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Considering how high the executive salaries are at Navidea, they shouldn't need to hire anyone else to get the job done that they themselves neglected well before Lymphoseek even got approval. How insulting to shareholders that the company only now addresses poor Lymphoseek sales with the hire of more staff.
I have already stated that layoffs are more than called for, and here the company goes spending more money.
Wonderful.
Wonderful! 1.62 today. Maybe the company should have put out the PR on their new Manocept business unit 2 months earlier (October 15th) and then released no further news in a timely way - I bet they could have got the price back under 1.00 by now. It has been two weeks. The run is over and no further forthcoming news is to blame, not the shorts. Maybe tomorrow the company can release a PR that says "WE HAVE ERADICATED CANCER AND ALL DISEASE" and then followup on Wednesday with, "JUST KIDDING!"
Just maybe, the company has a PR planned for Friday 1/2 to start 2015 off right. A MAJOR PR on January 2nd that specified a Manocept partner would be most welcome. But the longer it takes, the less reason there was for the company to say anything about the new Manocept unit on 12/15. In fact, a new CFO with a functioning unit between his ears would also be most welcome. This PR I am especially looking for day and night. Larson is not up to handling a billion dollar company if that is where Navidea is headed.
Rick Gonzalez - Just how much do you want to see a 2.50+ stock price? Brent Larson might as well be wearing a target...
NAVB is showing a surprising amount of strength in this range. It didn't look like we would ever see 1.40 again when the stock was trading between 1.35 and 1.39 (and even lower after this range once the Q3 sales were released coupled with more than $500K in unused Lymphoseek waste).
Now, the shorts do not seem able to knock the pps back even a few cents. NAVB buyers are present and in force - seems like institutional buying when all is said and done.
Equities0099 on IV seems to be hinting that the shorts know something and that is why they continue to short heavily. He walks an interesting tight rope between basher and long. What the shorts know (and we all know) is that every penny of NAVB share price increase we see from here on out, the shorts are set back another $317,896 since the total short interest is 31,789,569 shares, making Navidea one of the most shorted stocks in the entire market at present. As others have repeatedly said, with so many pipeline products making the chances for one big success so large for Navidea, aren't there other stocks that would be better choices to short?
Manocept came along well after the shorts began their pounding away tradition, so it is not logical to assume or believe that the shorts know anything negative about Manocept. Others have said the shorts were caught off guard with recent developments...Indeed.
My predicted range for NAVB tomorrow is a low of 1.93 (in the first 30 minutes of trading) and a high of 2.05 (somewhere around noon) - we keep seeing higher highs and higher lows day after day...I bet the shorts don't like that.
GLTA.
Has anyone checked the short shares available for new shorting? If longs are serious about seeing this run continue, one thought is for them to STOP lending shares out to be shorted. FORCE the SQUEEZE!
Yup and yup. How awful it must be for the shorts to have to deal with a strong NAVB again.
Sheff and his boys have really missed the boat on NAVB's turnaround. His board has still not mentioned NAVB in many weeks.
From the trading I saw Friday, it sure looked like there was some aggressive shorting met by even more aggressive buying, at least until the end of the day as the pps settled into the low 1.80s. If Manocept eventually makes Navidea worth $700 million-$3 billion, then the share price will be a bargain ANYWHERE under $6!
FWIW, I am expecting a return the the high 1.80s and a visit to the low 1.90s this coming week. Thje only reason we didn't see 1.80+ following Monday's news and stock halting was the apparent millions of shares shorted to try to cap the news. UH OH FOR THEM!
Bottom line, minimal short covering seems to be what we are seeing and instead, millions of new short shares have been futilely wasted between 1.30 and 1.75. Indeed, it looks more and more like they are up to their old tricks of shorting to try to limit the pps. It does not appear to be working as NAVB is moving up DAY AFTER DAY which is obviously a great sign.
YES, I have been outspoken and negative at times with this company folks over all of 2014. But at present, it sure seems like the whole game has changed overnight and there is a momentum in place that will keep the trend gradually continuing upward as Manocept unfolds (and this a very bad time to be short accordingly). For the first time in 2014, shareholders can be proud of their holdings here.
