You see, this is a simple, logical explanation. I'm glad that I asked the question about revenues vs. expenses. I hope this helps other posters as well. We need to keep our eye on the big picture. Thank you.

Right. They have loans to pay back including to Sonny by July. So I get it. It's strategic. Still one can argue that they are moving closer to break even and then profitability.

So boston are we able to extrapolate what their monthly burn rate might currently be based on the filing? I'm a novice at reading those things so it would take me all day. I'm curious because it seems that they have lower income and lower outgoing obligations.

What does it mean? What does it mean? I just got home from work so I haven't read the 10-K but it doesn't sound good. So do these numbers make the current share price and market cap more accurate?

You know to me it comes down to this; someone has compared all of AMDA's numbers every quarter to nothing more than market testing, research, and proof of concept; a smoke screen. In other words they're not really trying.... So it comes down to this for me. Is all of this just preparation for the merger with Zimmer or is the CEO, Board of Directors, and sales team so inept that they can't sell a great product???

We all have to decide for ourselves.

Makes sense. I know that I shouldn't get too excited about April 26th because the announcement can come at any moment and it could be after that date, but I am. It seems like we are approaching a defining moment. If after all that has happened, there is still no announcement in the near future then it could signal other things causing a delay that we don't know about. Hanson seems to have a lot of things to talk about on the 26th. I'm really banking on it being about Amedica; And by banking I mean continuing to buy shares.

You're on a terror posting the last couple of days. I would think they had intended to do the merger in 2017 because of all the things posted here ad nauseam (LOI, audit, de-risking, personnel movement, etc). And according to the press releases from 1/25 and 2/27 things are definitely ramping up behind the scenes but we're just not hearing about it. Take for example the little Taurus Penacle Screw, that along can generate $5 million this year. We had two good pieces of news this month and the SP dropped. So what could be the hold up now?

Good posts from mufferhead, Michael, and Derf. It does seem like Sonny's loyalty is not with shareholders but with Zimmer (assuming the merger is on) or with himself. I believe the S-1 could still be executed even if it was announced six weeks ago. That would in fact be the way for AMDA board members to "get in cheap." And it would be legal. Yes we are down 60% since January and so we'd need the price to rise about 140% just to get back to $3.75 where is started in January. And think about this 8 months ago that price would have been .31 pre-split and we'd thought there was no way it would go under .30. My how things have changed. I'd love to see $3.75 again while we wait for the big event. And so what if the board members buy in cheap. If we made a killing and they make more of killing, will it really upset you? I think we'll all move on with a smile on our faces. Anyway January, February, and March have sucked. Let's hope April is our month. It can't start soon enough.

$200 million divided by 20 million shares is 10. $10 per share. But anyway $200,000,000 seems like a lot of money now because the current market cap is under $5 million but it really is not very much money. It think AMDA will be worth more than that in a merger/buy out.

Ok thanks. We don't need the merger to occur between now and August as I had stated but we do need a seminal event, as Xenalives put it, to occur; News with some huge dollar signs attached to it that screams WE HAVE ARRIVED!! News about FDA approvals and patents or presenting at conferences are nice but they are not gonna do it. It has to be a material event.

I thought that they were tapped out; that they couldn't sell shares ATM. So are the shares coming from AMDA? I'm still learning. So the OS is about 4 million but they can keep selling? What is the significance of August? I thought you posted something about that once or twice?

I want to believe that there is something HUGE going on behind the scenes and it's a race against time. AMDA can only raise money right now with private loans and the right's offering. I think the real question is whether we (AMDA) can keep this up until the major event happens or they are allowed to file for an increase in Authorized Shares (AS), which is August right? So if no merger between now and August, we could be in trouble if they file to increase the AS to like 25 million shares. That would suck as we'd go back to penny land and it truly would be wash-rinse-repeat.

