Reverse splits are absolutely stupid in the face of market manipulation. A good CEO makes mistakes and learns from them. I don't think Sonny was adept at the prison hustles that occur on the market. it displays a level of Naivete usually found in the honest.
$400K is a low pay grade in my opinion for his CV. The experience he's gaining here if amedica ever generates success will be worth it to drive him to a real CEO pay grade. Toxic loans are the unfortunate part of reality here. Not alot of investors want to invest that far off into possibilities anymore. It's a different climate. Seems like successful investors want to see beef on a quarterly and be the first to act on it. No speculation. No risk. Just pure profits up or down. or run a prison hustle.

A week or two ago I would have said the same thing. "Sonny is not trying here. Wheres the hips? He'll sell an amazing tech. and everyone will celebrate him for leading SiNi to success. Celebrate him for what?" I might be delusional but I think I`m seeing some very strategic maneuvering while I've been watching, Not long mind you, that speak volumes to me.

What's your measure? He obviously has pertinent skills that qualify him is medical device and material engineering. I think the most important aspect of a CEO is being able to read the short medium and long term and focusing your company in a long term direction. He's proven that to me. I would like laser focus and marketing. I`m hoping were getting the level of focus with Chon. Marketing is a tough one. This isn't an area that marketing works well in. It's more lobbying. I understand pushing that capital towards development in the interest of the long term goals of the company. If the only measure is success, then in hind sight he will get the respect he deserves on the way he has maneuvered the company. I dont think he deserves all the credit. Theres obviously alot of people involved in the decision making processes but I'm liking what I'm seeing.

Why merge Zimmer at all? I dont see ceramtec accepting bids from Zimmer. Yes Sonny Bal is CEO material. He's the guy ConforMIS calls to consult on new hip products. ConforMIS is taking market share away hand over fist.Another reason not to accept bids from Zimmer. The only thing you can say bad about him that sticks is he takes Poison loans and IPO`d it in the first place. Alot of companies stay private for a reason. These other guys, Zimmer,Depuy,Ceramtec etc. set up shop in a different era. Back when you had a bigger shot at life. These days I feel are a bit different. It's advantageous to crush your competition. What better way then being born in a state of eternal checkmate? It says something about AMDA they have stayed the course this long with pressure mounting from all sides.

Pretty sure that would be insider trading. If the stock went on a ride up that would look pretty bad. Especially with all the RS and rides down. Best for the company not to touch it after IPO. Median CEO pay is 12 million. He needs to produce EPS and apply for a raise.

Noticing Sonny mentioned spinal kinetics on the conference call and reading through the orthofix loan buddies filing. Knowing now they mention sintx in the agreement. It is my opinion they let go of the name sintx. The correlations have developed in my mind enough to with stand public scrutiny. If I remember correctly they all loan themselves 50 million+ in that agreement without having to reference it. What are they doing over there? From my understanding Spinal Kinetics has an expandable. How does this warrant $105 million when Amedica can garner 10 million for 9 devices? I dont think this is a bad thing. Very strategic and displays a focus to the macrocosm. That's what I like to see. Probably exactly what I`d do knowing the full picture here. I would not move forward until all of these companies are fully aware of the real deal here. Just turn you empty pocket inside out and let Amedica lead you around the prison yard by it if you value your health as a company going forward.

https://www.orthoworld.com/images/user/d41d8cd98f00b204e9800998ecf8427e/images/May_Zimmer_Exhibit1.jpg

You think in house manufacturing metal poisoning is helping their bottom line? What ceramic do they manufacture? What would Zimmer look like without ceramtec? In my opinion they could be completely replaced. In my opinion I could see a future where they`re left with 8% of their market share in Surgical, biologics and other. That's like a tire store that only sells 1 tire.

Any Ceramtec in this? Ceramtec sells their biomedical ceramics to multiple companies. Might be a step to what you`ve previously suspected on stepping away from the ceramtec complete and utter dependence. absolutely would not be a company without ceramtec in my opinion.