Is more news imminent? Sure seems like it! And aside from Manocept, 4694 and 5001 could also be bringing food to the table sometime soon. :)
Nice post johan.
I'm not convinced there is much short covering yet, if any. And if they are covering now, it highlights how foolish they were to wait until now. When the pps sees 2.00, there will still be at least 22 million shares short...so much the better.
If breakthrough news comes before the short interest gets below 20 million shares, short covering alone could vault NAVB WELL ABOVE AND BEYOND its real value even with the breakthrough news...think about that everyone! Breakthrough news could make the company instantly worth $700 million and a share price of $4.64. The shorts would have to cover on the spot and the pps could easily rise 3.00 beyond the 4.64 to 7.64 from all the covering.
I wish there was a way to know the overall short interest cost basis. For instance, is 2.31 the break even point for the shorts or is it even higher because of shorting from years ago when the pps was 3.50 and 4.50?
All I know is that days like today BETTER scare the F**K out of ALL SHORTS! We were up .16 today without news. It has been a while since we have seen such a day...and the shorts are now in a much worse position than they were with the pps at 1.25.
At .50 higher, they are $13,000,000 less rich than they are now. May they see no mercy whatsoblanking ever!
If what you are saying is true, that an IPO would crush the shorts, then the best proof we will ever get that the company is on the up and up WILL BE WHEN THE COMPANY CRUSHES THE SHORTS WITH ONE OR MORE IPOs.
IF THEY NEVER DO AN IPO then it is obvious there is a deliberate destruction of the share price from within because frankly, I'm sick and tired of the BS. It's time for the company to fix the share price mess they started with the Crede deal and ruined the pps further with poor quarterly sales, severance bonuses, and wasted Lymphoseek inventory.
If I was an honest member of the Navidea management team who had no illegal connection to the shorting of NAVB stock, I would be so EXTREMELY insulted with the outrageously high short interest that I would work triple time to slam it in the shorts arses as fast as I could.
With the current float, NAVB would be an $8 stock if the company market cap was $1 billion. Manocept seems not to concern the shorts at all...yet.
My hammer is great (made of hardened steel), BUT I have been so angry for more than a year that I just might break the "unbreakable" hammer as I smash it across their faces...and that goes for the arses at Crede too.
I want the shorts heads to come off their bodies TODAY. Can we close above 2.00 and never again be under 2.00? This would kill them on the spot.
They were greedy and foolish. They tortured all of us over the past 13 months and are hopefully about to get their just desserts. If I knew where they are and could come up behind them with a hammer as they sit at their computers as they will soon try to hold us back today, I would bash their computers and then their skulls again and again and again and again - and I'd have numerous backup hammers with me just in case I broke the first one.
Enjoy the ride gentlemen.
The way DDbuyer is posting tonight, maybe my guess of a high at 1.75 is too low. Fine by me. It's about F time this company started to act like they give a F about the shareholder.
Surprisingly, Sheff has not mentioned NAVB at all over the weekend and he didn't mention it Friday either. He and his boys missed the boat - unusual for him.
May the shorts get their arses ripped the F apart daily until the entire short position is covered and the pps is 5.00 or better. Maybe we gap up at the open AND gap up during/after the presentation tomorrow. 2.00+ by noon? Again, fine by me...It's about F time!
Perhaps, the spinoff will be formally announced tomorrow and just how many shares WE will get. I'd still like to see around $50 million of stock of the spinoff distributed proportionally to NAVB shareholders if the initial value of the spinoff is $150 million.
Crede may have shorted millions of shares very recently when the pps hit .97...What was the benefit of doing that when the direction is higher now? I want Crede to also get their arse ripped the F apart on their next dozen offerings and certainly with NAVB if such is possible...
GLTA.
All I know is that everyday that NAVB moves up 0.21 like today, the collective short interest loses $6 million that they were up the day before. If Manocept pans out, the shorts could easily drive NAVB above 4.00 quickly.
Maybe longs will wise up and stop loaning their shares out to be shorted.
Anyone have any realistic idea when the first spinoff is most likely? I say by the end of Q1 2015.
