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Post by jay1ajay1a on Mar 1, 2017 13:54:52 GMT -5
Jay, Gary said he called MNKD and Mike and Matt would not be at the meeting? Very glad you are there:-) T hink Jay just lost his credibility... Whatever
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Post by mnholdem on Mar 1, 2017 13:56:56 GMT -5
The only person whose credibility is questionable is the receptionist at MannKind who gave out that incorrect information over the phone.
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Post by promann on Mar 1, 2017 13:57:14 GMT -5
Meeting is over I did record it and will try to figure out how to post it. There were 8 shareholders in attendance, both measures passed. There was a open question period after the meeting, Matt would only speak about public information already available. All of the information was the same, but with more color at least for me. Matt and MNKDs legal council (Don't remember his name) were in the conference room with the shareholders and all others were on a conference call. Overall it was what I expected and they feel they have the right plan in play to move the company ahead. Quick notes; Cash until 3 quarter, 2017 Feel current pricing is right The new nurse education program is the way to move ahead Have 70% coverage with no or "light" pre-authorization , (Light means, MD's wont prescribe off label) Stated in the official meeting that reverse spit would be at the discretion of the BOD I did not ask if they were going to file for the 6 month extension as I felt that was covered before. Need to get to a meeting sorry so rushed and any mistakes, I try and updated later. Jay I think the meeting lasted more then 10 minutes maybe more like 45 minutes and questions were made how's about that
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Post by Jstokcton on Mar 1, 2017 14:33:08 GMT -5
When will we know the RS number? 10-1?
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Post by alethea on Mar 1, 2017 14:42:52 GMT -5
When will we know the RS number? 10-1? It had better be 10-1. Anything significantly less and the price will back under $1 in a flash. With the coming dilution it would not a be surprise to see another 30 to 40% decline in stock price.
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Post by silentknight on Mar 1, 2017 14:55:05 GMT -5
When will we know the RS number? 10-1? It had better be 10-1. Anything significantly less and the price will back under $1 in a flash. With the coming dilution it would not a be surprise to see another 30 to 40% decline in stock price. 10-1 R/S puts us at $5.30 as of today. 40% decline from that, if what you say occurs, brings us to $3.18 or the equivalent of .31 today. Without sales, we'll be under $1 again in a matter of months. Nothing like the old one-two punch to shareholders, R/S with immediate dilution. That stings.... I might need to re-open my margin account to go short and make some money back....
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Post by promann on Mar 1, 2017 15:03:33 GMT -5
It had better be 10-1. Anything significantly less and the price will back under $1 in a flash. With the coming dilution it would not a be surprise to see another 30 to 40% decline in stock price. 10-1 R/S puts us at $5.30 as of today. 40% decline from that, if what you say occurs, brings us to $3.18 or the equivalent of .31 today. Without sales, we'll be under $1 again in a matter of months. Nothing like the old one-two punch to shareholders, R/S with immediate dilution. That stings.... I might need to re-open my margin account to go short and make some money back.... Silent Knight You can borrow some more of my shares I'm buying more and more all the time.. I hope you get some more short shares to help with a even bigger stampede to cover.n n LOL go for it..
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Post by silentknight on Mar 1, 2017 15:19:21 GMT -5
10-1 R/S puts us at $5.30 as of today. 40% decline from that, if what you say occurs, brings us to $3.18 or the equivalent of .31 today. Without sales, we'll be under $1 again in a matter of months. Nothing like the old one-two punch to shareholders, R/S with immediate dilution. That stings.... I might need to re-open my margin account to go short and make some money back.... Silent Knight You can borrow some more of my shares I'm buying more and more all the time.. I hope you get some more short shares to help with a even bigger stampede to cover.n n LOL go for it.. I'm not short, but I would consider it to make back some of the six figures MNKD has lost me due to their poor execution. I wouldn't need your shares to do it. Other lenders are out there and there plenty of shares short already. Several million of them to be exact. Those that went short after FDA approval, to where we are now, have made a whopping roughly 1,900% return on their investment if they timed it right and rode it to the bottom. How much have the rest of us made? I'm sitting at $109K in paper losses at the moment. I'm not sure about you or the rest of the folks here. The short covering we all crave one day may happen but it's going to take better execution than we've seen so far to trigger it. Quite frankly, MNKD has done nothing to cause fear in the hearts of shorts. All the whole, those that went short certainly have been laughing all the way to the bank over the last couple of years while the rest of us suffered. I don't hate them. I envy them.