Interesting stuff. I thought silicon bonds to titanium pretty good. In CPU soldering the heat sink to the silicon chip you`re looking at trying to attach copper to the silicon chip. Heat flexing and delamination is a concern. Debonding is a huge issue and heavily looked at. First layer in the sandwich in this process is a titanium layer bonded to the silicon

https://overclocking.guide/the-truth-about-cpu-soldering/

and yet brazing is being looked at. From what I know about the definition of brazing it's similar to soldering. Soldering in the above definition is probably more along the lines of oven sintering.

I have contacted investor relations asking them for a link I can access to the conference call If they are not working on a written transcription.

hey Xena, unfortunately my recording device is broken. The only way to access the conference call recording is by phone. I wanted to call the conference recording. Record it on my recording device through Audacity app giving me a digital audio copy I could slow down pause rewind to transcribe the written transcription from. Hopefully they would place a link to the audio transcription on their website for computer access. At this point all I can do is try to type it out quickly while listening over the phone. Good for notes but not a great transcription.

Just finished reading the Spinal kinetics orthofix loan buddies agreement. Although spinal kinetics list sintx as part of their IP in the filing, there's a clause that lets them divest without seeking approval from the loan buddies board of directors.

https://seekingalpha.com/filing/4125120

If checkmate theory is true then why wouldnt Sonny buy up everything half price and take their money until these clowns get a real job?

What happens to preferred upon a name change?

https://www.sec.gov/Archives/edgar/data/47217/000119312515350839/d84170d8k.htm

Be careful what you say you`ll have to take the time to go to court and argue truth as a defense. A waste of time.

Some kid who is too short sighted to move out of his parents basement vs. a team of professionals that spent decades working on their future. Who is in over their heads in the art of premeditation? The kids a road bump.

https://www.sec.gov/Archives/edgar/data/1324759/000119312513226268/d541186dex991.htm

61. Cereplast repeats and makes a part hereof each and every allegation contained in paragraphs 1 through 60 of the Complaint.

62. Pursuant to the Note Purchase Agreement entered into by Cereplast and Hanover on October 15, 2012, Hanover was obligated to make a series of eight payments of $100,000 each to Cereplast, on specified dates, in exchange for convertible promissory notes.

63. Hanover made only the first three payments of $100,000 each, and now refuses to perform the remainder of its obligations under the terms of the Note Purchase Agreement. Therefore, Hanover is in breach of the Note Purchase Agreement, and Cereplast has suffered damages as a result.

67. Magna has failed to make a single payment due under the terms of the Bondholder Agreement and has stated that it does not intend to comply its obligations in the future. Therefore, Magna is in breach of the Bondholders Agreement, and Cereplast has suffered damage as a result.

I've tried to mention this.

This is chess. Strengthening ones ability to see beyond the microcosm and into the macrocosm of actions. This is Bal on the CC looking at this as a road bump. Other parties staring this down as their claim to fame are short sighted and deeply troubled. This is why I will always win a fight against a chimpanzee. I have a heightened ability to look into the future and realize consequences of my actions. I could prepare. Work to afford a gun.

Spinal kinetics looks like a nothing burger. After the second listen through on the CC. Sonny bal mentions them directly. Something about expandables. CTL has expandables. We shouldn't dismiss geographical correlations. Take H1 implant for instance. A factory produces 1.2 million metal implants that then have to be shipped to their ceramic guys to be coated with ceramics. The longer the Trucker drives the higher the end cost to manufacture. 1.2 million implants is a lot of trucks.

H1 and "k2m on merging with stryker touting 3d printed and titanium as the only safe metal PR" right before merger. Leads me to believe there is awareness to the documentary shining light on Towers research. The Professors will "educate". Updated gen2 doctors rolling off the university factory line will replace what doesn`t evolve through the sales reps pitches.

"All clear" is not tangible. what were the ppb in elevated levels of chrome cobalt? Tower was noticing his issues as "dramatic" at 4ppb in himself while the consensus was under 7 ppb should be "all clear"
1 mans death is a tragedy a thousand is a statistic. What if it were your wife getting med flighted out for a flesh eating biofilm on one of these? a Patient? "dont judge us on our outliers"

If SiNi sticks to chrome cobalt without separation, why not use it to mitigate a potential risk here? This stock is potentially disruptive. It will now be tazed and escorted out of the building.