Heck, if there are 2 spinoffs when all is said and done, the increase in shareholder value could be enormous from the IPO shares distributed to NAVB shareholders and increases in the pps to NAVB itself as the parent company. Clearly though, Brent Larson is not the man for the job of CFO for Navidea any longer.
Any idea what percent of the spinoff shares will go to existing NAVB shareholders? 30% would be nice.
Anyone care to guess at the initial market cap of the first Manocept spinoff company? I see no reason it won't be at least $100 million.
Anyone else think NAVB could hit 1.75 Monday?
What a difference a day makes. Lymphoseek approvals saw the pps go down. Today was one of the best increases in more than a year. Go figure.
GLTA.
From the 12/10/14 release:
"Current board members Michael M. Goldberg, M.D. and Eric K. Rowinsky, M.D. and Navidea’s Chief Scientific Officer, Frederick O. Cope, Ph.D. have been appointed to focus on the launch of the new unit."
I am quite pleased that Brent Larson's name is not mentioned among these three that are directly involved in Manocept...
This is great to see, and I expect further upward momentum on Monday.
BUT it is also woefully overdue. We are a helluva long ways from the 2.85 preCrede deal pps. Period.
GLTA.
Let the good Lord hear you about a monster short squeeze, but as usual, when things seem to be looking up, the shorts only get more aggressive - not conservative. I still won't be surprised if someday we find out that Brent Larson is involved in illegal short activity with Navidea.
The higher the short interest gets, the more management could break the shorts necks...all it will take is a major breakthrough...yet the shorts here act as if they have been privately reassured that Navidea is never going anywhere, period. If I was a short here, today's news would greatly concern me.
Once the short interest exceeds the float, we'll have real confirmation that something is wrong. LOL.
IF there is a spinoff, and IF shares of the new company are rightfully given to NAVB shareholders, it would be nice to see at least 15% of the initial float of the spinoff shares distributed to NAVB shareholders. The higher the number of shares in the Manocept float, the closer to a 1:1 ratio we could see, but I expect (and farking frankly demand) at least 1 spinoff share for every 8 NAVB share owned.
Super high volume today, and only downward movement...Is the market still completely disinterested in Manocept like it seems, or will it take a while?
Short interest is up huge as well. WTF is going on? Oh, Brent?! Anybody home?!
The Investor Village board is buzzing enormously over Manocept all of a sudden and DDbuyer led the charge with 6 consecutive messages. The shorts on the other hand (and the share price) seem to have overlooked Manocept altogether. Has Brent Larson already assured the shorts of the first 10 failure PRs related to Manocept? Nothing would surprise me.
The quality of the terms of the partnership for Navidea is far more significant than just getting partnerships and announcing them. So far, the two partnerships that have been announced have been insignificant as far as the future profit for Navidea to come from them and the market made such very clear. If future partnership announcements have a similar minimal cash up front to Navidea (or even cost Navidea money up front like one partnership did) coupled with an insignificant amount of the product sale revenue staying with Navidea, partnerships will not turn the disgusting share price around. A partnership with a major pharmaceutical is likely all that will ever matter...
And all of this recent talk about the company now starting to educate doctors about Lymphoseek is beyond infuriating. Pykett, Tulip, and Larson collectively earned well over $1 million in 2012, 2013, and 2014 YET THEY ALLOWED LYMPHOSEEK SALES TO BE SO MINIMAL?
I again maintain that salary cuts for 2015 are more than called for UNTIL AND UNLESS Lymphoseek sales DRASTICALLY IMPROVE!
I absolutely agree with the spirit of your post - news is due on multiple fronts. Just maybe, something huge (and way overdue) will be announced tomorrow.
One sad possibility though, which I am leaning toward as the day progresses, is that with a pps today inching back toward 1.22, nothing of new substance is coming, as the company itself has already told investors that matter to the company (versus the rest of us) and some dumping is already happening. After all, whenever good news is coming, NAVB moves up for seemingly no reason until we see the news - and then we see a few posts about leaks at Navidea. I am more convinced than ever at this point, we are all in for another let down tomorrow.
Brent - do you give a damn about Julia?
