|
Post by bthomas55ep on Jun 4, 2017 18:54:41 GMT -5
Hopefully, there is some other logical explanation for Matt's departure than what I am about to suggest. Remembering the faithful ongoing devotion of CFO Greg Shiffman to Dendreon's cause, it was quite a shock to shareholders when he left company in August of 2013. Was it that he opposed the companies plan to package itself for bankruptcy in November of 2013 where an asset auction sometime thereafter ensued? Looking back, Shiffman's departure, which is the exact opposite of what shareholders always heard him say turned out to be an important signal of impending shareholder disaster.
My better judgement tells me to use Matt's departure as a red herring for what may come. Matt gets out, has some of these later issued low-priced options vest(by the board) as he leaves, sells all his shares privately on the open market, and then doesn't have to be part of the company when it performs its restructure and finishes ruining all the current shareholders......
The Board and Mike don't mind as they control the options printing machine in the NEWCO. Deerfield doesn't mind as they've already more than covered all their debt. Of course, in the bankruptcy reorg plan, they get a major part of Newco anyway. While all the existing shareholders are left out of the equation (with whom Matt doesn't have to face), the company, through the Chapter 11 process adequately extends the runway to ultimately give it and Afrezza the time and chance it needs to see if it can prove success in Mannkind 3.0.
Gosh, I haven't sold any shares yet, but this news regarding Matt deeply disturbs me and I've now got my finger on the switch. Everybody has their own impression of Matt's departure so I thought I'd share my thoughts. This board has been immensely helpful to all and I only hope this group of shareholders is able to see this to a positive end. I do think Afrezza will ultimately survive, just not as confident it will be with this group of loyal shareholders anymore.
|
|
|
Post by peppy on Jun 4, 2017 19:04:49 GMT -5
The CEO job is to tell share holders the truth. What you are suggesting, is a fraud on shareholders in a sense? The plan is sell the drug and start the studies. What has been suggested in the post, is management lying to shareholders?
|
|
|
Post by peppy on Jun 4, 2017 19:07:55 GMT -5
|
|
|
Post by bthomas55ep on Jun 4, 2017 19:12:42 GMT -5
The CEO job is to tell share holders the truth.
What you are suggesting, is a fraud on shareholders in a sense?
I don't think this is what I am saying. I think when they (MATT) presented to shareholders, they fully intended to "try" to execute on all these plans. If the Afrezza uptake just doesn't go as fast as they planned and hoped, then they must pursue Plan B to ensure the drug / company survives. As initially evidenced by the Shareholder meeting and now the action to leave the company, Matt will no longer "say" anything to shareholders.
Like I said.... I hope I am wrong about the tea leaves, however, I just can't say that Mannkind's biggest lifelong advocate leaving the company is not cause for concern (about whatever the discord was)....
|
|
|
Post by rockstarrick on Jun 4, 2017 19:13:47 GMT -5
Hopefully, there is some other logical explanation for Matt's departure than what I am about to suggest. Remembering the faithful ongoing devotion of CFO Greg Shiffman to Dendreon's cause, it was quite a shock to shareholders when he left company in August of 2013. Was it that he opposed the companies plan to package itself for bankruptcy in November of 2013 where an asset auction sometime thereafter ensued? Looking back, Shiffman's departure, which is the exact opposite of what shareholders always heard him say turned out to be an important signal of impending shareholder disaster. My better judgement tells me to use Matt's departure as a red herring for what may come. Matt gets out, has some of these later issued low-priced options vest(by the board) as he leaves, sells all his shares privately on the open market, and then doesn't have to be part of the company when it performs its restructure and finishes ruining all the current shareholders...... The Board and Mike don't mind as they control the options printing machine in the NEWCO. Deerfield doesn't mind as they've already more than covered all their debt. Of course, in the bankruptcy reorg plan, they get a major part of Newco anyway. While all the existing shareholders are left out of the equation (with whom Matt doesn't have to face), the company, through the Chapter 11 process adequately extends the runway to ultimately give it and Afrezza the time and chance it needs to see if it can prove success in Mannkind 3.0. Gosh, I haven't sold any shares yet, but this news regarding Matt deeply disturbs me and I've now got my finger on the switch. Everybody has their own impression of Matt's departure so I thought I'd share my thoughts. This board has been immensely helpful to all and I only hope this group of shareholders is able to see this to a positive end. I do think Afrezza will ultimately survive, just not as confident it will be with this group of loyal shareholders anymore. With Al Mann, Foundation or whatever you decide to call it, being our largest common shareholder, I find it hard to even remotely consider your plot. The shares owned by Al are the exact same shares held by anyone with as little as 1 share. ZZZZzzzzzz 😑
|
|
|
Post by sayhey24 on Jun 4, 2017 19:25:46 GMT -5
The last I checked the biggest looser in your scenario would be the Mann Foundation and the Mann Estate. Why would they want a bankruptcy when they have the controlling votes in the company and months to raise money? Of course thats assuming they have ZERO deals about to happen. DNDN's market was microscopic. Afrezza's market is huge and only afrezza can do what a healthy pancreas can do.
