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Post by madog365 on May 16, 2017 20:32:47 GMT -5
Ok, I was just on a 30 min call with them. My shareholder friend called to find out what was up. They want our shares. They want to manage our money. They believe in MNKD and would love to see them do well. He will be at the shareholder meeting and has met with Matt. All for a commission:-). ....and keeping us up to date on any new info on MNKD. They will also tell us when to buy more and when to sell if need be. And recommend other stocks. They would have a personal relationship with you. They would do all the buying and selling. You would be hiring a broker. Just talking their own book. And they have already seen all of us bashing them. Or I should say me:-) So not a scam, not a rights offering, just trying to drum up business IMO But why Aegis? Why MNKD? Who took the initiative -- Aegis call MNKD or vice-versa? Why the MNKD tour for Aegis? Why only a couple of days before the shareholder meeting? Has MNKD tweeted or messaged anything publicly to confirm any relationship with Aegis? The timing of the card send before the ASM is very suspect to me... almost like they meant for it to create crazy rumors of acquisitions and cause a fake news run up. I really dont understand what mannkind management is thinking, did they not realize that this cannot possibly benefit them or shareholders in any positive way? i am starting to believe they really are this out of touch as many have pointed out. EDIT for AEGIS who are reading this thread: WE DO NOT WANT YOU TO CONTROL OUR SHARES, WE HAVE BEEN SCREWED ONE TOO MANY TIMES BY THE LIKES OF YOU. BUY YOUR OWN SHARES, YOU CAN AFFORD IT. |
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Post by sportsrancho on May 16, 2017 20:32:55 GMT -5
My thought is that Aegis wants to loan out your shares. My first thought also. That too, you can bet on it! |
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Post by seanismorris on May 16, 2017 20:36:35 GMT -5
How much did it cost for them to get a list of MannKind investors? That in itself (in my mind) is quasi illegal...
So they want our business? And, they say they'll buy and sell shares for us based on insider information?
Sorry we have have enough institutions shorting MNKD, no need to give them more ammo...
It may not technically be a scam... but it's a scam.
It they want to have me believe it's not a scam, they should spell out exactly their plans on their website. Including a copy of contract between themselves and shareholders that put faith in them. A callback with information deniability doesn't cut it.
Until MannKind comments we're wasting our time discussing it...
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Post by brotherm1 on May 16, 2017 20:45:49 GMT -5
I just voted 28,000 votes. No to everything on the ballot . Keep Mike. Need new directors and CEO
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Post by timri on May 16, 2017 21:03:32 GMT -5
That too, you can bet on it! Did he mention a rights offering to you? He brought it up several times with me. Not that it was a done deal but the possibility. |
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Post by indigodaisy on May 16, 2017 21:03:41 GMT -5
I thought you all were crazy, but I just got my cards today. Not sure I like my info being shared if it is not directly from Mannkind.
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Post by ptass on May 16, 2017 21:06:07 GMT -5
This is really concerning to me. Based Rose's response that was posted earlier on this thread,it sounds like mnkd would like to raise money through an offering to existing shareholders and wants aegis to facilitate that. The concerning part is this seems like an act of desperation. I was holding out hope for this UAE idea but now I'm depressed. I sincerely hope im wrong about this.
