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JTFM,
I believe $37.1 million revenue is for 2 Pharma Facilities. ANI already closed 1 down due to no revenue and cost. The projected revenue on page 141 and 142 of the S-4 should valid since provided by ANI to Oppenhiemer. If got delta, it will be not much...
$19.9m for 2012 (should be around $21-22m max)
Guys,
The fair % ownership should be 90% Bpax and 10% ANI. You think I crazy, just see the current revenue +$200m off label libigel vs $20m from ANI. Also refer to projected future ANI revenue vs Bpax revenue projected by me from my previous post. Hehehe...
This merger should not happen at first place since we got +$200m revenue from off label libigel that generate CASH. We can buyout ANI later.
Simes and BOD just give away the company. You ever heard that CEO with +$200m revenue step down after merger and let CEO with $20m revenue to take control? THIS IS BS...
Prof,
Do you have any comments for my previous posting? Not make sense at all? Hahahaha..
JTFM,
What !!!! ANI's revenue only estimates were at $106 million by 2016 and $143.6 million by 2017.
BPAX already had revenue more than $250 million at 2014 and could reach more than $500 million at 2017 when libigel being marketed to worldwide. This is for off-label Libigel alone, not yet add up revenue for HSDD libigel + Bio-T
Future fair ratio shown BPAX value 10X more than ANI. So the fair % ownership should be 90% BPAX and 10% ANI as for now.
ANI have a business plan, BPAX don't have business plan? BPAX should BUYOUT ANI along the way so that BPAX to the equation with both manufacturing and sales capabilities becomes magnified in the event Abbvie wish to co-promote/develop Libigel.
I only agree if the % ownership is 90% BPAX and 10% ANI.
Prof,
I totally not agree with you on the 3) merging with a ANI for cost effective solution. BPAX should not merge with ANI at all. What BPAX should do is capture the libigel +$200m revenue (4+ million off-label prescriptions) first and with that profits, we can BUYOUT ANI for $20m valuation. That time we can talk about cost effective solution but not now...
I still not happy if get 49.9% with Biosante management themselves accept the same CVRs instead of golden parachute. Again, BPAX worth at least 10X more than ANI. If you talking about fair % ownership, it should be 90% for Bpax and 10% for ANI. Simes and BOD totally mismanagement the company. These crooks and criminals must be punished by lawsuit..
Sorry, for keep saying lawsuits. At this time, I don't see any other solution beside that...
Guys.
ANI got $20m revenue VS BPAX got $200m at least for 4+ million off-label prescriptions alone.
Pls do your maths. BPAX is 10X worth more than ANI.
Some more BPAX no need to have manufacturing plant at all (profit margin increase due to low cost). Just contract manufacturing to ANI and then can sell Libigel already...
PeteRose
Yes, you are right on this. Bpax can go alone or partnering to capture the 4m million off label scripts for Libigel, instead giving away the company in this stinks merger. By selling this off label scripts Bpax will generate revenue/profits and with that we can go further for efficiency trials for Libigel.
To all,
Simes and BOD actions do not justify their so called reputation professionalism on this matter. You might say BIG FISHs is controlling them, Simes just a puppet. This, we're not sure yet, but I'm sure we can sue Simes and BOD for mismanagement the company.
When come to 2nd voting, "THE MERGER IS DONE DEAL" and we should not focus too much how we will vote instead move one step further to prepare any class action lawsuits together.
I think you can vote Yes or No, is up to your justification but when come to Class Action Lawsuits, we must stick TOGETHER.
R3D,
I agree. Now is not about money anymore, it's about justice. I will not let these criminals get away so easily. I'm all in for any class action lawsuits later.
Simes is a criminal in my book too...
The whole Bpax BOD are crooks and thieves. We should not let them get away so easily for destroying BPAX value. Stick together guys...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86835273
JTFM..
I totally agreed with you on the GVAX deal. Once the royalty and milestone payments being disclosed, we will have solid informations to justify and build out points whether legal action is needed.
Frankly I already lost faith on Simes. He promised ;
1)Safety data for LibiGel
(withholding this information from shareholders)
2)NDA for libiGel.
(Not going to happen. Liar !!!!)
3) Vote 'for' last R/S proposal as a backup plan so that to avoid being delisted
(What he did? He just activated the R/S next day. Liar !!!!!)
The whole 2012 year, basically Simes no contribution to Bpax at all, only burn Bpax cash and every months wait for his paycheck. Even worse, he dare to ask for golden parachute now.
Opppss.. he got did 2 things
1) Asked us to vote for the unfair merger deal.
2) Sold GVAX cheaply.
You all still trust this Simes and his BOD? What wrong with you all? ZZzzzzzzz
JTFM, Prof..
Ya, my understanding also same. Only count on voted shares. The winner of Yes or No dictates if it is approved. This round no need requirement of majority shares as it's done under 'reorganization' banner and not 'new merger'. That's why I said 'THE MERGER IS DONE DEAL'
JTFM,
I'm kind of agree with you wait after the merger (since we can't do anything now) and decide whether to file lawsuit. We should have more informations to build out case then. After the merger, these crooks can't get away so easily for what they done to loyal bpax shareholders.