Excellent post...The main update we need is that the company has corrected their failing strategy for marketing Lymphoseek (which in reality has proven to be that there never was any formal strategy). I want specific distributors to be named for how the product will sell in Europe. I also want to hear that the increase in price is expected to increase guidance and that Cardinal Health is planning to do X, Y, and Z YESTERDAY to demonstrate that they are at long last working to sell Lymphoseek.
Partnership news and pipeline progress would be wonderful, but this company would never dream of doing two right things at once. Kicking shareholders in the face is always top priority.
And to be sure, all I'm really expecting to see (though I demand much more) we will get no real update on anything that is positive. Instead, we will hear the same old same old about Lymposeeks many approvals (while the company ignores and intentionally neglects selling it).
Larson gets terminated? :) THAT would be a most welcome update.
A letter from Ray Leonard to shareholders...
Greetings fellow HDY shareholders.
I started reading the HDY message boards again recently, and have even taken a few phone calls in between vacation planning and my daily golf games. It seems as though many of you want to hear from me, so, here goes:
I want to take a minute to thank all of you for lining my pocket now and into the next decade. My upper 6-figure salary will continue, despite the fact that not a single drop of commercial oil has been found with me (or anyone else) in the history of this company. With the next five share offerings to come, my financial future is looking brighter than ever, regardless of company failings and oil prices declining. My incompetence really pays, that is, it really pays ME! Thanks again for the huge salary despite the continual mess ups, silent months on end, and guaranteed failings on my part. Maybe I should replace Obama in 2016! I can't do any worse as the US President than I did as CEO of Hyperdynamics! LOL.
Thanks again.
Always.
Ray
Maybe the investor update this week will be a tremendous positive surprise (partnership update/new grant money/pipeline development moving forward).
If it is not, our pps will likely decline further and such will be UNACCEPTABLE. Hopefully, Gonzalez knows this and is having the update FOR A DAMN GOOD REASON.
The ONLY problem in getting rid of Larson and Tulip is that it will likely cost at least $1 million in total severance between these two chuckleheads. If they can be terminated with no severance, the pps should respond nicely.
And fwiw, their positions SHOULD NOT be filled immediately. Instead, let Gonzalez work triple time for his salary and get the company on the right track for 2015. So far though, it is looking like 2015 will be even worse than 2014.
Ray Leonard deserves to be publicly beaten for days and then dragged face first behind a car moving at 75MPH.
I guess the shareholder cocktail party is off this year. May all shareholders SUE RAY LEONARD PERSONALLY and TAKE THE SHIRT RIGHT OFF HIS BACK...and then skin him alive.
What happened here is beyond disgusting. What I propose is moderate.
In calendar year 2014, NAVB has only traded at or above a 2.00 pps for 23 days...and one has to go way back to January, February, and March 2014 to see it. It was a whopping 2.12 (March 18th) that the stock topped out at in 2014. We only saw one insider buy of 100,000 shares when the pps was smacked under a dollar a few weeks ago. Of course, Brent Larson bought none.
CONCLUSION: Numerous rude surprises await the NAVB investor in 2015, STARTING with the Q4 report for 2014. How ridiculous for the company to issue guidance of $5-6 million for revenues in 2014 and then turn around and lower it only a few months later. Whatever they offer in guidance for 2015, their reputation is already damaged from changing the 2014 forecast.
Maybe we'll hear of another GE style loan with high interest and fees that will never by used, but can serve to drain precious capital instead! For only $4 million dollars up front in fees, the company can have a new line of credit available of $14 million. Sounds reasonavbe to me!
Maybe we'll hear of a 50,000,000 share offering at .72 to a firm like Cornell Capital.
MAJOR MANAGEMENT changes still need to be made, and AN SEC INVESTIGATION is MORE THAN CALLED FOR HERE! Mandatory layoffs are absolutely called for here. The company has one product they can't (or won't) sell...THEY DO NOT NEED 46 people to lay around with their thumbs up their behinds!
SALARY REDUCTIONS OF AT LEAST 50% FOR TULIP AND LARSON ARE A MUST, unless of course, the company is smart enough to get rid of these two outright with no severance. I can dream anyways...I'll never understand the restraint of Oldtimers at shareholder meetings and the fact that Tulip, Larson, and all other executives walk away from the meetings unharmed.
