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I believe you were responding to Cryoports 2903 post. I fully expect to keep hearing news and hear that Mr. Stambaugh has continued executing the business plan. There was not much to dissect today. A bit disappointing. Cryo, Larry was definitely pushing to hear some questions today and you could tell he was bit surprised to not hear a single question.
I know Trey did a little update on Cryo available at thesmallcapinvestor.com but I believe he is trying to get together a more comprehensive updated report with an interview of Stambaugh himself.
I appreciate you Cryo.
I can't send PM's I'm on the free subscript.
but....
Tentative amount of initial round of financing other than the registered exempt private offering? multiple institutions?
What are the estimates on the year end 2009 revenues? Over 60 mill?
What are tentative estimates on the demand of shippers to be used monthly? annually?
Where Cryo might setup an initial manufacturing plant? if any?
Regardless, the agreement is signed and it is a step in the right direction. I tried to ask if there was any kind of preliminary milestone timeline but apparently did not get across in time.
Cryoport,
I definitely agree this is a short term deal and not the BIG one but please elaborate on how this agreement was patched as opposed to not being just patched together. Keep in mind we have no track record at this point. It sounds like to me from your posts that larry picked some numbers out of the sky without careful consideration and FedEx said oh well let's go ahead and sign.
You definitely have a grasp on things. I am trying to figure out what you were respectfully disagreeing to? That top paragraph was a direct excerpt from the previous 10K. I hope to hear big news soon!
It was definitely to get the ball rolling. But I have to disagree that the pricing and terms of this commercial agreement were tentatively put together with masking tape. IMO, We really don't have much negotiating leverage at this point so we can take what we can get but not put together on a whim. This was negotiated and as stated by Larry "an important milestone that allows Cryoport and FedEx to offer the service to CRO's and is required". That being said, I agree this is not the BIG announcement we are looking for. Just semantics at this point.
Oh yeah don't mention to the CRO that this was put together with tape.
Nobody was happy with that conference call, I don't know that it did anything but say we will communicate in the future.
It wasn't rushed and it wasn't put together with masking tape it's just preliminary and probably not a BIG deal. Deals through FedEx and cro's don't get put together with masking tape, regardless of the situation.
Webcast was weak and general with regards to what is on the horizon. We have heard what he said, but I am still glad he was willing to do it and COMMUNICATE.
The pricing is set for 1 year and the terms of the agreement are for 1 year. IMO, I don't think this was a rush, I think it is the nature of the first stages. Guaranteed for 1 year with an option to cancel after that. Neither CYRX or FedEx should jump into a locked deal for too long. This will be a big deal when this gets renegotiated in 1 year. Can't wait to listen in today. Is anybody dialing in to participate?
As of June 27, 2008 there were outstanding stock options and warrants to purchase up to 29,603,815 shares of the Company’s common stock. The outstanding options and warrants were issued by the Company in connection with various debt and equity financings and compensation agreements. These options and warrants are exercisable at prices ranging from $0.04 to $3.25 per share, with a weighted average exercise price of $0.51 per share, and have expiration dates ranging from February 28, 2009 to May 18, 2019.
This has gone up as well. Tomorrow should be a VERY interesting conversation. This is very exciting and I commend our outstanding CEO Mr. Larry Stambaugh, he has taken charge and is conducting this train with great efficiency!
Great! The releases should keep coming! COMMERCIAL agreement SIGNED! This ball is officially rolling and it should be very interesting next few days, weeks, months!
GLTA
You can find it on the SEC website and a link in my post. It is a notice of a $1MM private offering of debt, warrants, etc. with a minimum investment of $10M. The first sale was on 3-31-2009 and they had 15 days to file from then.
Larry Stambaugh doing work
GLTA
We will know if he sold those shares, as you stated there would be a filing, but I would imagine that he wouldn't be able to sell or that he would want to because of his knowledge regarding ongoing negotiations with clients.
I absolutely agree with you on the price action and we should be higher and there were a lot shares handed out in the past. There is currently a better amount of upside pressure than there has been in about a year.
They were probably promised for compensation, or something of that sort.
http://www.sec.gov/Archives/edgar/data/1124524/000101968709001685/xslF345X03/edgar.xml
I hope you are wrong too!
I agree they file late (Last day to file for them)
They have filed their 10Q's (quarterly), 10K's(annual), or a notice of late filing virtually on the same day for the past 3 years or so, that is why I thought it would be around June 30, but who knows maybe stambaugh is whipping them into shape right now.