How about GVAX deal? This is different from the merger. We had stronger case on this matter. Selling GVAX for $1m is a steal. I know you still waiting for royalty and milestone payment terms to justify. Don't high hope on this as Simes said to you over the phone call, the terms are industry standard. So selling for $1m with standard terms make sense to you? Should we file lawsuit on this matter first once the deal terms are clearer?
To all,
Pls don't forget the GVAX deal as well. This deal clearly one sided and way below valuations. The worst part is they offload GVAX during/before the so called merger and thought will get away with it.
The merger and GVAX deal are 2 different issues here and legal actions should be taken on both cases....
Prof.
This is why I said the 'MERGER IS DONE DEAL' as they're using backdoor to get it done (No need Majority Votes). There will be no fair deal, should we call or email all Bpax shareholders to vote NO? Hahahaha...
What we should do now? Any idea, Prof?
JTFM
As for lawsuits, it is apparent they are not in control, I wonder if we would be better served by seeing where their plan takes us.
QyQ: Whatever their plan and where it takes us is not in question now. If the plan is good in future, we let it go? If bad, how? This is not a right way, we should look at the merger deal now. It's a fair deal for superb low evaluations? Pls don't jump the gun to future as nobody know what will happen. Again, they already sold us out on GVAX deal...
Finding out the motive for their actions is very important and right now it all being based on assumptions.
QyQ: Whatever their motive, they should not present us with this unfair deal at first place. If they working for Bpax shareholders, no way they sold off GVAX cheaply during/before the merger and keep telling us that this is the best they can do. If this is the best they can do, should we count on them to get a better deal for the merger? I'm not..
JTFM
'Biosante is becoming just a shell of a company with assets but few employees. So there is no doubt that one way or another the merger was going to happen'.
QyQ: This is very obvious that ANI only interested to offload their investment fund thru BPAX listing. They not even care about bringing ANI brand name to the market board and let the world know. ANI should convince BPAX shareholders, this is a GOOD deal for all, instead using backdoor to get it done. Sigh....
THE MERGER IS DONE DEAL
1) First of all, this still requires approval by Biosante shareholders, it is NOT a done deal.
QyQ: I said again, THE MERGER IS DONE DEAL unless intervene by SEC, FBI or lawsuit. Pls stop giving hope to loyal shareholders as Bpax already changed the voting condition.
2) Second, liquidation is NOT the ideal solution and that would not get us any where near what we could get with a sound merger.
QyQ: Agreed that liquidation is not a ideal solution. In between accepting the unfair merger deal or liquidation, I choose liquidation. I don't want to see ANI BOD pay with high bonuses for accomplish this unfair deal, ANI shareholders smiling to BANK and laughing HAHA... to me.
3)Third, the concept of a merger is the right way to go but the issue is the terms. So just like the first merger agreement failed to pass so will the 2nd until these clowns get it right.
QyQ: Agreed merger is right way if the terms are fair enough. Don't talk about the unfair % of ownership even the worthless CVRs is not Bpax shareholders friendly. The 2nd voting, they will get it pass easily, you can count on it as the THE MERGER IS DONE DEAL
The so called NEW MERGER DEAL
ANI investors = Initial investment less than $15m
After the merger = 23m shares X $1.20 (current market pps) = $27.6m shares that can easily sell-off for cash. PPS rise in future, ANI gain more while initial Bpax shareholders only recoup some of the losses...
Beside that ANI also get $18m cash from Bpax to pay their BOD for bonuses.
What Bpax shareholders get on this merger?
Low evaluations, worthless CRVs and reverse split in future..
Hi guys, you all accept this kind of one sided deal, I got nothing to say anymore. I prefer go for 'Liquidation' rather seeing ANI take advantage of us. If ANI want listed, go IPO yourself and not to offer this ridiculous so called deal. The funny is Bpax BOD can accept this deal and asked their loyal shareholders to vote for it. Hahahaha....
We should do as following as the merger is " DONE DEAL"
1) Get SEC to intervene
2) Get FBI for open up an investigation. 'GVAX deal and the merger'
3) Class Action Lawsuit
They managed to get 84% shares voted 'For' on proposal 1. That's means the so called 'merger' is done deal as coming voting condition is not required Majority Votes.
nutsyprofessor: Our votes is not important to them anymore because it will not effect the outcome of the final result.
JTFM: Stop hoping and dreaming that we eventually will get a fair deal. Is time for legal action against Biosante's management. Legal action should be taken when they sold us out on GVAX. Any news from FBI?
JTFM... They will not correcting or overcoming the artificially low valuations as it would be like SLAP in the face and open-up CAN of worms which will expose them for criminal investigation.
The coming vote condition is not required Majority Votes and they will get it approved easily. They merger must be stopped until proper evaluations. What i see, the only option is SEC to intervene..
Thanks JTFM..
Pls do not forget Simes offloading GVAX cheaply during the merger was unacceptable as well. Selling this asset for $1m make no different if licensing it out. THIS IS CRIMINAL ACT
Can we do something about it, like legal action to block this sale or report it to SEC?
ANI gained another 1.3m x $1.20 = $1.56m (to compensate Bpax cash burn-rate) in the new merger deal in exchange of worthless CVRs. So basically, nothing new in this so called "new merger deal". It's like right hand out, left hand in if you understand what i meant. We need to demand a proper Valuations or Liquidation.
JTFM, pls do whatever to block this merger. Any news from SEC??