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Post by peppy on Mar 1, 2017 16:04:05 GMT -5
Meeting is over I did record it and will try to figure out how to post it. There were 8 shareholders in attendance, both measures passed. There was a open question period after the meeting, Matt would only speak about public information already available. All of the information was the same, but with more color at least for me. Matt and MNKDs legal council (Don't remember his name) were in the conference room with the shareholders and all others were on a conference call. Overall it was what I expected and they feel they have the right plan in play to move the company ahead. Quick notes; Cash until 3 quarter, 2017 Feel current pricing is right The new nurse education program is the way to move ahead Have 70% coverage with no or "light" pre-authorization , (Light means, MD's wont prescribe off label) Stated in the official meeting that reverse spit would be at the discretion of the BOD I did not ask if they were going to file for the 6 month extension as I felt that was covered before. Need to get to a meeting sorry so rushed and any mistakes, I try and updated later. Jay Thank you Jay for taking time out of your day and going. your update also will be appreciated.
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Post by gamblerjag on Mar 1, 2017 16:10:25 GMT -5
Never thought he lost it!!
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Post by rombic33 on Mar 1, 2017 16:30:58 GMT -5
If you envy them then you are not one of us.
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Post by surplusvalue on Mar 1, 2017 16:43:08 GMT -5
It had better be 10-1. Anything significantly less and the price will back under $1 in a flash. With the coming dilution it would not a be surprise to see another 30 to 40% decline in stock price. 10-1 R/S puts us at $5.30 as of today. 40% decline from that, if what you say occurs, brings us to $3.18 or the equivalent of .31 today. Without sales, we'll be under $1 again in a matter of months. Nothing like the old one-two punch to shareholders, R/S with immediate dilution. That stings.... I might need to re-open my margin account to go short and make some money back.... Both you, Alethea and others think that they will dilute immediately. I was of that opinion when the RS issue was first initiated but not now. If an RS comes and when it comes, I dont think they will dilute right away. The RS will provide enough opportunity to have the SP hammered and hence immediate dilution would be more counterproductive with the risk of bringing the sp, with more hammering, down to the level that the RS was trying to get us out of in the first place.
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Post by dreamboatcruise on Mar 1, 2017 17:32:03 GMT -5
If you envy them then you are not one of us. There do seem to be at least two different kinds of MNKD investors here. As much as I would like for Afrezza to succeed, I have no illusion that the investment I have made (as significant as it is in my retirement account) in any way contributes to the success of MNKD. If I'd been short all this time, likewise my paltry amount in the big scheme of things would not have mattered. To me, however, 6 figures worth of loss will have a big impact on my own life... as would a theoretical 6 figure gain if I'd had the insight to be on the opposite side of the trade. It's hindsight though. As I've stated before, right now I choose to be long rather than neutral or short because I feel that while there is significant risk of making new lows, there is also some chance that a white swan event will send price quickly higher. I certainly don't begrudge those that take actions to protect their own financial welfare. So not sure which "us" that puts me in with. Though I'm fine being an individual rather than an "us".
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Post by agedhippie on Mar 1, 2017 17:54:55 GMT -5
10-1 R/S puts us at $5.30 as of today. 40% decline from that, if what you say occurs, brings us to $3.18 or the equivalent of .31 today. Without sales, we'll be under $1 again in a matter of months. Nothing like the old one-two punch to shareholders, R/S with immediate dilution. That stings.... I might need to re-open my margin account to go short and make some money back.... Both you, Alethea and others think that they will dilute immediately. I was of that opinion when the RS issue was first initiated but not now. If an RS comes and when it comes, I dont think they will dilute right away. The RS will provide enough opportunity to have the SP hammered and hence immediate dilution would be more counterproductive with the risk of bringing the sp, with more hammering, down to the level that the RS was trying to get us out of in the first place. I am curious about how much it will drop. The R/S is a heavily telegraphed move and I am wondering if it is already substantially priced in. If I was them I would do the dilution almost immediately because the price will never be higher until there are serious sales, and those are probably beyond the runway.
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Post by mnkdfann on Mar 1, 2017 18:00:31 GMT -5
10-1 R/S puts us at $5.30 as of today. 40% decline from that, if what you say occurs, brings us to $3.18 or the equivalent of .31 today. Without sales, we'll be under $1 again in a matter of months. Nothing like the old one-two punch to shareholders, R/S with immediate dilution. That stings.... I might need to re-open my margin account to go short and make some money back.... Both you, Alethea and others think that they will dilute immediately. I was of that opinion when the RS issue was first initiated but not now. If an RS comes and when it comes, I dont think they will dilute right away. The RS will provide enough opportunity to have the SP hammered and hence immediate dilution would be more counterproductive with the risk of bringing the sp, with more hammering, down to the level that the RS was trying to get us out of in the first place. They still have about 2 weeks less a day until RS would be required. "We have been provided 180 calendar days by Nasdaq, or until March 13, 2017, to regain compliance with this requirement. Accordingly, our board of directors adopted resolutions, subject to approval by our stockholders, to amend our Amended and Restated Certificate of Incorporation to effect a Reverse Split of our common stock at a ratio in the range of 1-for-3 to 1-for-10, such ratio to be determined in the discretion of our board of directors. These resolutions were approved as a means of increasing the share price of our common stock above $1.00, which is required for continued listing on The NASDAQ Global Market."
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