Breakdown of filings
10 Q 2009-02-17
10 Q 2008-11-14
10 Q 2008-08-14
10 K 2008-06-30
10 Q 2008-02-14
10 Q 2007-11-14 NT
10 Q 2007-08-14
10 K 2007-06-29 NT
10 Q 2007-02-14
10 Q 2006-11-14
10 Q 2006-08-14
10 K 2006-06-28
10 Q 2006-02-13
10 Q 2005-11-14 NT
Fiscal Year End for CYRX is March 31, they generally file 10K (4th Quarter Numbers) June 30. I still can't imagine that we do not here something by May 15th.
Well I thought you might settle down for more than one day. My advice would be to not watch it every day, you will give your self an ulcer. I dont know what you expect to get from your post? If you think something is a miss then sell but, I wouldn't worry, Stambaugh just called me and said there would be a release next wednesday and we will go to $3 at 9:23 a.m.
I think we are pretty much golden. Some exerts on equity financing.
http://www.thedeal.com/dealscape/2009/04/private_equity_fund_raising_sp.php
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090420005525&newsLang=en
This is an exert from the second link.
"In this difficult economic environment, our investment criteria limit us to choosing companies with a clear technological edge over their competitors," said Firas Abi-Nassif, director of tech and telecom investments at Vision Capital Advisors LLC. "Their solutions must be essential to lowering costs and increasing productivity for their customers, as this provides those companies a financial advantage which offers strong protection against further deterioration in the market.
And you all have probably already ready this but for those who have not, it gives an idea of general range of investments and timeliness of receiving capital once terms are signed.
http://www.visicap.com/advantages.htm
I thought they did a pretty good job of answering your question with some tech and a bit of fundamental as to why or stock price is at it's current level.
I agree with you the transparency has been an issue, but there are things we do KNOW about our current debt obligations and future financing. There were two very important SEC filings regarding Cryoports ongoing operations that I hope you have read (2/25 and 4/13).
There has been trust issues in the past and there still may be some skepticism but do think Roswell would restructure a 4th time if they did not trust Stambaugh?
Sage, I believe BOD and tiger answered your question regarding friends and family investors of companies related to cryoport. I don't think that this should be much of a concern. This is not the group of investors that would take us to $0 or better yet through $1, $3 or $5 or possibly further. The main concern for long-term investors in CYRX is
1. Financing (Probably done now but more to come)
2. Sales, Revenue
and...3. Exponential growth of 1 and 2 then it gets fun breaking down future free cash flows, current cash conversion cycles, and changes to capital structures.Fruition
These are the things that are going to fat paper stacks in my pocket as well as yours.
As always keeping my eye on the future and GLTA
Coachc.....
"I guess each day that passes without news and we are not "broke" is a good day" No doubt!
but I think you may failed to see the implications of a new CEO coming in especially Stambaugh. When he stepped in it changed the face of CYRX and it said to me that we are not going broke. The filing clearly states that there is a transaction in the works or already done with Vision Capital and it also states that we are probably raising more money with other players, so it is only a matter of time until we here something about moving forward.
Stock price predicitons are great and purely for discussion purposes, I would much rather hear HYPE than pessimism and makes for more motivation for me to research further and think outside the box.
GLTA
I love it. Anytime the SP drops a little here comes sageman and coachc running...My realistic guess is that FedEx and Quest business is not NEW, this has been in the works for at least a year. As far as the Financing companies...THis is confidential, plus unless you dig around for SEC filings, you wouldn't even know we are working with a new investment bank. There still has been no releases....but there will.
Absolutely. These are results of a slowing economy and this has in turn slowed our progress. I'm sure our potential clients had to get into mitigate mode and look out for themselves before they could proceed with any kind of new endeavors.
On the economic side, next week’s data calendar is oriented toward demand, specifically demand for big ticket items; houses and durable goods (those with a lifetime of three years or more). There are no Treasury coupons to be issued this week, but two Federal Reserve buy-backs are scheduled. Beginning the last week of April, the supply-demand dynamics will change with a heavy new issuance calendar. Scheduled Fedspeak is limited in the final full week before the April 28th-29th FOMC meeting.
Monday Leading Economic Indicators
Thursday Weekly Jobless Claims, Existing Home Sales
Friday Durable Goods Orders, New Home Sales
"It was exactly the same a year ago... speculating how we were going to close the year 2008 and what price we were going to be at and everyone threw out their "WAGS" from $1-$5 etc."
Please coach forgive everyone for discussing on a discussion board.
"This board is doing the same thing over and over again and expecting different results"
If you don't like what people post on the board, then DON'T COME TO THE BOARD. At least try to bring something instead of bashing everyone for posting about wag's and speculation. Everyone does it and it is precisely what discussion boards are setup to do.