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Post by dreamboatcruise on May 16, 2017 21:21:01 GMT -5
This is really concerning to me. Based Rose's response that was posted earlier on this thread,it sounds like mnkd would like to raise money through an offering to existing shareholders and wants aegis to facilitate that. The concerning part is this seems like an act of desperation. I was holding out hope for this UAE idea but now I'm depressed. I sincerely hope im wrong about this. If you actually buy into all the wishful thinking pumping that goes on, you're bound to be disappointed more often than not. I don't really view a rights offering, if that is what this is about, as desperate, if they have the Mann entities on board. Seems like it would be doomed for failure if they don't have the Mann entities on board. |
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Post by oldfishtowner on May 16, 2017 21:24:23 GMT -5
Part two: There are a lot of people like my friend from back east that got a card today. He only owns a few shares. They are trying to pick of people that really don't know much about what's going on with MNKD and keep them informed. And handle their money. Most of the people they have talked to don't even know who SNY is! They go to the shareholder meeting of all their holdings. I handle my own money. I've been down that road before:-) And we have Nate who has a relationship with Matt also and keeps us up to date and offers his in up. Don't most if not all of us here handle our own money. Else why would we be here? And for the same reasons. Per jersey's post quoting IR, Aegis approached MNKD with the proposal. Whoever at MNKD gave Aegis the go ahead on this used poor judgement. Anyone who reads this thread and has any experience would not trust Aegis with 10 cents. The company can't be trusted if they were not even truthful with MNKD about what they were really up to with their proposal. Has Aegis told anyone anything about MNKD that we did not already know? How are they keeping us up to date with developments at MNKD, as IR said Aegis proposed to do? Those who are going to the meeting should let management know loud and clear that we stockholders don't appreciate the disservice to us as well as to our investment, i.e., MNKD, that the arrangement with Aegis represents. I hope that the yellow cards were not planned to divert attention from other matters and take up all the discussion time at the meeting. Be sure to get around to asking the hard questions that several on this board proposed to ask at the meeting. |
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Post by sportsrancho on May 16, 2017 21:28:19 GMT -5
That too, you can bet on it! Did he mention a rights offering to you? He brought it up several times with me. Not that it was a done deal but the possibility. He was talking me my friend and talked about it. But not really the way people are talking about it on here. It would only be for his shareholders. I'll check with my friend again. He'll remember more. But I didn't get the impression it was the main focus. Just a selling point maybe.. |
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Post by ptass on May 16, 2017 21:30:20 GMT -5
Makes sense since how much could they really raise with just us. I still don't like the way this was done; feels sort of like the outfit depicted in the movie Boiler Room.
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Post by zoller35 on May 16, 2017 21:39:50 GMT -5
Did he mention a rights offering to you? He brought it up several times with me. Not that it was a done deal but the possibility. He was talking me my friend and talked about it. But not really the way people are talking about it on here. It would only be for his shareholders. I'll check with my friend again. He'll remember more. But I didn't get the impression it was the main focus. Just a selling point maybe.. No offense, but are you delusional? A special rights offering JUST for HIS shareholders??? That's not possible or legal. And as a selling point? Good grief. If MNKD authorized this they cluster they don't deserve any more money. |
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Post by sportsrancho on May 16, 2017 21:55:31 GMT -5
He was talking me my friend and talked about it. But not really the way people are talking about it on here. It would only be for his shareholders. I'll check with my friend again. He'll remember more. But I didn't get the impression it was the main focus. Just a selling point maybe.. No offense, but are you delusional? A special rights offering JUST for HIS shareholders??? That's not possible or legal. And as a selling point? Good grief. If MNKD authorized this they cluster they don't deserve any more money. He talked to them twice. The second time I listened in. I didn't hear him call it a rights offering. He did say on the first call that they did not send the cards out that MNKD did. I do not think that we are their target audience. They are looking to increase their business and are managing money. |
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Post by mnholdem on May 16, 2017 21:56:30 GMT -5
I felt compelled to create a username and comment due to the rampant misinformation/speculation in this thread. I called Aegis and received their voicemail, Afterwards i emailed IR asking if the Aegis mailer was spam or something that should be taken more seriously. This is the response from Mannkind IR: "As for the mailing, given our limited resources, Aegis Capital, a firm who has followed MNKD for many years, proposed this FINRA approved shareholder communications program which represented a cost effective way to proactively communicate with our shareholders to provide corporate updates. Aegis did not charge MNKD any fee for this service nor do they receive any compensation whatsoever from MNKD related to their efforts on the Company's behalf. The firm provides corporate solutions, among other services, and this communication program was intended to demonstrate their full suite of capabilities related to client services which could include future financing, risk management services, employee benefit plans, etc.. Given our stock price and diminished market cap, despite commercial progress (albeit currently underwhelming), we viewed this program as a positive, very low cost outreach to our many stockholders. We often address the disgruntled who contact the Company and can only hope that our other stockholders are reading our press releases or listening to our periodic updates. Aegis was only deployed after an extensive in-person teach-in at our Danbury facility a couple of weeks ago, after which the Aegis team was equipped to provide our stockholders with a corporate update and to walk them through the opportunity we believe continues to exist at MNKD." We have no way to know if this response is legitimate. Even if it isn't it reflects a classic corporate viewpoint about shareholders that I believe reflects founder Alfred E. Mann and the business philosophy that most of the corporate world embraced for 60 years. Several years ago I wrote a post I entitled, "The Myth of Shareholder Rights", although I'm not entirely certain that I ever posted it on ProBoards. In a nutshell, the corporate business philosophy emphasizes five activities that are most important to a company like MannKind. In order of greatest importance, they are:
- Patients: your primary focus is on patients and their needs;
- Employees: development of a world-class workplace and skilled workforce, with opportunities for advancement and recognition of achievements;
- R&D: a company that does not invest in the future doesn't have one (incidentally, companies that re-investing capital into R&D instead of stock dividends anger some shareholders, who believe it is their "right" to receive a financial share when the company is successful);
- Community: for a company like MannKind, involvement in the diabetes community, including funding programs that raise awareness and assist those in need, raises awareness of your company and demonstrates your commitment;
- Shareholders: do the first four activities well and it's likely that your shareholders will also benefit.