Navidea will never get rid of Brent Larson. To do so, would probably increase the share price by .20 in one day - and THIS COMPANY with its Crede deals, GE loans, wasted Lymphoseek inventory, ridiculous bonuses, and dozens of more rude surprises in store for shareholders in 2015, has PROVEN that they have no interest in moving the share price up. Instead, Navidea has set up one of the best scams in stock history:
Get a product FDA approved, BUT NEVER INTEND TO REALLY SELL IT and screw up intentionally over and over and over!
Why sell the European cold kits for $100 if people are willing to pay $20?
The next share offering will need to be at least 40,000,000 shares with a pps so low.
Fred is a short seller of NAVB stock that is great friends with Brent Larson. The following message is an email from Brent to Fred.
Hey Fred.
I know you were disappointed that the European Lymphoseek Cold Kits will be selling in Europe for $100. I tried to get Gonzalez to approve the selling price to be $30. We really slammed it to the shareholder going with Cardinal to sell our $300 product by giving them $150 for each dose. Too bad we didn't make it $225 to Cardinal/$75 to Navidea. You may recall that in the US, I wanted to sell Lymphoseek for $140 per dose, but Pykett was afraid that even the SEC might investigate why we sold a newly approved product for so little. The vouchers did some damage to the stock price, but not enough. Speaking for myself, I can't wait for the pps to slide under 1.00 again because I'm already drafting several PRs to keep it under 1.00 forever, and only continue to fall to our desired covering range. RIGS is going to be formally abandoned first (you knew it 6 years ago of course and were able to short confidently no matter how high or low the NAVB pps got). To really ruin loyal shareholders, you also already know that 4694 and 5001 are due to be formally abandoned in
February simultaneously. This coming PR will reveal that the Crede deal was really for nothing EXCEPT to damage the shareprice. Hopefully the NAVB death spiral will be super severe and you can cover your 12.4 million share short position under 0.29 per share.
Thanks for the $3.7 million I have already been paid to destroy the company that is stupid enough to pay me $250K annually plus bonuses. I look forward the the remaining $4.9 million installment. When the company completely evaporates in a few years, I have $400 per week in unemployment to look forward to as well. I know the current pps of 1.25 is way too high, but just give it time and keep shorting. Our pps will stay under 1.00 and then .50 soon enough.
Life is great for those that know the reality of Navidea.
Always,
Brent
There is anger surrounding NAVB. Shareholders are angry that the stock is still down 56% since the Crede deal (2.85 to 1.25).
Brent Larson is angry that the stock has rebounded from the ridiculous disgusting low of 0.97 to 1.27.
Not much to be happy about with European Cold Kits selling for $100 and only then 10 months from now.
I like the sound of Tulip and Larson salary cuts AGAIN FOR NEXT YEAR (BUT MUCH DEEPER)!
The European cold kits will be selling for $100. How in the F@@@ will this ever amount to even $1 million annually in Europe? Will Navidea see total revenue in 2015 of $10 million? Seems unlikely...
Response and comment is cordially invited.
European Approval today and no one cares...great!
Enormous salary reductions for Tulip and Larson are more than called for in 2015 since I know full well they will never be terminated.
With our luck though, half million dollar bonus for ALL Navidea employees are the most likely PR tomorrow.
After all, such a ridiculous waste of financial resources would fill Tulip and Larson's pockets AND give the shorts another crack at miring NAVB under 1.00.
Wonderful.
Thanks for your response to my post inside...I agree that the company may surprise us with an upside to the Q4 numbers...And if we see a further decline, God help them.
The best upside PR I can imagine would read as follows:
December 1, 2014
MEDICAL NEWS TODAY
"Larson terminated by Navidea for cause"
After more than a decade of financial missteps and financial chaos at Navidea (formerly Neoprobe) the BOD has decided to terminate CFO Brent Larson immediately. The termination is with cause and because of such, no severance bonus like the $750K that Mark Pykett received earlier in the year will be paid. "Under no circumstances will this company feed the Brent Larson family any longer. He has destroyed shareholder value in excess of $175 million and has worked against the company's objectives repeatedly to the extent that the company plans to fight his ability to even collect unemployment insurance from the state of Ohio." said current CEO Rick Gonzalez. Gonzalez went on to say, "The Navidea shareholder has been abused and mistreated since the Crede deal. The company is intent on fixing this disgrace and is presently talking with three major pharmaceuticals that are each showing major interest in partnering with Navidea on our Manocept platform."
