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Getting Close to Revised Financials release date. Mid December is here. When it happens, the conference call will be extremely interesting and well attended.
I am liking the resolution. New management should be able to get share price back to double digits in 2020 fairly easily I guess. Their products and new product development were looking great before the B's. No reason to believe they aren't ready to roll now
Still not bankrupt.
SEC Charges Biotech Company and Executives With Accounting Fraud
https://www.sec.gov/news/press-release/2019-243
Washington D.C., Nov. 26, 2019 —
The Securities and Exchange Commission today charged Georgia-based biotech company MiMedx Group Inc. and three former top executives with defrauding investors by misstating the company’s revenue and attempting to cover up their misconduct. MiMedx has agreed to a settlement to resolve the claims.
The SEC alleges that from 2013 to 2017, MiMedx prematurely recognized revenue from sales to MiMedx’s distributors and exaggerated MiMedx’s revenue growth. According to the SEC’s complaint, MiMedx improperly recognized revenue because its former CEO Parker H. “Pete” Petit and former COO William C. Taylor entered into undisclosed side arrangements with five distributors. These side arrangements allowed distributors to return product to MiMedx or conditioned distributors’ payment obligations on sales to end users. Petit, Taylor, and former CFO Michael J. Senken allegedly covered up their scheme for years, even after MiMedx’s former controller raised concerns about MiMedx’s accounting for specific distributor transactions. The SEC also alleges that Petit, Taylor, and Senken all misled MiMedx’s outside auditors, members of MiMedx’s Audit Committee, and outside lawyers who inquired about these transactions.
“As alleged in our complaint, MiMedx’s former executives misled investors about the growth of MiMedx’s revenues and then repeatedly concealed their fraud,” said Kurt Gottschall, Director of the SEC’s Denver Regional Office. “This action reflects our commitment to holding issuers and their senior officers accountable for failing to provide accurate financial statements to the investing public, while the settlement with MiMedx gives appropriate credit for the company’s later remediation and cooperation.”
The SEC’s complaint, filed today in the Southern District of New York, charges all defendants with violating the antifraud, reporting, books and records, and internal control provisions of the federal securities laws. The SEC also charged Petit, Taylor, and Senken with lying to MiMedx’s outside auditors. Without admitting or denying the allegations, MiMedx has agreed to a settlement and to pay a $1.5 million penalty. The settlement is subject to court approval. The complaint seeks permanent injunctions, disgorgement plus interest, penalties, and officer-and-director bars against Petit, Taylor and Senken, and clawback of bonuses and other incentive-related compensation paid to Petit and Senken during the alleged fraud.
The SEC’s investigation was conducted by Kevin Comeau, Ty Cottrill, and Anne Romero with assistance from Judy Bizu of the Denver office. The case was supervised by Laura Metcalfe. The litigation will be led by Steve McKenna and Mark Williams and supervised by Gregory Kasper. The SEC appreciates the cooperation of the U.S. Attorney’s Office for the Southern District of New York.
SEC Complaint:
https://www.sec.gov/litigation/complaints/2019/comp-pr2019-243.pdf
Next report in December will be interesting, after that return to Nasdaq, end of 2020 pps $25
Buy and hold!
10 Reasons To Buy MiMedx Stock Today $MDXG
https://seekingalpha.com/article/4305729
From web site under careers ... Current Openings (50)
They are either expecting a business increase or no one wants to work for them.
Let’s hope so! I’m still adding and holding!
$10 target end of this year
Maybe you meant this summer.... bankrupt yet?
* * $MDXG Video Chart 06-03-2019 * *
Link to Video - click here to watch the technical chart video
Proxy Materials and. Letter to shareholders
https://www.prnewswire.com/news-releases/mimedx-files-definitive-proxy-materials-and-mails-letter-to-shareholders-300860566.html
First pps target $8 within months
* * $MDXG Video Chart 05-30-2019 * *
Link to Video - click here to watch the technical chart video
BEFORE ANY SHAREHOLDERS CAST THEIR VOTES FOR BOARD MEMBERS THEY SHOULD READ THE JUST RELEASED 8K.