I hope you're wrong about that. That just seems too dubious. And to what end? Is it to help "friends" get in lower than any of us. That would imply that success is still eminent. I guess the more basic question is did AMDA cause this or did they allow it? Someone already posted that the 500,000 purchase within the first 15 minutes took the price up to $1.94. So it was moving in the right direction. When the buyer was finished those who have been in control of the SP since last summer resumed their control. I bet we don't get to a million shares today.

What does strike me is that there is no explanation behind the news. I's so matter-of-factly. We got a patent..... crickets.

Isn't the prior year 10K usually released with Q1? So around May 15th at the earliest?

So is our big day coming folks? Could it be one month away? The stars may be lining up or will it be like Waiting for Godot? I too am paying more attention to Zimmer and their activities. It is interesting that they got a downgrade today and their share price is languishing (like ours). Their shareholders must be demanding changes that will result in profitability. Dah!

I've been thinking about something boston posted a few weeks ago; that AMDA seems to have stockpiled their products and only has enough to last through Q2. Why is that? Why aren't they manufacturing more? In the light of having FDA approval recently, having added 14 sales reps last year, the hiring of a hot shot experienced sales management team (from Zimmer nonetheless), and having formed relationships with "several" medical groups last year. Isn't that what they announced in September? Seems strange doesn't it? Unless something REALLY BIG is up!

Then there's this quote from Sonny from the 1/25/18 press release of Amedica Provides Business Updates

"Strategic Direction

"Our strategic priorities are three-fold. The first priority is revenue growth, while controlling expenses, with the goal of financial self-sufficiency. Second, we will continue to investigate the full potential of silicon nitride ceramic and build collaborations with external partners. Third, while we consider ourselves to be a leader in the scientific knowledge of silicon nitride, the company is focused on building a strong portfolio of clinical evidence. Taken together, revenue growth, external collaborations, and clinical validation of our products are necessary to support product acceptance, and long-term sales growth," said B. Sonny Bal, MD, MBA, JD, PhD; Chairman and CEO of Amedica."

Yeah they need Chuck Rhoades on the case. Oh umm I like to watch Billions on Showtime.

Ok so the surge in units implanted, is that from the potentially 5000 units discovered (28,000 to 33,000 total) or something else? I can't follow your numbers exactly but I get the gist of it. Also the monthly burn decrease gives credence to the fact that their financial position continues to improve no matter what some are saying on this board. Of course they may be operating with a skeleton crew on a shoe string budget but that is for a reason right? They are positioning themselves for something major.

Yeah why buy at the ask when the price continues to fall? But is anyone else wildly curious where these shares are coming from? For those that say dilution... come on man we have ascertained that maybe as much as 600,000 or 800,000 shares... we can even say around 1 million shares were from dilution somehow on 3/6/18 with a 9.5 million volume. And we know that the float is the entire Outstanding Shares of 3,073,000 or there about. So where did the 9.5 million and the additional 2,155,196 shares since then come from? I mean really...that's 11.6 million shares in 1 1/2 weeks. Are these the same shares changing hands over and over and over again?

What a trading day for us. Seems like we're having our own Triple Witching Friday. It's interesting that we traded over 200,000 shares in the first two hours and then it slowed down. Still there is a lot of emotions flying around today and so we have comments ranging from get rid of the CEO to this is insiders trying to get their people in on the last day/s before announcing the merger. The fact is that no one really knows what is causing this.

This is also the first time I see boston mention the possibility of the merger being canceled #14306. And that's fine. He's never claimed to having all of the answers. We need to have open conversations and consider all possible outcomes. Let's take our fears and concerns and run with them. Carry them out to their full extent. If the merger is delayed why is that? and how long? What will "I" do? If it is canceled... same questions? Is this the day of capitulation for some? If you sell today what will you regret more, the fact that upon selling you lost 50% to 75% of your money or more (because we know that it's impossible for any long to be up right now), or selling and seeing AMDA later on announce the merger and then you finding yourself without shares?