If this PR couldn't move the pps, nothing could!
GLTA.
Maybe a Manocept trial is about to be announced...of course, Brent Larson has not bought any stock.
100,000 shares bought by Gonzalez is no small buy...
Is there a Manocept partner coming with a large pharmaceutical?
Are the shorts covering?
Are NEW or OLD institutions loading up?
Is a 4694 or 5001 partner coming?
Is a buyout coming?
This high volume (without news) and following very poor Q3 sales is puzzling in a pleasant way.
We know Q4 sales are not going to be great AND we know that EU approval means very little without sales to go with it.
Nice post boo. Bark bark. LOL.
I posted not too long ago that Montaur has the financial resources to move this stock up anytime they want to. With the nice volume we have been seeing simultaneously with a rise in pps back toward 1.20+, someone is sure buying...and if it is PM, I have no doubt that they aren't done buying yet. PM is in the fortunate position to be currently reinvesting the many millions of dollars they made on this stock when they sold on the way up to 5.00 and beyond.
And regardless of who is buying, the shorts better be thinking of doing some covering. Remember, the volume had dried up to barely a trickle right before we got the Q3 earnings report...
.97 didn't last long. See you again soon at 1.35? Never thought I'd like that pps for this stock.
GLTA.
Platinum may indeed want NAVB to move up in share price. And DDbuyer has convinced me that Cardinal Health is perhaps one of the biggest problems the company presently has, next to Tulip and Larson.
It seems as if the biggest shorts had knowledge of just how little Cardinal Health would do to sell Lymphoseek. And Larson knows how little Navidea is doing to promote the product as well. Put those two realities together and we have multiple years of poor quarterly reports ahead.
I think we have seen some real short covering over the past 2 days, but there is still a ton to go.
Tick tock, Rick. Can we sue Cardinal Health for poor performance and/or deliberately harming the company? Well worth asking out loud...
If Platinum is sooooo willing to let Navidea use the remaining $31.8 million line of credit, THEN WHY THE F*** was the Crede deal EVER necessary?
All of this adds up to the company willingly destroying itself. The Platinum line of credit has ALWAYS been there, yet we also needed to pay high fees and interest just to have GE money available as well THAT WE NEVER USED? WTF is going on here?
I recall posting weeks ago that Brent Larson is already counting his unemployment compensation to come $400 weekly (probably 2-3 years from now unless he is terminated sooner)...Now I'm more convinced than ever. Is bankruptcy less than 12 months away?
The company needs to layoff 25% of their staff and cut the pay of the top 10 company executives for 2015. If company performance AND STOCK PRICE improve, then additional salary could be EARNED. Otherwise, I see no reason for anyone except Gonzalez to be earning above $100K at present...The company is failing THANKS TO OVERPAID EXECUTIVES!
Tick tock.
I love the way you see rainbows in hurricanes BooDog...this company has much work to do and many angry investors that they could care less about. From where I'm sitting, this stock will be likely trading solidly under 1.00 within days or weeks (.75-.80 maybe) and will likely struggle to see 1.30 in 2015 at all. And for that matter, without substantial Manocept success, 1.30 may never even happen ever again. I sure as hell want to be wrong, but we have raped and abused by Pykett, Tulip, and Larson and a no name CEO like Gonzalez does not inspire much hope on my part now...I do not see the shorts covering at 1.00 - THEY SEEM TO KNOW (thanks to Larson) that the WORST is YET TO COME. Hell, if Manocept was worth a F**K, the shorts could cover and go long and make a fortune in both directions, BUT WHY SHOULD THEY BUY when our mismanagement team is not even buying at this level?
EU approval means less than ever if the company cannot sell the product...
The pipeline means nothing if it is being shelved or suddered or whatever the hell is going on...
WHERE is the jail cell for these mismanaging F**Ks?