Definitely. Looks like we will be attaining some capital through VCA and from the looks of their investment team they have people from all over and all look to be well qualified.
http://www.visicap.com/
I'm seeing:
Bid
UBSS 5,000 @ .47
NITE 5,000 @ .465
ABLE 5,000 @ .45
Ask
UBSS 5,000 @ .49
ABLE 5,000 @ .50
HDSN 5,000 @ .50
NITE 5,000 @ .50
Tiger, I liked your story about the kid. Reminds me of trading.(Locking in profits and not going for greed) You are spot on about the market and wild intraday swings, I have been able to lock in a good grip of quarters over the last couple of weeks with DRYS. That company swings almost 15% daily.
I have to agree with bust that the broader market has not had much of an impact on CYRX, with regards to the latest price action and that it is due to rumors we are getting close to financing and deals. The volume and price appreciation has been very encouraging and I'm sure all of us have been displaying restrained jubilence as we wait to see inked signatures. I got to think with this kind of action we see news sometime over the next 2 weeks.
GLTA
They have plenty of reach, it would be nice to get em.
http://www.pr-inside.com/quintiles-global-central-laboratory-network-r1111838.htm
you crazy motherfalconer...great post and the update on your party. Spiro is doing good things. Cheers
GLTA
Bringing in a new high profile CEO does not change the fact that current financing deals and contracts are confidential. Apparently nothing has been inked otherwise we all would know. I am going down with ship (so to speak) as well, but I have an inclination this ship is not going down. Don't know if anybody has listened or cares but this is the link for the Quest presentation at the Barclay's Capital Global Healthcare Conference. There is no shout outs to Cryoport but it is pretty interesting. It's clear to me that the service CYRX offers fits right in with what they are trying to do such as expand globally and improve operating efficiencies.
http://cc.talkpoint.com/barc002/030909a_rb/?entity=104_3J1C75N
So many people jumping ship.....I think I'm with Chudd on this one. As far as Larry is concerned. I googled him and I'm sure as many of you know he has his own website.LOL If it's him and I think it is.
http://www.larrystambaugh.com/
Hs, I think you are absoluetly right with regards to a deal still being in the works. IMO people who scooped up sub .40 shares got a great deal this morning.
Cryoport is too far along to just go bankrupt because they are low on capital. I've been assured numerous things are in the works for Cryoport and slow moving confidential deals are the reason for silence, but nothing has been completly finalized to be put in a release. IMO, 2 months should give us plenty of time to gin something up for progress.
I don't think this has much affect on CYRX. I have stated before that I believe overall market is hurting as GM and Chrysler had to tap federal rescue funds and Allstate also soured investor optimism as it reported its first unprofitable year as a public company and it will get worse. BUT, the players we are dealing with are still maintaining good business with respect to other sectors. IMO the fate of Cryoport depends largely on it's management team ability to secure deals with names they have been releasing and selling themselves to these big corporations. Obviously if we see growing revenue in 2009 we will not be at .41 and that is a fact, no matter how the market is performing.
The market may be disappointed in the proportions of the funds
targeted at the economy and job creation versus that targeted at furthering a political agenda and extending the reach of the government across the economy by reshaping policy on energy, education, health care and social programs.
The main take-away from the statement yesterday was the FOMC (1) continues to expect to maintain the near zero fed
Funds rate for a while, (2) view the economy as still weaker, (3) are worried that inflation may be lower than desired, and (4) will employ all available tools to promote the resumption of sustainable economic growth and price stability including, if necessary, buying longer-term Treasury securities to lower market rates to improve conditions in the private credit markets. It also re-focused the Treasury market on supply, especially with the realization of much more to come to fund the final version of the stimulus program and more than likely the “bad bank” plan that is being kicked around in Washington this week with the promise of more details next week.
I didn’t read through the whole transcript but just glancing at a few pages I took these direct quotes by the President, CEO of Quest Diagnostics from the Q4 2008 Earnings Call Transcript
“We are in a recession while the rate of our growth could temporarily slow as a result of external economic factors; we expect continued growth in revenues and earnings.”
“We are expanding into new markets and geographies to provide longer-term growth opportunities”
This is direct evidence that this sector is relatively insulated from the financial meltdown and current economic conditions. Business will and must go on regardless of a recession.
“We will grow earnings through top line growth combined with further improvements in operating efficiencies.”
Cryoport is happy to help Quest with their goal for improving operating efficiencies.
GLTA