Does anyone at mdxg know 1. how many employees were terminated 2. how many are employed 3. how are the sales going 4. when is the audit going to be completed 5. cost of these audits 6. how involved was management in product price fixing, asking all these questions because we are getting little to nothing in press releases. Holding 9,000 shares and staying long. Thank you.
AIMOO: All Out. Just (edit: finished selling) My 70K Shares.
Too Risky. Fear Bad News Coming. From Being In @ $2.5 I'm Happy, Even If It Goes To 10 Dollar Land.
* * $MDXG Video Chart 01-22-2019 * *
Link to Video - click here to watch the technical chart video
MDXG 3 Buy Recommendations: BUY, Accumulation, and #2 Buy Rating.
https://research.ameritrade.com/grid/wwws/research/reports/viewreport?id=2942&documenttag=MDXG&c_name=invest_VENDOR
and
https://research.ameritrade.com/grid/wwws/research/reports/viewreport?id=130&documenttag=MDXG&c_name=invest_VENDOR
and
https://research.ameritrade.com/grid/wwws/research/reports/viewreport?id=1038&documenttag=Company_3330098_MDXGPK_7868438&c_name=invest_VENDOR
All can also be found on Ameritrade Website as well
MDXG
MDXG Buy & Accumulate Ratings. Ford Equity Research Jan 31 2018 ( #2 BUY ) , Research team Jan 1 2019 ( Accumulate ), Constructs Jan 1 2019 ( BUY )
If you have Ameritrade account you can view reports with these links
https://research.ameritrade.com/grid/wwws/research/reports/viewreport?id=2942&documenttag=MDXG&c_name=invest_VENDOR
https://research.ameritrade.com/grid/wwws/research/reports/viewreport?id=1038&documenttag=Company_3330098_MDXGPK_7868438&c_name=invest_VENDOR
https://research.ameritrade.com/grid/wwws/research/reports/viewreport?id=130&documenttag=MDXG&c_name=invest_VENDOR
If no Ameritrade account, try your own broker or analyst website.
MDXG
MDXG Up 20% Monday, LG pop in Vol & Price last 15 mins. Upside GAPS Should fill at least the first of 3 Gaps
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145814138
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145806262
GAP Fill = about 65% Gain from Mondays Close
I might give it a few days try....
MDXG
Anyone know Y MDXG SHOT UP N Final 10 Mins. of trade.
Final 10 mins:
Large Volume, Many Lg. Block Buys. About 10% Stock price Rise in that 10%
Just what a person wants, Huge Volume, Lg.Price Rise.. BUY WHY??
Is there some NEWS/PR expected soon?
Quick look at chart I see two overhead Gaps that should Fill. If they do Fill, Large Gains.
If so, 1st gap would almost double current price ( 100% Gain ). Next Gap Fill would be about 250% Gain.
Thanks
MDXG
I see this thing taking a run to 1.59 today. and im out
awesome clip. Dan looked great then. I met him a few years later- Jamie Lee Curtis looked great - Never met her LOL. Akroyd was a regular at a bar I went to a bit
MDXG looking good after that bloodbath of bad news in and out 1.05 to 1.29 but felt I should hold as chart looked good. BUT felt more bad news would kill it. Shooda just stuck with my gut - well over 1.40 and holding. any good news fixing or addressing this mess it goes to $2
How’s this investment holding up? Lol
* * $MDXG Video Chart 12-06-18 * *
Link to Video - click here to watch the technical chart video
feeling good about a bigger bounce seeing a 700k share trade there under the bid at 1.16 BUT any type of big holder bailing out will of course kill this rally - I could see 1.49 today - olde bounce theories often had a 50% bounce of the total decline but that would be more like $2. That seems a bit optimistic even though it $6 a few weeks ago
news is bad CEO CFO AND COO all punted "for cause" but b/s not that bad - its teetering at a buck on 13.5 Million in volume. good luck - should bounce - as I type with 3 fingers as the rest have been severed on catching falling knives LOL
Got a starter at 1.00
ugly day here I just started a bounce position new is bad all around in at 1.13 stop loss limit sell in at .94
stop buy limit in at 1.29
what happened here?