Matt mentioned at the ASM he was having recurring issues with his detached retina's. How much his health played into his ability to travel and do the US based deals let alone the international deals you would need to ask Matt.
At the same time Mike has been doing all the deals and has reshaped how MNKD is now approaching the market. Mike has a lot of energy and from my discussions with him he seemed 100% dedicated to making MNKD a super success. As long as Mike has enough money to keep the lights on, the rest of the market will catch up to where they understand the value of afrezza as people start seeing real time how food effects their sugar levels. It will take about 2 years.
Monitoring is fine but people are going to want to take action. When they find out metformin does nothing at meal time nor the rest of the T2 meds including that the basal insulin they will start looking for an answer and there is only one, afrezza. Nothing else does what afrezza can do except a healthy pancreas. Its a matter of time.
|
|
|
Post by akemp3000 on Jun 4, 2017 19:54:00 GMT -5
Amen seyhey! We're on the cusp of endos, diabetics and the world learning that A1c numbers are outdated and almost meaningless when compared to real time BG monitoring. As this unfolds, Afrezza stands alone as the only prandial insulin that mimics a healthy pancreas. Al knew this. Matt knew this. Mike knows this and has now been chosen by the board as the one to monetize this. With all that has recently been announced as forthcoming, i.e. TV ads, reality show, One Drop, Brazil and more, it's absurd to be thinking BK or doomsday scenarios. Granted we haven't yet been told why there's been little concern from management about the short runway but something is obviously happening behind the scenes for management to make the announcements they have. GLTA.
|
|
|
Post by mytakeonit on Jun 4, 2017 20:56:56 GMT -5
Earlier this morning I was going to post if anyone noticed how few short fudsters we have now ... since share price has gone up with the new announcements. I'm glad that I didn't ... or you all would have blamed me for that idiot poster.
|
|
|
Post by kuka on Jun 4, 2017 21:04:07 GMT -5
the Mann foundation sold its stake in EYES and bought about 5 million more shares of MNKD .... I think they got some information that we dont have
|
|
|
Post by pengiep on Jun 4, 2017 21:19:48 GMT -5
Thanks for reminding us of this. I'm coming off the ledge after the previous debbie-downers in this thread.
|
|
|
Post by peppy on Jun 4, 2017 21:30:26 GMT -5
Earlier this morning I was going to post if anyone noticed how few short fudsters we have now ... since share price has gone up with the new announcements. I'm glad that I didn't ... or you all would have blamed me for that idiot poster. Yes, I have noticed. Some shorts on tweeter, seem to have reversed their position and are typing in the positive for up targets. Case in point: benyiju $MNKD Hospitals in #UAE now include information about #Afrezza inhaled #insulin in their coverage of #diabetes! #InternationalExpansion
|
|
|
Post by harryx1 on Jun 4, 2017 21:39:14 GMT -5
Matthew Pfeffer closing remarks from the 8/8/16 2Q CC.
"First, thanks again for joining us today. I have to say my last meeting with Al Mann before his unfortunate passing earlier in the year, I promised him we would turn things around Afrezza and I just want to repeat again that I have every intention of keeping that promise. I think he’d be very pleased with the progress we’ve made so far and I’m looking forward to demonstrating continued progress in the months to come both to him and to you."
I find it odd that Matt would just step aside without a fight if he truly meant what he said. So I'm guessing that he and Claude Mann must be good with whatever is happening behind the scenes. JMHO!
|
|
|
Post by mnkdfann on Jun 4, 2017 21:46:18 GMT -5
I find it odd that Matt would just step aside without a fight if he truly meant what he said. So I'm guessing that he and Claude Mann must be good with whatever is happening behind the scenes. JMHO! He may well have fought it, just not publicly.
|
|
|
Post by peppy on Jun 4, 2017 21:56:26 GMT -5
What is strange about the Matt situation is Matt P got a parachute? I am having trouble finding the document,to copy and paste the wording. 2 years to stay on and get paid parachute, wasn't it?
|
|
|
Post by mnkdfann on Jun 4, 2017 22:05:18 GMT -5
|
|