Al Mann made his bones in a business world that embraced this philosophy and I hope management continues to prioritize in similar fashion. What is problematic about this traditional business philosophy is that the world has changed a great deal in 60 years. Television and internet have replaced the newspaper business section and business magazines. Shareholders today have become accustomed to getting so much information which can be accessed immediately, that it frustrates them when they cannot readily obtain information about what activity and planning is going on inside a company.
After Sanofi ended it's Collaboration and License Agreement with MannKind, and CEO Matt Pfeffer took over the helm, he started out by addressing shareholders with a presentation of MannKind's future plans. He entitled it "MannKind 2.0" and it was, for the most part, positively received by shareholders. BTW, securing cash for the company through international sales of Afrezza was the second item of his plan. Shareholders were introduced to the MannKind pipeline and were excited about the possibilities and potential for the future.
Since then, it has been a lot of hard work, inside and outside, for management to carry out the plan. We can only speculate why those early international partnerships did not materialize, but they didn't and MannKind had to raise cash through a dilutive stock offering. Perhaps partners needed to be convinced that Afrezza/Technosphere was marketable. I don't know why, but I do know this: the effectiveness of Afrezza/Technosphere is much better known today that it was when Sanofi was handling the commercialization.
Pfeffer has, in my opinion, hired a competent, seasoned management team that bodes well for its future and the potential for shareholders to be handsomely rewarded is there. Constantly communicating with shareholders and worrying about what they think was not as important to founder Al Mann as was bringing a medical need to patients and developing a pipeline of Technosphere drugs to address those needs. He focused on the patient, his employees, funding development (to the tune of over $1 billion of his own money) and he was an active philanthropist involved in and funding various medical innovations and institutions. His time for shareholders was at the annual shareholders meeting and he loved shaking hands with them and expressing his confidence in the future of MannKind and Afrezza.
Not much has changed in terms of the company's desires to keep its priorities in order AND not much is changing in shareholders' desire to get instant information. The two desires are inherently at odds.
As a business leader myself, if I were to attend the Annual Shareholders Meeting and get a chance to chat with CEO Pfeffer, I may suggest that he hire a seasoned IR executive who recognizes that his/her job is not to simply answer shareholders' questions when they write, email or call. IMO, Matt did well in hiring the CMO and CCO to become part of the leadership team, not to mention the executives that were hired to support these company Officers. In my opinion, MannKind would benefit immensely by hiring a seasoned Investor Relations Officer, preferably one with a medical background, to engage BOTH the diabetes treatment community and the investment venues the likes of CNBC, Bloomberg's, Barrons, The Wall Street Journal and similar investor outlets, to build up the image of MannKind Corporation as a cutting-edge company with revolutionary innovations that will change medical treatment in a variety of areas.
By continually engaging and informing the investment communities about the latest developments happening at MannKind, an IRO would also be keeping shareholders informed as well. I think that this is a much better business strategy for MannKind than the idea of contracting IR activities to an entity like Aegis Capital.
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Post by akemp3000 on May 16, 2017 22:02:10 GMT -5
Suggestion...grill any representative from Aegis about the CRL, Martin Shkreli, 27-1 Advisory Counsel vote, Duane DeSisto, TASE, the PK/PD profile, differentiation of titration, etc., then based on their response, ask them to explain why they're personally qualified to be making decisions about your MNKD stock.
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