* * $MDXG Video Chart 11-19-18 * *
Link to Video - click here to watch the technical chart video
Yep...and mdxg has been delisted from nasdaq and won’t provide fins. Bravo
MDXG delisted from the Nasdaq to the OTC:
http://otce.finra.org/DLAdditions
* * $MDXG Video Chart 11-07-18 * *
Link to Video - click here to watch the technical chart video
Summers over
Heading to 0 soon
* * $MDXG Video Chart 08-29-18 * *
Link to Video - click here to watch the technical chart video
MDXG NEWS: " MiMedx Announces Publication Of Phase 2B Clinical Trial Efficacy Data For Micronized dHACM In The Treatment Of Plantar Fasciitis In Foot & Ankle International "
https://finance.yahoo.com/news/mimedx-announces-publication-phase-2b-123000812.html
MDXG Knock Knock, Anyone home? 8 days ago sp was $3.19 range.
Started the week about $ 3.60.
Reached a High of $5.10. Thursday
5 out of last 7 trading days were Higher Highs and Higher Lows
The 2 Days that were not Higher High's and Lows, Both times FRIDAY
See a connection?
Almost all Markets down Friday as was all the Bio indexs. Friday being end of the week after 14% or so Gains Thursday.....Wonder if there was s good deal of Profit Taking Friday??
Buying Opportunity here??
* * $MDXG Video Chart 07-26-18 * *
Link to Video - click here to watch the technical chart video
not $3.25--$4.25
* * $MDXG Video Chart 07-25-18 * *
Link to Video - click here to watch the technical chart video
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MiMedx® has built a management team with highly experienced healthcare executives with track records of leading large healthcare organizations in generating growth, producing profitability, and increasing shareholder value. Our management team draws on guidance from an insightful board of directors and medical advisory board. Collectively, they are committed to achieving success, accomplishing our corporate goals and growing the company. The management team at MiMedx® includes:
Mr. Wright was appointed Chief Executive Officer effective May 13, 2019. Previously, Mr. Wright served as a Partner at Signal Hill Advisors, LLC, a consulting practice, since February 2011.
Mr. Borkowski, was appointed Interim Chief Financial Officer on June 6, 2018. He previously served as Executive Vice President of MiMedx since April 19, 2018.
Mr. Graves joined MiMedx in July 2018 and brings more than 20 years of pharmaceutical and biotech industry experience to the Company, ranging from compliance and sales management to government affairs.
Mr. Hulse joined MiMedx in December 2019, and brings to MiMedx more than twenty years’ experience in large law firms and life sciences organizations, with significant legal, risk management, compliance and operational expertise.
Dr. Mason was named the Company’s Chief Medical Officer in December 2018. He joined MiMedx in June 2014, in the position of Vice President of Medical Affairs for Clinical Programs. Dr. Mason is a Board Certified Internist, board eligible in Rheumatology and Infectious Diseases, whose experience includes a 27-year pharmaceutical and medical device industry career, with increasing levels of responsibility.
Dr. Koob is the Chief Scientific Officer of MiMedx. He is the senior executive responsible for the overall research direction and oversight of the Company’s product and tissue offerings.
Mr. Harris was named Senior Vice President, Marketing and Business Development in December 2018. He joined MiMedx as Senior Vice President, International in June 2018, bringing to the Company 20+ years of experience in the regenerative medicine, medical device and cell therapy fields. In this role, Mr. Harris is responsible for corporate and product marketing, partnerships and joint ventures, as well as international sales and operations.