Conference call Transcript:

WARNING: I speed typed this then interpreted what I wrote, thus may not be full or factual.

thank you doug and good morning welcome to the conference call. I am Sonny Bal, chairman and CEO of AMDA. the purpose of this conf. call is to discuss sale of our retail spinal division
thank you investors and employees. remarkable technology silicon nitride. in terms of this call to discuss 1. road map 2.rational for sale 3. overview of finance. a transcript record will be posted of this call. In terms of history silicon nitride is used. Common in space, aircraft weapons systems.
amda was founded in 1996 by aaron hoffman and phd ceramic scientist ashok and focused on femoral heads silicon nitride formulation.
prior to amedica australians in 1980's used silicon nitride and noticed bone healing based on chemical properties. They made primitive lumbar spine implants and placed them into patients.
to their credit 5 10 15 patient followups showed excellent results. did not clear hip ball
but spine 2007 2009 spine raised capital. since that time 33000 silicon nitride implants 8-10 year follow up with minor issues. pedicle screws. we take pride in worldwide standards
personal history: I personally invested in at least 3 financing rounds. no doubt in mind silicon nitride is a unique material. 2012 i became a member of board of directors 2013 I became ceo. Something job I need absolute faith to give up my surgical practice proffessor.
2015 2016 we restructure and payed debt and fired employees. proved material works. this data is peer reviewed honest and envied. 15 million gross proceeds S1 we mentione we where looking to sell our assets
we upgraded metal met with surgeon experience. challenge was increase spine sales. accepted respected science. have no doubts in amda nothing to prove they find something to sell.
anemic sales neck pain 4 screw 1 spacer 1 bio mat 1 cerv plate =7 items. At best we have 1 out of 7. like a tire store that sells 1 tire. only way to sell our products is high commisions. any other Company offering a full line we are out. our sales reps cant be in the room. we have to hand our product to competition while we stand outside.
future: invested in obsolete metals since 2015. reposition as oem. We where really 2 companies. 1 was silicon nitrides enormous potential and 2nd spine sales.
considering our options we consulted for options. considered: keep going. raise $ and invest in sales and shut down research and development to focus on spine retail. Reality is spine sales lose money and need $. option: buy a small spine company well most companies lose money have no differentiating product and most dont manufacture and have legacy surgeons. we tried other options that where not worth the time or effort.
we looked at the option to sell the entire Company. All where not interested in both Spinal sales and manufacturing. Only one or the other.
we examined options and decided to sell to CTL and keep biomaterial business. What is left? alot. R&D.We own fda for silicon nitride and material patents and are the only manufacture of sini medical. Establish ceramics dental and universities, our revenue modeling is realistic. improve properties of sini. we are left with best in class we can execute go forward markets spine expand portfolio with ctl coatings. dental.
leverage antibacterial. These claims are proven. no material claims this. Brazing. commercialize that. only focus Silicon nitride. no more metals. antiviral.
continue research sini? yes priority. New products in hands of spine surgeons. new products in hands of surgical engineers, 100 patents per person we have access to at ctl. non spine silicon nitride is far along. drive poduct develpment. pure R&D continued partner financed. we have sini minds locked up.
why sell spine? favorable margins. too much commissions we lose $ to win. too much competition.
this industry demands new products. we dont have expandables. CTL launches new products. we are not strong in spine CTL is better. invest our limited resources into other products. develop products. hire consultants and engineers.
we estimate 45% margin for dental maxiofacial. 30 36% on retail model. I would rather have a fixed proportion of a bigger slice of pie than a shrinking portion of a larger pie. Why CTL? credible, honest integrity. We narrowed down choices. we share a commitment and passion for products. CTL did their DD and followed our companies science for 5 yrs.CTL has a clear goal on how to leverage this and has a full range of products(tire store 1 tire).

