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Post by lakon on Mar 2, 2017 10:00:32 GMT -5
1:5 - One thing is for sure, MNKD loves to play chicken. 1:10 - My preference of the choices given 1:20 - My preference (rip it off quick) They will not dilute immediately because they have time until the summer. They will take [need] it. The r/s is yet another example that they will take every possible moment available until they have no choice but to take the last unpalatable action. Unless something unexpected happens, they only get another 180 days if they drop below a dollar for too long again. For that reason, I see them dragging it out as long as possible before dilution. If they can execute for a change, maybe, they get MNKD to go from the r/s 2.5/sh to 5/sh before diluting back down to 2.5/sh. That's my guess now that the facts are out about the r/s. (4 months to July plus 40MM sh * $5/sh = $200MM IS about a 2 year window of opportunity, like I said a while ago, they can get to July 4th, 2019.) Enjoy the ride! They were reducing the authorized shares too in order to show some strength and avoid cratering the stock. Unfortunately, perhaps, the BOD felt that they needed more authorized shares remaining...not a good sign... On the other hand, the math was pretty easy either way, and the percentages do not change. Can't wait until we get to 1,000/sh. www.youtube.com/watch?v=aKyKVYRHYn8
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Post by kbrion77 on Mar 2, 2017 10:02:09 GMT -5
I anticipate that next Monday, MannKind will issue a press release announcing the date of the 4Q16 / End of Year earnings call, which will likely be March 13.
What news will Matt have to share? He stated at an earlier conference that he would be providing Afrezza sales guidance at this call. So far, he seems to have misjudged how the market would react on several key fronts, especially what he believed would be welcomed financial news following the impact of Sanofi settlement.
Sales is key. Afrezza sales guidance provided by CEO Matt Pfeffer at the upcoming earnings call MAY lead to demand (institutional, funds, retail) picking up a bit for MNKD stock but I suspect that until Wall Street managers see tangible evidence that Afrezza sales are actually growing, the PPS will continue to experience enormous pressure from short interests.
I've gotta be hard on this sentence as it would continue to show he is fumbling on company direction. On 11/9/2016 when the agreement was announced you could have seriously set up a poll here and asked whether or not this agreement would set the course to increase the share price to $1 and satisfy the 10 day requirement and I guarantee you the overwhelming majority here would have said no.
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Post by Deleted on Mar 2, 2017 10:06:19 GMT -5
1:5 - One thing is for sure, MNKD loves to play chicken. 1:10 - My preference of the choices given 1:20 - My preference (rip it off quick) They will not dilute immediately because they have time until the summer. They will take [need] it. The r/s is yet another example that they will take every possible moment available until they have no choice but to take the last unpalatable action. Unless something unexpected happens, they only get another 180 days if they drop below a dollar for too long again. For that reason, I see them dragging it out as long as possible before dilution. If they can execute for a change, maybe, they get MNKD to go from the r/s 2.5/sh to 5/sh before diluting back down to 2.5/sh. That's my guess now that the facts are out about the r/s. (4 months to July plus 40MM sh * $5/sh = $200MM IS about a 2 year window of opportunity, like I said a while ago, they can get to July 4th, 2019.) Enjoy the ride! They were reducing the authorized shares too in order to show some strength and avoid cratering the stock. Unfortunately, perhaps, the BOD felt that they needed more authorized shares remaining...not a good sign... On the other hand, the math was pretty easy either way, and the percentages do not change. Can't wait until we get to 1,000/sh. 8-) www.youtube.com/watch?v=aKyKVYRHYn8The only way shares get issued at $5/each is if we start to see steady solid growth in NRx and TRx. Without this, shares will be issued at maybe $1.25 if we are lucky. I suspect if the shorts smell any blood, they will unload.
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Post by saxcmann on Mar 2, 2017 10:12:07 GMT -5
I personally think its time to replace Matt! Maybe they will. Mike pretty much runs the show behind the scenes anyway...
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Post by Deleted on Mar 2, 2017 10:16:10 GMT -5
I personally think its time to replace Matt! Maybe they will. Mike pretty much runs the show behind the scenes anyway... Mikes good but not ready to be CEO. If they can come up with a pile of money, they should go after Duane DeSisto again. He was CEO of Insulet from the get go until a year or so ago. He is very bright, aggressive and used to be a CFO as well so he understands the capital markets. MNKD tried to hire Duane but supposedly a non-compete prevented him from joining MNKD and that is how we got Matt as CEO. That non-compete has long since expired.
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Post by Deleted on Mar 2, 2017 10:17:00 GMT -5
I personally think its time to replace Matt! Maybe they will. Mike pretty much runs the show behind the scenes anyway... lets see. the board is inefficient too. All mnkd needs is a investor who has the business acumen like shrekli unfortunately, who can scoop in some majority shares , lock the shares and Replace the management except the commercial org
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Post by kbrion77 on Mar 2, 2017 10:21:13 GMT -5
Maybe they will. Mike pretty much runs the show behind the scenes anyway... lets see. the board is inefficient too. All mnkd needs is a investor who has the business acumen like shrekli unfortunately, who can scoop in some majority shares , lock the shares and Replace the management except the commercial org I'll probably give it another 2 months before I become a strong advocate of either selling Afrezza for $150MM to any pharma on the planet or exactly what you stated above.