Until the company announces bad news I don't believe anything has changed and that there is still value here. The trading has been ominous and deliberate. I wonder at what point the SEC investigate it and Nasdaq halt the trading.

Oh and welcome aboard Xenalives. This could be an opportunity of a lifetime for you if you believe it's worth the risk at these prices or just another stock that is too risky and doomed to fail and so you pass.

I've been looking forward to the possibility of hearing a good Q4 2017 report and maybe even seeing a nice bump to the SP. But then I considered the possibility that they won't announce their numbers since so they always seem to delay things like that. Furthermore who would be putting together the results and the FORM 10-Q? There's no CFO.

Exactly! Why can't people see the manipulation that is going on here with the share price? This is far from normal trading. There are no recovery days for the SP. And we don't really know who is behind it. We are getting emotional and losing site of what we think we have; the reasons why we originally invested in AMDA.

Everyone don't overlook the list of questions posted on post #14210. I like this quote from what OMID posted on #14168 from Maxim.

"As we have previously stated, we fundamentally believe that Amedica's silicon nitride product line represents a paradigm shift in the implant industry"

Had they used that language before?

FWIW I don't think there's any connection between today's market activities and any news or event happening today. I could be very wrong though. And as far as the dates of releasing earnings. These press releases are on their website from previous years.

2017 I didn't see anything

March 17, 2016 release of Q4 2015

March 5, 2015 release of Q4 2014 and full year report

March 31, 2014 release of Q4 2013 and full year report

The Failed to Meet Nasdaq compliance has to do with them not holding an annual shareholder meeting right? And we know that the company sent a written response to Nasdaq with their plan to regain compliance. We just don't know what that plan is.

As far as what ZBH should pay to acquire AMDA, I'm with boston. They just need to pay fair value; not more, not less.

You know I've been thinking and thinking about what Sonny did in lowering the price of the warrants, which might remain a mystery to us. But I had this thought: The merger is either on or it isn't. If it is not on would he have made that move? You would think that if Amedica is going to go at it on their own, they would have wanted those warrants exercised at the highest price possible. They're going to need cash. Unless of course they are completely out of money now, then they treated it like going to a pawn shop to get money. But then again if they are going at it alone I would think many other things would be different; Like them getting bigger loans at the beginning of the year, hiring a CFO, and doing a better job at communicating with shareholders and promoting themselves.

So does this shelf offering raise the possibility of them doing stock for stock exchanges for acquisitions? I notice they only have around 200 million outstanding shares.

Wow boston what a find! A $4 billion dollar addressable market. That's incredible. But even though Sonny said (in that transcript) that they would be ready to launch upon FDA approval it sounded like they also need approval for the Silicon Nitride-based device. They must go hand in hand. But that still shows the magnitude of the potential market and I love how he says that AMDA will not be a "one hit wonder" but multiple products will come out of these approvals.

Since we're talking about valuations what about the potential AMDA has on it's own. Since many here take the position that most, if not all, of the business they've done so far has been mostly market testing stuff what can they actually accomplish on their own now that they have this approval? If they've added 14 new sales reps in 2017, 40% increase in surgeon practice, "over 33,000 silicon nitride spinal interbody implants implanted since 2008" 5000 of those in 2017 which may have contributed to around $10 million to earnings. If AMDA did around $20 million for 2017 who is to say they can't double that this year and with a multiple of like 5 wouldn't that be already around $200 million? And I know they are going to need money to grow, which would mean loans or dilution or whatever, but am I way off here? So I know that amount would be way undervalued but still around a $30 share price right? some posters are making it seem like AMDA is fairly valued at 6 million market cap.

There is still a great opportunity to make a big return on your money here. I'm sure you guys have browsed IHUB; checked out other companies here. There is a lot of crap out there; companies with just an idea, not even at proof of concept yet, not to mention a scalable product. Yet those followers are super excited. Look how far along we are here. Pretend you just discovered AMDA today. How excited would you be? And at this price! If you put all of the evidence of the imminent merger (from boston's blog) in a numerical list you'd end up with a long list of facts giving credence to it happening.

