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Why hasn't Ji hired a CFO?
I wonder if one of the bullet points is experience with bankruptcy?
If you read my posts you know that I've been short, made a ton of money and covered around $2.00.
I'm way smarter than anyone I've encountered on this board and consider it my public service to point out how bad this company so that everyone doesn't lose everything.
If you don't want my perspective don't click on my posts.
yea well the truth hurts.
every other bio company would have doubled on this news
Ji has F'd this up so badly that nobody cares.
Just assume it's fiction.
Reason SPAC deal is a yawner to market is because the timing is Q322 from press release. That's taking much longer than normal SPAC deal which adds tremendous risk to actually getting done.
When the deal actually closes you might see some movement. Then again SPAC deals have gotten crushed out of the gate so the movement could be down.
Yep...total spin. BTW it took a long time to come up with that spin. Didn't have it at the previous conference.
My screen has a huge sell at 12:20. 570K shares.
Doesn't seem right given the total volume.
Missling's mistake again....
Why does he lead a PR with biomarker crap and Phase 2 headlines no one gives a crap about. That's not investable.
Lead with all the efficacy data since that's what is ultimately important.
Efficacy is in the bullet points why not the headline. Seems dumb, but then again I think Missling is dumb. Not book smart dumb, but street smart dumb.
Someone posted some poster presentation details the other day, but I guess that was bogus.
Like you I don't see Anavex listed as an exhibiter or anything else.
When you have no money it doesn't matter.
Without a miracle I think ultimately it goes to $0.00.
I believe in the adage pigs get slaughtered. I've made plenty on my short so I'm done.
You guys thrown in towel yet?
Or averaging down throwing good money after bad?
I was waiting until after the 10K came out to cover. I assumed it was going to be a disaster and it was, but most/all of the disaster was already priced in so not a lot downward pressure.
Ji needs to pull a rabbit out of his hat or this thing is toast. I don't make investment decisions based on magic so while I'll cover I won't be going long either.
Bio - you established through evidence that Missling can't execute his way out of a paper bag. He makes the same execution mistakes over and over again.
BTW if you want a laugh go to LinkedIn and look at the backgrounds of the people he's hired in the last 6 months. To say they look like the cast from misfit toys denigrates misfit toys. He simply can't get anyone worth a damn to join Anavex. As a group they are a joke - proven by the continuous rookie mistakes.
I'll bet these guys are pissed off. I don't know where the stock was when they agreed to sell the company, but mostly likely much higher than today.
We will see who is right very soon. $100 million is burned every quarter. They get a "going concern" letter from their auditors every quarter which means not enough cash to last a year. The reason the previous CFO was fired along with the auditors is because they refused to stop the going concern letter.
BTW - revenue doesn't cover a loan - cash flow does and Ji doesn't have any. It's all negative except for dilution and now this loan.
I continue with my big short in this garbage.
Covid is over, Henry totally screwed that up and wasted a ton of capital on it. Capital he could have been using to develop other parts of the pipeline.
A huge tell for me is if Henry can attract a top notch CFO to the company. If he can I'd be surprised.
Riley did the loan because they are first in line for assets in the bankruptcy (equity gets zero) and in their view they will get a value much larger out of bankruptcy court than $45 million. It's called distressed lending and may financiers have made millions this way.
You all realize this stock is priced for bankruptcy, right?
I get tired of all the hand holding.
Open link
Under document description at top click drop down.
Click on 1. Withdrawal of Application
Withdrawal document will populate
Below is a copy of the text file
Trademark Trial and Appeal Board Electronic Filing System. https://estta.uspto.gov
ESTTA Tracking number: ESTTA1193530
Filing date: 02/28/2022
IN THE UNITED STATES PATENT AND TRADEMARK OFFICE
BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD
Proceeding no. 91274741
Party Defendant
Sorrento Therapeutics, Inc.
Correspondence
address
LINDSAY J. HULLEY
RUTAN & TUCKER, LLP
611 ANTON BOULEVARD
14TH FLOOR
COSTA MESA, CA 92626
UNITED STATES
Primary email: trademarks@rutan.com
714-641-5100
Submission Withdrawal Of Application
Filer's name Lindsay J. Hulley
Filer's email lhulley@rutan.com, trademarks@rutan.com
Signature /Lindsay J. Hulley/
Date 02/28/2022
Attachments COVISTIX Notice of Express Abandonment.pdf(11467 bytes )
Did you read the document?
Sorrento withdrew the application.
Obviously Sorrento disagrees with you.
COVISTIX trademark abandoned a day or two ago.
https://tsdr.uspto.gov/caseviewer/pdf?caseId=90196893&docIndex=2&searchprefix=sn#docIndex=0
So nothing in Q421. When that's reported in SEC filing on a Friday night that will be very disappointing on Monday morning.
