employers? If RLS is paying for all the work to be done and it's being done in MNKD's facility, then why not just pay MNKD to pay her?? IMO, she may be the most interesting piece to all of this. She's a smart girl, she could work for anyone, anywhere. Yet she agreed to officially leave her long term employer MNKD, and go on the record working for RLS, a spec start up company. We talk all the time on these threads about too much speculation and reading into things, but if someone doesn't think there is something to read into with her, then their head is in he sand..... and I don't mean to say that something amazing is going on, the move could be to separate things in case of a BK or partial sale, but I have no doubt things are happening behind the scenes and we only know what we know, anything else is guessing, good or bad.
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Post by dg1111 on Jan 7, 2017 16:21:48 GMT -5
There were some pretty high net worth people who have been speculated to be behind RLS. If they are trying to raise $6m and so far have only been able to raise $2.5m, I think it's safe to say that they don't have any billionaires behind them.
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Post by kc on Jan 7, 2017 16:24:08 GMT -5
May be MNKD should do that..offer bonds to folks here on proboards. Do those buying bonds get any more information about the company, or are they investing $25K minimum based on a 8 1/2 x 11 glossy poster with no additional knowledge of who's behind this? If you're interested in investing I am sure you can find the prospectus for RLS get all the detailed information who they are and what they're intending on doing.
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Post by kc on Jan 7, 2017 16:25:12 GMT -5
Could someone open a 10-day survey thread here if Mnkd offers bonds directly to small Proboard investors starting at $25 K in increment of $25 K up to $150K at 8% annual compound rate maturing in 5 and 10 yrs, secured by the $25 M Valencia building and the Danbury plant? Let's see how much Mnkd can raise. One for 5yr. Another for 10yr Notes. Ditto RLS, make sure 4 surveys are side by side for easy comparison. You could sell bonds. Your problem is that you can only sell to what the SEC calls "sophisticated investors" and I suspect most of Proboard people will fail the SEC requirement (there are income and liquid asset minimums). Accredited investor
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Post by mnkdfann on Jan 7, 2017 16:51:52 GMT -5
You could sell bonds. Your problem is that you can only sell to what the SEC calls "sophisticated investors" and I suspect most of Proboard people will fail the SEC requirement (there are income and liquid asset minimums). Accredited investor The SEC does in fact use the phrase "sophisticated investors". Accredited and sophisticated are two different things. The RLS filing ticked off the box for Rule 506(b). That rule refers to both accredited and sophisticated investors, and it states: "The company may sell its securities to an unlimited number of ACCREDITED investors and up to 35 other purchasers. Unlike Rule 505, all non-accredited investors, either alone or with a purchaser representative, must be SOPHISTICATED - that is, they must have sufficient knowledge and experience in financial and business matters to make them capable of evaluating the merits and risks of the prospective investment." www.sec.gov/answers/rule506.htm
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Post by Deleted on Jan 7, 2017 17:35:44 GMT -5
Nice find. Originally on a conference call didn't Matt indicate the person(s) behind RLS were prominent Seattle business people who wanted to remain anonymous? Why does a company backed by prominent business people need to raise $6.25 mm? Is this to mitigate the risk of entering the medical marijuana with multiple well healed backers to fend off risk, financial, political or otherwise? Does anyone remember when Andrea Leone Bay went to RLS I recall her LinkedIn showed her in Seattle. It now shows NYC area and I believe it has been this way for some time. Given her role, she needs to work in a lab somewhere. Wonder if her car is regularly parked in the MNKD plant in Danbury? I believe we found out she was at RLS just after she didn't show up to a conference to speak for MNKD, which I think was just before the RLS deal was announced. They were all pretty close together around a year ago... There is no doubt she is working in Danbury, unless there's a lab in Valencia... the point is, she's working in a MNKD facility. I clearly remember one of the details of the deal being that RLS would work with MNKD in their facility. Besides, does anyone really believe RLS has a lab... To take that a step further, IMO, nothing has changed with the daily routine of her job, other than the name on her check. From there is where I get really curious. Why did she need to switch employers? If RLS is paying for all the work to be done and it's being done in MNKD's facility, then why not just pay MNKD to pay her?? IMO, she may be the most interesting piece to all of this. She's a smart girl, she could work for anyone, anywhere. Yet she agreed to officially leave her long term employer MNKD, and go on the record working for RLS, a spec start up company. We talk all the time on these threads about too much speculation and reading into things, but if someone doesn't think there is something to read into with her, then their head is in he sand..... and I don't mean to say that something amazing is going on, the move could be to separate things in case of a BK or partial sale, but I have no doubt things are happening behind the scenes and we only know what we know, anything else is guessing, good or bad. an employee working for a company doesnt just get check on the company's name. the company carries liability on them besides pot is controlled substance and equipment is proprietary to Mannkind. so RLS have to work initially in MNKD campus...wouldnt that make sense? SMH
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Post by brotherm1 on Jan 7, 2017 17:35:57 GMT -5
cjc04 above stated:
"I believe we found out she (Andea Leone Bay) was at RLS just after she didn't show up to a conference to speak for MNKD, which I think was just before the RLS deal was announced. They were all pretty close together around a year ago...
There is no doubt she is working in Danbury, unless there's a lab in Valencia... the point is, she's working in a MNKD facility. I clearly remember one of the details of the deal being that RLS would work with MNKD in their facility. Besides, does anyone really believe RLS has a lab...
To take that a step further, IMO, nothing has changed with the daily routine of her job, other than the name on her check. From there is where I get really curious. Why did she need to switch employers? If RLS is paying for all the work to be done and it's being done in MNKD's facility, then why not just pay MNKD to pay her??