1. The LOI
2. The anonymous poster saying it is Zimmer the day before LOI
3. Clinical studies proving the technology works

etc, etc, it's overwhelming

I am enjoying reading the posts this morning; a combination of people venting, expressing their true thoughts and feelings about what happened and about the company while others trying to analyze, breaking it down, considering the possible outcomes. Sonny is not stupid. And part of not being stupid is not doing anything illegal that can get him into a lot trouble and put the company at peril.... Or is he? Lol I'm sorry, I guess I'm also experiencing some cognitive dissonance here.

Good things are coming. We have things to look forward to such as possibly an upside surprise with Q4 earnings in about a week and half. Maybe we'll get a little guidance in the form of new developments for "business as usual" going forward. wink wink. The share price will start to recover.

Oh I see. So it could have just been the fastest and easiest way to raise some capital quickly. I know they need to keep the lights on until the merger but geeze really? It does give the appearance that they are sloppy, non-communicative with shareholders, and/or doing favors for friends. Yes why now? Yesterday's closing price was the "all time low."

When the merger happens we'll all make money and all will be forgiven of Sonny et al.

Yes boston the OS. What will it be now? Since dividing the price ZBH is willing to pay by the OS will determine the per share price. So if 6,000,000 OS now and buyer willing to pay $600 million then it would still be $100 per share right? This is just an example. Don't get excited bears. Those of you padding yourselves on the back today.

Is this C+CsC Lumen the same as the C+CsC composite fusion spinal device that was mentioned in the 11/22/16 press release? If so, notice how long it's taken for the company to get it this point since they mention in that press release that the FDA did not clear their 510(k) premarket application but the company was going to look for a new pathway to bring it back. If so, I agree that we must be very close. If it's not the same thing, I don't remember ever hearing anything else about it.

By the way that 11/22/16 PR introduces Dana Lyons as the new Vice President of Sales and Marketing, listing all of his accolades. It's a very good read. I would encourage people to look at it again and ask yourself why a person like him would leave Zimmer to come to AMDA when his star was rising in the company. Also I found this little excerpt interesting:

Mr. Lyons said: "I am excited to join Amedica at a critical turn-around stage, when the spine market is looking for a new material platform. We can drive the adoption of silicon nitride in the spinal fusion market, where it is the perfect solution for relevant clinical concerns. The unique material attributes of silicon nitride create an ideal choice for spinal fusion surgery."

Good question. I think we just need to look at things at face value and apply Occam's Razor.... the answer is no there is no other explanation; not a simple one.

So they closed it at $2.00 for the first time. The race is on now. What will we get next? News perceived as bad or good news? We are overdue for good news. What will earnings for Q4 bring us on or around 3/19/18?

1. Great news that accompanies the good earnings for the Q.? We'll gap up.

2. Good earnings but muted response; maybe a small bump back to the $3.50 range? maybe

3. Good news but those in control of the SP sell it down anyway?

4. Bad news, an offering, a set back? price tanks more.

Well they finally got it to $2.00 per share. They've been working really hard to get it there. When we say the bears are in control of the SP, it's no understatement. Bastards!

Good observation CL and thanks boston for adding it to your blog. Speaking of the blog I went back to read some of your blog posts starting with the first one from 9/11/17. I specifically wanted a re-read the quotes from the June 8, 2017 Nasdaq article to see the specific language used alluding to Zimmer's future growth coming from "mega-acquisitions." I've been musing whether there is any chance that the tantalizing news Zimmer is promising at the end of Q1 has anything to do with growth in their legacy products only; maybe something new that no one is picking up on. Here is the quote below from that article. Could it be something else? Let me know what you think.

"On a positive note, we look forward to the expected synergy from the recently completed LDR Holding acquisition, which should broaden and complement the company's musculoskeletal offering. This is in line with the strategy to grow through inorganic means by focusing on mega acquisitions.