CTl offers an ideal product test bed for are studies. seasoned management, proven sales growth, are agreeable to the big picture and will allow sub license. we looked at other companies lack of capital, no growth. no visiton. no in house manufacturing which would shut down OUS. incompatible sales tactics incompatible values. 10 yr manufacturing agreement for CTL only.

the engine in the back is AMDA.A mutual model we`re both good for each other. I took 4 flights and talkd to 2 ceos. Surgeons love it we invest in surgeon relations. invest in research and development of spine related to silicon nitride. new designs CTL. Why 8.5 million? why not more money? valuation was independent that was the number. We needed more money other options had no clean exit. no doors are closed superior offers we will consider.
even after deal both CTL and Amedica are for sale. we always look for options. what about 1.5? blablablabla very conservative. why raise 15 to sell to ctl? AMDA wants to be OEM comapny. spinal kinetics looking for partner? our belief spine sales if we sold more we lose more we suck at that. R&D new formulations. Focus down not lose sight of true value.
Sales dont attract interest. $ from these proceeds will be used to pay down debt carry company forward. only after analyst consultants who agreed. Why hurt investor and reward shorts? We dont have control of what happends on NASDAQ not want hurt including myself.
existing debt. hardest time was raising capital in 2014 with no data . since then quality improved debt down. forward w CTL we can get better financing. NO debt today. more $ then mkt cap. reduce cash outflow by 50% 2014 of goal. most important is to help CTL sell inventory. Get to steady state of OEM revenue via CTL. Increase sales. Staffing? already where fired. Some go to CTL following close 20 employess. previously 100 in 2014
2019 delisting? focus on what we do. Market and investor will realize value. Conservative projection. Revenue doesn't improve. Nothing more. No dental in our projections.

conservative revenue forecasts. since 2014 we executed on all debt. we are debt free. tech is proven. respected by global industry. More clinical data. only 2 goals to drive ctl sales and deliver on additional revenue sources. our new name: sintex.
the name is a play on chemical formula, Most beloved. The word tech represents breadth. truly captures as a name what we are now. surgeon customers telling me u got science. u the future. u need to sell and find a selling partner. excellent reception to deal by surgeons.

Surgeons:
"excited product will improve i always believe in science"


"New direction may be best route"


"Long term user here. deal already shows consciencious, hidden jewel in a me too technology market"

"Most surgeons are starving lets make a deal."

"all playing not to lose not to win"

Onsolicited

Sums it up we are trying to innovate and win it. continue to gain true believer and offer new solutions. we came a long way since 2014 and best is ahead. thanks for support.

Not that I like to see Reverse splits and then public offerings but its better than the alternative of Bankruptcy. This is why Sonny has to mention he has also purchased shares and is a forced victim of his own orders regarding Reverse splits. How many times do you think he will repeat his same mistakes regarding Reverse splits not working? I dont think she has another one in her. Full disclosure these reverse splits have so far been nothing but good to me.

This is a legitimate concern in this example: If you where a tricky CEO you issue preferred and common. Knowing a buyout is a distinct possibility your buddies own preferred and do not convert. Upon buyout the buyout price for common is slightly higher than a VWAP. The real money is in the valuation of preferred buyout. This is a target in arbitrage as you hold the preferred while shorting the common. This example is not happening here as preferred is consistently converted to common.

2 scenarios an inability to read the sec filing or trying to take advantage of others inability to read the sec filing. The other day it wasn't making much sense because there was nothing there. Yet everyone showed up to congratulate him. I`m glad he clarified. Even tho He has made no mention of this when I mention the .48 floor. Anything else too direct in declaring a floor below .48 at this time would be false statements.

madg is arguing that 3b conversion is occurring at a lower rate than the .48 floor. What he posts for proof of this is a clause stating that if AMDA issues new stock or preferred shares in the future lower than the .48 floor then whatever price they issue these at is the new floor. It would take a new deal reported to the sec to have the floor lowered this way.

Ask him how much he thinks floor conversion is. He`ll say .48. He knows if he says different its false statements and the sec gets involved. This is why it took me awhile on wtf he was trying to talk about.