IMO, she may be the most interesting piece to all of this. She's a smart girl, she could work for anyone, anywhere. Yet she agreed to officially leave her long term employer MNKD, and go on the record working for RLS, a spec start up company.
We talk all the time on these threads about too much speculation and reading into things, but if someone doesn't think there is something to read into with her, then their head is in he sand..... and I don't mean to say that something amazing is going on, the move could be to separate things in case of a BK or partial sale, but I have no doubt things are happening behind the scenes and we only know what we know, anything else is guessing, good or bad."
Excellent question. I certainly wish I knew the answer as to why she left MNKD for RLS. Could it be that because the industry RLS is in is expanding rapidly with much competition, RLS thus wanted her to work full-time plus on their product development and thus made the contract with MNKD contingent upon her working on this full-time with them? And to be certain she would they stipulated she must be employed by them and not MNKD. Working solely on this project and working for RLS, she would be reporting and working with RLS and not be encumbered in any way by MNKD should any conflicts arise between RLS and MNKD. And of course to get Andrea to leave MNKD they probably offered her a salary hard to refuse. If she remained employed by MNKD, MNKD would be in control of her efforts and not RLS.
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Post by nylefty on Jan 7, 2017 17:36:09 GMT -5
Do those buying bonds get any more information about the company, or are they investing $25K minimum based on a 8 1/2 x 11 glossy poster with no additional knowledge of who's behind this? If you're interested in investing I am sure you can find the prospectus for RLS get all the detailed information who they are and what they're intending on doing. You're "sure" of that? You mean that all the speculation going on here is unnecessary?
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Post by sayhey24 on Jan 7, 2017 18:36:31 GMT -5
Nice find. Originally on a conference call didn't Matt indicate the person(s) behind RLS were prominent Seattle business people who wanted to remain anonymous? Why does a company backed by prominent business people need to raise $6.25 mm? Is this to mitigate the risk of entering the medical marijuana with multiple well healed backers to fend off risk, financial, political or otherwise? Does anyone remember when Andrea Leone Bay went to RLS I recall her LinkedIn showed her in Seattle. It now shows NYC area and I believe it has been this way for some time. Given her role, she needs to work in a lab somewhere. Wonder if her car is regularly parked in the MNKD plant in Danbury? I believe we found out she was at RLS just after she didn't show up to a conference to speak for MNKD, which I think was just before the RLS deal was announced. They were all pretty close together around a year ago... There is no doubt she is working in Danbury, unless there's a lab in Valencia... the point is, she's working in a MNKD facility. I clearly remember one of the details of the deal being that RLS would work with MNKD in their facility. Besides, does anyone really believe RLS has a lab... To take that a step further, IMO, nothing has changed with the daily routine of her job, other than the name on her check. From there is where I get really curious. Why did she need to switch employers? If RLS is paying for all the work to be done and it's being done in MNKD's facility, then why not just pay MNKD to pay her?? IMO, she may be the most interesting piece to all of this. She's a smart girl, she could work for anyone, anywhere. Yet she agreed to officially leave her long term employer MNKD, and go on the record working for RLS, a spec start up company. We talk all the time on these threads about too much speculation and reading into things, but if someone doesn't think there is something to read into with her, then their head is in he sand..... and I don't mean to say that something amazing is going on, the move could be to separate things in case of a BK or partial sale, but I have no doubt things are happening behind the scenes and we only know what we know, anything else is guessing, good or bad. I remember Matt saying they were prominent Seattle business people and when doing the due diligence he was surprised at how well funded RLS would be. Now, no ones knows better than Matt what it took to build Danbury let alone get afrezza to market. $6M in bonds to fund operations makes no sense except of course to IAM2. Just from Starbucks last year Kevin Johnson made about $8.5M which is probably walk around money for him. Until someone confirms different from Ms. Carman I am sticking with the Christmas bonus in bonds theory. Now, in the beginning the lab work was being done in Danbury. They even built a secure facility to comply with the DEA schedule 1 requirements. At that point they were working with standards. Their next phase required CBD in volume and they had to build an extraction facility. That was originally going to be in Danbury but then they decided Valencia would be better because of the legalization. Can Andrea do what she needs to do in Danbury, most likely. Next to Al was anyone smarter? She would be across the street from where they held the annual meeting.
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Post by mnkdfann on Jan 7, 2017 18:46:49 GMT -5
Do those buying bonds get any more information about the company, or are they investing $25K minimum based on a 8 1/2 x 11 glossy poster with no additional knowledge of who's behind this? If you're interested in investing I am sure you can find the prospectus for RLS get all the detailed information who they are and what they're intending on doing. As I wrote earlier, the RLS filing ticked off the box for Rule 506(b). www.sec.gov/answers/rule506.htmUnder that rule, it's not clear to me that RLS has to offer any prospectus. It looks like RLS can release the information on a very restricted need to know basis to select investors of its own choosing. But if you are convinced it is straightforward and you know how to find a prospectus for this offering, then I beg you on the board's behalf to do so for us. Your reward will be countless 'likes' on your future post detailing the specifics of the offering.
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Post by agedhippie on Jan 7, 2017 19:46:15 GMT -5
IMO, she may be the most interesting piece to all of this. She's a smart girl, she could work for anyone, anywhere. Yet she agreed to officially leave her long term employer MNKD, and go on the record working for RLS, a spec start up company. If she wants to make real money then going to a start-up and getting paid partly in equity is the way to do it. It's high risk high reward but it certainly makes sense if you can cope with the stress and risk. Been there, done that.
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