Scott Turner, has served as Senior Vice President, Operations and Procurement since April 2017. Mr. Turner oversees supply chain from donor recovery services through distribution as well as procurement, engineering, and facilities.
Dr. Brown joined SpineMedica LLC, an early-stage predecessor company to MiMedx, in 2005. She initially served as the Director of Project Management and Senior Engineer for SpineMedica, and later served as its Director of Research and Development and as Vice President of Operations.
Mr. Burrows joined MiMedx Group in April 2011 as Vice President of Wound Care to lead the marketing of the Company’s wound care offerings and other exciting products and tissues. He assumed the role Of Vice President of Global Marketing in August 2011 to focus on expanding the Company’s presence in the regenerative tissue market.
Mr. Spencer is the co-founder of Surgical Biologics, a leading processor of amnion tissue for use in a variety of surgical implants. Since the founding of Surgical Biologics in 2006, he led the development of the proprietary PURION® Process,
About MiMedx
MiMedx® is an industry leader in advanced wound care and an emerging therapeutic biologics company developing and distributing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. The Company processes the human placental tissue utilizing its proprietary PURION® process methodology, among other processes, to produce allografts by employing aseptic processing techniques in addition to terminal sterilization. MiMedx has supplied over 1.5 million allografts to date.
Hilary Dixon
Corporate & Investor Communications
770.651.9066
investorrelations@mimedx.com
Estimated Market Cap : $783.0M as of Dec 11, 2019
Outstanding Shares : 110.8M as of December 11, 2018
$1.5M Settlement Recognizes Company's Cooperation & Remediation Efforts
MARIETTA, Ga., Nov. 26, 2019 /PRNewswire/ -- MiMedx Group, Inc. (OTC PINK: MDXG) ("MiMedx" or the "Company"), an industry leader in advanced wound care and an emerging therapeutic biologics company, today announced that it has finalized a settlement with the Securities and Exchange Commission (the "SEC"), resolving a previously disclosed investigation into the Company's financial accounting practices.
The Company has agreed to settle with the SEC, without admitting or denying the SEC's allegations, by consenting to the entry of a final judgment, subject to court approval, that permanently restrains and enjoins the Company from violating certain provisions of the federal securities laws. As part of the resolution, the Company also agreed to pay a civil penalty in the amount of $1.5 million. The settlement, if approved by the court, will conclude, as to the Company, the matters alleged by the SEC in its complaint.
Dr. M. Kathleen Behrens served as a member of the board of directors of each of Sarepta Therapeutics, Inc. (SRPT), a multi-billion dollar medical research and drug development company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases, since March 2009
Mr. Wright was appointed Chief Executive Officer effective May 13, 2019. Previously, Mr. Wright served as a Partner at Signal Hill Advisors, LLC, a consulting practice, since February 2011.
Mr. Barry has served as a director of Elcelyx Therapeutics, Inc., a private pharmaceutical company, since February 2013 and has served as a Managing Member of GSM Fund, LLC, a fund established for the sole purpose of investing in Elcelyx Therapeutics, since February 2013.
Mr. Bierman served as President and Chief Executive Officer of Owens & Minor, Inc., a Fortune 500 company and a leading distributor of medical and surgical supplies, from September 2014 to June 2015.
Mr. Dewberry is a private investor with significant experience at both the management and board levels in the healthcare industry.
Mr. Evans has over 40 years of experience in the healthcare industry. He is currently President of the International Health Services Group, an organization he founded to support health services development in underserved areas of the world.
Mr. Koob joined the law firm of Simpson Thacher & Bartlett, LLP in 1970 and became a partner in 1977.
Mr. Newton has, since 2014, served as Chief Executive Officer and a member of the board of directors of Apollo Endosurgery, Inc. (APEN), a leader in the field of gastrointestinal therapeutic endoscopy.
Dr. Yeston is the Past President of the New England Surgical Society and currently serves as Active Senior Staff, Department of Surgery at Hartford Hospital.
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