We dont even know if these preferred are being converted. Sometimes they are held as preferred. The only way we know is on quarterlies and if they are converted into common it means those who own them believe the common is worth more than the conversion price .48.

its already been stated in the trademark filing classification they may be working on eyes .
https://trademarks.justia.com/868/07/sintx-86807747.html

http://eyecancer.com/wp-content/uploads/2016/06/1-enucleation.jpg

https://www.ophthalmologyweb.com/5565-Hydroxyapatite-Orbital-Implants/52514-Bio-Eye-Hydroxyapatite-HA-Orbital-Implant/

Given that I`ve just become aware of this. So I got like 5 minutes on it. I think it might work as a coating to reduce or eliminate corrosion after the magic happens and its irretrievable. There is research into Development of high-thermal-conductivity silicon nitride. If it's a brain tumor or metal poisoning across the blood brain barrier. I`ll take the metal poisoning if those are my only options.

No wonder some doctors are displaying a bit of technophobia and leaning towards resorting to old methods of carving you a hip out of Ivory. In my opinion this is wreckless abandon toward a race for profits with negligence of chrome, cobalts and metal oxides, material changes causing cracking of the implant and ignoring the decreased wear rate of silicon nitride. Theyre requiring too deep of involvement when you suddenly realize they are not to be trusted.

We can race ahead here as scouts for our research while the Tank class of the real world slowly lumbers behind. When it catches up to us everybody is getting slapped down. I`m totally feeling what Bal is talking about playing not to lose vs. playing to win on this one.

Ive checked Coorstek patents and Ceramatec patents, to see if they left something behind and not seeing anything on production of the Cerasurf hip. maybe Im missing something.

Surgeons in Florida have adopted the new medical technologies of @conformisto perform a hip replacement using 3D printed implants. Expected for commercial use next year, the system can be adapted to fit a wide variety of patients and anatomy. https://t.co/VN3Vc6vP2t pic.twitter.com/MUHxYYVNTj

— Ceramics Expo (@CeramicsExpo) August 8, 2018

We'll see, we've already gone through the math of max conversion of shares to determine total OS on full conversion. They`ll be posted on the quarterlies with the EPS as they convert. FUD through fear of dilution is what theyre going for today I guess. Not that it's exciting for me to watch Reverse splits then public offerings to replace those shares.

I`m not sure what he's trying to convey. That warrants and preferred shares conversion price will adjust until 3(b) with a 5 day VWAP not to go below .48. This is some kind of revelation to him?

"Oh noes someone wants a bunch of common stock. This is bad abloo bloo" Yeah buddy theres alot of people that want a slice of pie. U keep painting this as FUD. We all gotta eat. Now go Paint it as arbitrage and say their holding the Preferred and shorting the common next. Yur doing gods work kid.

zimmer, biomet, ceramtec, and Depuy are all getting sued for biolox delta by ceramedic. Interesting to note. Amedica's non SiNi patents are being filed around the date these lawsuits fired up. The interest of the patents looks to be to create a superior ceramic that Didnt degrade and fail in vivo by cracking in half, but I think they may provide a work around that do not violate the Ceramedic patent. Not sure tho neither a patent attorney or ceramic engineer and not wasting my patent engineer friends time reading all that "in this instance". I messed up accrediting those patents to Ashok. They look accredited to McEntire. The counter argument to Ceramedic looks to be that processes such as ceramic slurries etc. where well known and therefore unpatentable. So maybe they just messed up and filed them a patent? I dunno not a patent lawyer so this is my best shot at deciphering it.

It looks like Ceramedic LLC is suing everyone over Aluminum Oxide ceramics in pending lawsuits since 2014. The only info i've uncovered on this company is it's a subsidiary of Acacia research group. A company dedicated to suing everyone.

Kyocera, Ceramtec, Coorstek. A compelling argument can be layed out for all three in involvement. You think Ashok C. Khandkar would go after Coorstek or Ceramtec with his patent on a Method of manufacturing an Aluminum oxide ceramic. Instead it's Ceramtec going after Coorstek over the color pink. Maybe they all get some. If hips do not come to market the Company has failed. I think this is their bottom line over any financial measures. Just rolling out the product line detailed in their PR pictures.

Why would you go public thus inviting us to poke around with our DD?
Is this some kind of funding experiment that went wrong? Like if we are the ones who benefit then we should be funding it?