Management is also striving to develop spine portfolio in order to cash in on the opportunities. Reportedly in the first quarter, Zimmer Biomet saw a 32.1% improvement in Spine and CMF segment. The company's spine offerings such as Mobi-C Cervical Disc prosthesis and Vitality Spinal Fixation System showed a considerable progress in performance.

Zimmer Biomet has been of late working to strengthen its foothold in the emerging markets that provide long-term opportunities. The company's strategic investments in these regions over several quarters with a view to enhance operational and sales performance are yielding results."

Could today be the day with get a Def. S-1 regarding the proposed offering from 2/14/18? Don't these events usually come by fairly close in time? The Pre- and Def-? Of course it could be other after-hours news that will be made to look as bad. My question is where are these shares coming from? If it's not dilution who would be selling right here?

Do you guys think we'll hear anything about the annual shareholder meeting? You know.. rule 5620. The company said they had until February 16, 2018 to present a plan to Nasdaq to regain compliance. That particular date (2/16/18) was one of the three days this month that the SP got hit hard (down 15%). The one month chart looks like steps "walking it down" very orchestrated. And it's happened on low volume. Last week's volume was lower than the week before, which was lower than the week before that, yet the SP has gone down like 30% during time.

I noticed on my TDA account that the projected date for Q4 earning report is 3/19/18. So maybe March will treat us shareholder better than February.

The way I see it, today we complete week 7 of the new year. The high SP reached was $4.09 on 1/2/18 with anticipation of Hercules being gone, and the low.... well that would be today. However it's not time to panic. With 7 weeks gone, we have about 7 more weeks for a resolution. That of course is based on the words from ZBH's CEO telegraphing that something BIG will be announced by their next quarterly results and CC. Either it will involve AMDA or not. If for some strange reason there is further delay past that point, or it becomes clear that there is no merger, then it will be clear to me that AMDA will be going at it alone. Either way don't panic. Know what you own. There is a lot of value in this technology. Don't listen to the naysayers.

Well if it's about taking back control from the shorties, then I like the sound of that. The SP is clearly under attack. I'm tired of watching trades for "1" share or 3 shares, etc, etc. and the paint jobs at the close. 8 MILLION MARKET CAP.. YEAH RIGHT. Isn't that amount below 1x next years earnings?

Yes it is painful to watch. I am a long and I feel the pain with my fellow longs but what are "some" of you doing here? Why do some posters, you know who I'm talking about, keep coming here when things aren't looking that great? To gloat? to rub it in that the merger hasn't happened? What? We don't need you here. You're not part of this family if you're not invested. And as far as to "warn us" or whatever. We don't need you for that either. We're all adults. We make our decisions and we live with them.

Now about this pre S-1 filing. I'm still a believer but I have to question what this is all about. The company officers can't possibly think that the shareholders are willing to vote for something that will likely smack us with dilution and offer no information as to why it's necessary. I like this investment and I'm smart enough to see the dots connected between Zimmer and AMDA, thanks mostly to boston's amazing DD. I want that payout, but come on Sonny this is too much. When is it going to be our turn to be rewarded. Show us something. I won't sell any shares down here and I'm willing to ride them to the end but I won't buy any more shares no matter how low the price gets. I will be very unhappy to see the SP drop below $2 and the OS double, if that happens.

This is my first post, obviously. I've been invested in AMDA since Nov 2016. I've added and added over 13 months until I had no more money to add with. I am very excited about where we are today. It's actually thrilling. And I wanted to thank all of the great posters who have shared information, especially boston745 and CL101. The due diligence provided by them is second to none. I've read thousands of posts of hundreds of companies since the year 2000 here on IHub and no one provides the quality of research, data, fact-finding, and dot-connecting that boston and CL provide.

Like someone else already posted "when" we make our money here on AMDA I'd like to follow boston and CL to other find other winners.... maybe Cannabis or Blockchain companies??? JK. anything.

Happy New Year everyone.