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Post by matt on Mar 2, 2017 10:41:03 GMT -5
I also noticed they are able to issue 10,000,000 preferred stocks - is this something new or were there 50,0000,000 preferred stocks before and they were reduced 1:5 too? It's not new. The preferred were not affected by the 1:5 r/s. They cannot issue them without breaching TASE regulations. I'm not sure why they keep them around. Any ideas anyone? There is no reason to not keep the preferred around; it doesn't cost anything. As a practical matter, it is up to the company to decide where its shares are traded and dropping TASE as an participating market is a decision that can be taken at the management or board level. On the other hand, adding or removing categories of securities from the corporate charter requires shareholder approval to amend the articles of incorporation. I think if a new investor came along that demanded preferred shares in exchange for making a significant cash investment in the company, that would outweigh the benefits of a continued market listing in Israel.
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Post by goyocafe on Mar 2, 2017 10:47:59 GMT -5
Do employee stock options reprice to a split adjusted level? I presume so, but just want to confirm. Ex. Stock option strike price was $1.00, the new strike price is $5.00?
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Post by wmdhunt on Mar 2, 2017 11:30:18 GMT -5
Personally, I think a 5:1 spit is perfect. The BOD is doing a good job leaving some "wiggle-room". This is, unfortunately, the best of bad choices, imhop.
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Post by Deleted on Mar 2, 2017 11:34:40 GMT -5
Do employee stock options reprice to a split adjusted level? I presume so, but just want to confirm. Ex. Stock option strike price was $1.00, the new strike price is $5.00? Yes they will be split adjusted . Its not the congress members we are talking here.
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Post by surplusvalue on Mar 2, 2017 11:38:26 GMT -5
Look at my posts regarding the RS, the various alternatives within the proposed split range and the issue of dilution and you'll see why i am not surprised by the 1 for 5 at all. Many were sure it was going to be 1 for 10 and almost immediate dilution. I indicated that I thought that this wasnt necessarilly going to be the case. I was correct. They used the RS for the listing issue and not for setting up dilution conditions. As I stated many times dilution was not to immediately follow if the RS wasnt high enough. Many here think it should have been 1 for 10 because they think MNKD should have been using the RS for dilution and hence expected a 1 for 10. Another example of letting your expectations and desires get in the way of rationally assessing the situation. At the very beginning when the RS issue was first raised I too immediately considered the 1 for 10 and dilution but soon tempered this when it was clear that 1 for 10 was only one possible ratio split among many and that all this depended on what they were using the RS split for. You may be shocked and surprised because of your quick assumptions. I'm not. You can look at my posts where iI explain why using the RS and then dilution would be counterproductive to the listing issue given the large short presence. Whatever you think , 1 for 5 is less onerous on existing shareholders that are heavily underwater. Either MNKD can now actually sell their product in meaningful numbers with a dedicated sales force finally in place or they cant. No more excuses. They cant come back again and say it was another trial run like they did after launch 2.0. As well they have the room now to bring other developments to the table. The listing issue was the most immediate hurdle to this and that's what they focused on. Would be nice to see that they also have something to help support the RS to help limit any downward pressure on the SP, but I'm not holding my breath. Don't let all this lead you to think that I'm happy they had had to do the RS in the first place, I'm most decidedly not. You can get a sense of my view here mnkd.proboards.com/thread/7357/march-1-2017-special-stockholders?page=6
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Post by mnkdfann on Mar 2, 2017 12:03:14 GMT -5
Look at my posts regarding the RS, the various alternatives within the proposed split range and the issue of dilution and you'll see why i am not surprised by the 1 for 5 at all. Many were sure it was going to be 1 for 10 and almost immediate dilution. I indicated that I thought that this wasnt necessarilly going to be the case. I was correct. They used the RS for the listing issue and not for setting up dilution conditions. Don't count your chickens before they hatch etc. They still have to DO the RS. And then they STILL have to have 10 trading days above $1 to avoid delisting (should be trivial to achieve after the RS, but they still have to do it). Only then would they be expected to talk about dilution.
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Post by derek2 on Mar 2, 2017 12:05:51 GMT -5
Look at my posts regarding the RS, the various alternatives within the proposed split range and the issue of dilution and you'll see why i am not surprised by the 1 for 5 at all. Many were sure it was going to be 1 for 10 and almost immediate dilution. I indicated that I thought that this wasnt necessarilly going to be the case. I was correct. They used the RS for the listing issue and not for setting up dilution conditions. As I stated many times dilution was not to immediately follow if the RS wasnt high enough. Many here think it should have been 1 for 10 because they think MNKD should have been using the RS for dilution and hence expected a 1 for 10. Another example of letting your expectations and desires get in the way of rationally assessing the situation. At the very beginning when the RS issue was first raised I too immediately considered the 1 for 10 and dilution but soon tempered this when it was clear that 1 for 10 was only one possible ratio split among many and that all this depended on what they were using the RS split for. You may be shocked and surprised because of your quick assumptions. I'm not. You can look at my posts where iI explain why using the RS and then dilution would be counterproductive to the listing issue given the large short presence. Whatever you think , 1 for 5 is less onerous on existing shareholders that are heavily underwater. Either MNKD can now actually sell their product in meaningful numbers with a dedicated sales force finally in place or they cant. No more excuses. They cant come back again and say it was another trial run like they did after launch 2.0. As well they have the room now to bring other developments to the table. The listing issue was the most immediate hurdle to this and that's what they focused on. Would be nice to see that they also have something to help support the RS to help limit any downward pressure on the SP, but I'm not holding my breath. I was certainly surprised. I was among those who expected 1:10 and dilution. Correct on R/S. Correct on no extension (actually, even that is up in the air if SP dips below $1.00 in the next 2 weeks - I doubt that will happen but who knows?). Wrong on R/S ratio. TBD on dilution.
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Post by peppy on Mar 2, 2017 12:08:41 GMT -5
there are still a heck of a lot of shorts around here. I hope you are wrong about a lot of things in the moment.
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