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Haha! Literally anything is possible. I want to hear Ken spell out all possibilities next CC...
HAHA. Hey, it's something.
There's always an excuse. Which doesn't matter anymore. This company is on life support until data appears.
Let's look at what he has done then:
-He publicly stated potential AXAL wind-down
-Sold 30 million shares/warrants at all time lows.
-Cut headcount/costs
-Pulled back EMA submission
-filed one IND for HOT
-Got a 150k bonus for diluting (mostly bad optics)
-Licensed ADXS-HER2 to essentially a charity/non-profit
-No CC this quarter
I'm sure I missed something. I'd say its a meh overall, nothing terrible other than the abhorrent share raise for peanuts. EMA pullback was also tough, but I don't blame him, that's another management disaster of prior.
We need a deal is the problem. The question is who will deliver and when? Real LTSH have been decimated. This is years now of nothing but dilution and massive pay raises. Ken has done damage, but can he correct it with a reasonable deal before another dilution? This is round 3 or 4 on CEO's and so far it's the same thing - nothing!
It’s deal or dilution. The longer it goes the more ppl bet on dilution. Its really all that is left to consider here. Data too far off to save dilution.
I'd like to know when Amgen is going to figure this out... These sneaky guys fooled them too!
It's about time. He shouldn't have been throwing money into a pot dependent on management and their execution. Travesty.
That's my worry. Dilution before any deal can be signed. This company is a travesty. So poorly navigated and now all hanging on what NEO can show. Yet still spending a fortune. Years of waiting for LTSH and nothing but destruction. If HOT is a wait and see for NEO, then dilution is definitely in the cards. RS may happen before the raise as it'll be so depressed by that point that it won't be worth it. Utter fall from grace.
My favorite was when he stated our manufacturing facility was worth 200$ million alone. HAHA. Good times. Carry on.
Hmm. Unless the bonus was incentivizing him not to do a deal period, why have any bonus like this in the first place? A bonus for raising funds in this manner is hardly worth 150k dollars.
Am I right to assume then, given our "circumstances", that you did not see this provision in his contract as unreasonable?
Completely agree. That would have been a proper bonus aligned correctly for the benefit of the company and all parties involved. I believe most shareholders would have understood that one...
Agreed. He's doing his thing. The CEO position needed to be filled and this may have been required.
However, I do think the bonus was absurd at face value and it certainly wasn't for the benefit of LTSH, which it should have been. I would have assumed his lucrative paycheck and 1 million shares etc. would have sufficed. Alas, here we are with another massive chuck of the company sold for peanuts and the CEO getting money for it. All this has to end at some point.
Now that would really be something if he chose to do that. He still has time, but I highly doubt he cares about right/wrong at this point. He's out there to secure his financial future.
I don't blame either of them. He asked for it, knowing that he'd probably have to dilute his options and they approved it, knowing they had to do something for him to sign. It was a smart move by Ken, I think the writing was on the wall this was going to happen. 150k would have been fine, but not in the manner in which it was offered. ALL TIME low with warrants.
This company has no scruples left, imo. They work for the benefit of each other BOD/Management.
Exactly! I'm all on board the train that says one accretive deal and we go. I just hope it gets delivered. Look at AXAL/CERV, never in a million years would I have dreamt of them even contemplating shutting that down. HOT has been in the ecosphere for over 2 years now and nothing to date. They are trading at a discount of put up, or shut up. Ken not having a cc didnt' help much either, imo.
They're trading at a discount to any real value because the cash issues are still not removed. Until Ken secures something accretive, who knows how low this will go...
What would you call his free shares and retainer fees that over the years GROSSLY exceed that amount you just mentioned. Or does that not matter?
As a whole they're not down anything. Their shares are underwater, sure, but they're not DOWN ala shareholders are. You know that shareholders are not paid by the company and obviously receive no dividend or RSU's.
Incredible! What an utter fleecing of shareholders over the years. The only people that are NOT down are the BOD/Management/employees of the company. It's nearly impossible to grasp the level of pilfering this company has done. All in the name of chasing it down in the hopes of holding a lottery ticket one day. Retailers have enabled most of this, unfortunately. Sad.
I do hope something good happens to ADXS shareholders one day, instead of endless resets.
ZZaatt. It was a smart move selling. He can get back in for less today if he so chooses.
HAHA! Glad you got this all figured out. They dropped below 50% of their IPO price. Not healthy.
I dont know what to think right now. Smart move on your part selling.
NTGN - Wow! Another 52 week low of 7.86$. They're chasing us down, we're not chasing them up. What is going on in this neoantigen tech space...
We've said this before and now look at us...
I don't know if we have the funds to even make it to "solid" NEO data. A raise or deal may be necessary regardless. If so, let's hope it's the latter.
Warrant execution has the capacity to help as well.
Unfortunately, this doesn't help anyone in this investment. Regardless of its merit.
Appreciate the vigor in which you defend this stock. ADXS alone, w/their science and deal making, is the only thing that can help investors out at this point..
Wonderful! Thanks for the info, Iggy.
Anyone know these new buyers - CVI Investments?
What? Well than what would you call the recent 30 million share offering then? It completely refutes the very premise of your point, and many others here, that nothing "bad" was going to happen because insiders bought.
Not to mention there are countless examples in the market place where insider buys don't mean a thing. In fact, a stock can often perform worse after insiders buy. I'm not saying they bought in to just prop up the stock, but their purchases should, as you mention, have no bearing/indication on the reality of this company. Good post.
You can't be serious? Not signed means they're free to buy shares up until that point? While I agree there's plenty of grey area, that is not how this works.
Haha. Amen. My only solace is there's not much left for me to lose. What a disaster.
Freaky Friday tomorrow! Bad news would have been disclosed with the filing. One can hope.
This should be higher on that volume though. You're probably right.
Decent volume. Might be interesting tomorrow.
I'd have to agree with you on the warrants being dead. I only dabbled in them and at very low prices. Wasn't expecting much. These new warrants are the real crime.
Insider purchases coming out..
Yah. More like Freaky Friday. Where Ken and Bonstein swap bodies for the day. Problem is, this also seems to happen on days other than Friday. Adxs, ftw.
News flash! There wasn't a cc. They had nothing to say...
They dumped. Smart. Where's Edelman?
My problem, FBG, is these CEO's have not once raised money based on their ability to close a deal, but rather to avoid going concern problems. They have both (Tony, and now Ken) waited until the worst possible time to do raises, literally right before filing their 10-Q's. If they're going to gamble with the time frames they've done these in, then they should be dang sure they can close a deal or else this stuff happens. Their judgment right now is not eliciting any kind of positive vibes for me. Company is being thrown to vultures for nothing...
It'll have value again as they burn through the new cash. It's an utter shame what's happened here.