Will Missling PR great results today in the worst possible market?
Seems like his m.o.
I think it's highly likely that after Henry posts the 10K on a Friday night there is a bloodbath on the next Monday morning after people realize there's no stix revenue and Henry's diluted another 30-50 million shares.
After waiting 3 days for the dust to settle, then and only then should you buy. I will probably cover at that point since I think the stock will be below $2.00.
It would really help if Henry would hold an earnings call and take questions questions from analysts who follow the company.
Most importantly if Ji could provide revenue and eps guidance going forward that would really help the stock price in my opinion. At least much of the guessing would go away.
The fact that he won't do this means no stix or any other revenue beyond what he has already.
What a clown show.
You realize Ji doesn't prepare an earnings report, right? Not to mention there are no earnings, only losses.
What Ji does is file at SEC.gov on a Friday night the 10Q or 10K - whatever is appropriate for that period.
The fact that Ji reports this way is a major red flag. No real company does it this way. Or at least a company that gives a damn about its shareholders.
Still don't have full PDD data in a peer reviewed journal.
Another broken promise from Missling.
This is an example of the kind of crap many investors are SICK of with this guy. No one on this board is sick of it (except for a handful), but anyone with objectivity is.
Close at $2.88.
You and perhaps 5 other people on this board believe your $100 million number.
The market ultimately has decided you are wrong and have set your cash on fire.
Sell what you have right now and buy a cup of coffee.
Not a chance in hell they'll have $100 million in the bank from Stix.
If you think paying in effect a 12% interest right now is cheap you're insane. Thanks worse than junk status. The math is a 4% fee X 3 to annualize = 12% (with no compounding)
SCILEX generates nothing from a cash flow perspective for a year or more. I.e can't sell shares.
Being able to sell Celularity shares in June or July (have to check) will help. That may be the answer that Ji needs $45 million to cover everything until June 16 when he can sell CELU shares.
$45 million is about 45 days of op ex financing.
ATM must be shut as no one wants this junk anymore.
Positive spin - which most are spinning on twits - is Ji must KNOW something to put a bridge loan in place.
My spin is shareholders are screwed.
Here's thought I read on a Sunday:
Secretive companies are often the best companies because they:
- don't need to raise money
- are confident in their growth prospects
- are always working on more than the market is aware of (and can thus surprise investors)
- are long-term oriented
I could argue Anavex checks all these boxes.
Don't you mean Feb ish 2023
This board can defend nonsense all it wants, but a financial question about cash should be answered by the financial person. If she can't answer it she should be demoted or fired.
How many earning calls have you listed to. Me = 100s.
The CFO reports AND answers questions, period.
you don't know what you're talking about.
We have no idea about FDA guidance because Missling won't tell us any details.
This was a very simple question that any CFO should be able to answer and Missling should have let her. It's simple math $150 / $2.5 = 60 months =
5 years. Wow that was hard.
So, what are left with? Sandra doesn't believe in the nuances because Missling always dilutes every quarter (including Q1 the other day), she disagrees with saying 5 years when everyone knows if anything is approved the cash won't last 5 years which actually could be a good thing depending how fast Missling can get to CF positive. He's got to hire a sales force, contract with a manufacturer and so forth - just don't know how big the upfront check will be before revenue starts coming. She may not be a strategic thinker and given she's more or less a bean counter probably is very linear and can't frame nuances the way Missling can and he didn't trust her to do so.
But, what the heck do I know.
AF is tweeting again saying Missling is dodging the question about abandoning the original meaningful endpoints for the made up ones he reported.
Why doesn't he just jump on the call and a question? Because he's a bully and afraid of confrontation.
The interesting thing to me is why does he have such an interest in a less than $1 billion market cap company?
The issue is we've all seen the game before and many of us expect to lose on this particular day. For me that means a reading of the press release, stating how excited everyone is at the company and then bogus questions from worthless analysts.
There's always a chance Missling will go off script and exactly explain in plain English what happened with Rett and be very clear about trial timing expectations, but I doubt very much he will. Some analyst needs to ask him when his meeting is with the FDA. Not planned, not planning to, exactly when and what is the agenda.
Well, so far none of this is true.
Maybe the call will be different this time. Normally Missling just reads the press release which had none of this info.
If he doesn't verbally walk through all the details of Rett, the FDA, etc. Missling is making a big mistake.
The analysts have got to press him as well.
If it were me I wouldn't take questions from the Canter guy who cut the target by $11 or 40%.
Isn't everything on this board either heresy or opinion. At least everything without a link to something else.
My concern is whether the leaked info and/or the connection with McFarlene compromises the study in any way.