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Why didn’t you react when he accused you of sending him private messages about accumulating shares at these depressed prices?
Seems like an odd accusation and even odder that you let it slide??
Well they’re still playing some wording games with their PRs but not as bad as when Philippe was writing them.
But yes this was the critical step I’ve been waiting for and the FDA was Always going to insist upon before the PMA moves one inch closer to a decision. All part of the major amendment that should have been filed in 2021.
Anyway, hoping for good news from the lab and if the completed PMA is submitted professionally I can’t see any reason this doesn’t get done in 2023.
Similar to the DD that could be taken from Nov 2020 report and most PRs and reports thereafter.
Nov 2020:
The Company has been contacted by several medical technology companies that are active in the surgical equipment and hemostatic products sectors, and who have expressed an interest in the Company’s products and business strategy. In response to these inbound contacts, and to maximize shareholder value, the Company’s board of directors has determined to conduct a review of strategic alternatives, which include, without limitation, identifying an acquisition candidate, joint ventures or other commercial partnerships, or a standalone growth plan. To assist in this review and strategy, the Company is working with a financial advisory firm. There can be no assurances that any specific transaction will occur as a result of this strategic. No assurances can be given that the Company will identify an acquisition or commercialization candidate(s) or complete a transaction.
As we’ve learned from past PRs, they say even less not more. For years posters have tried to “read between the lines” and explain that “pressers aren’t black and white. There’s more grey”
Well that’s great if you are capable of reading between the lines intelligently.
So instead of wild guesses, here’s what the PR states:
Once the Lab report is returned, and if it is positive, UHP will finally submit a FULL (completed) PMA application to the FDA.
That’s it. Nothing else. No hint to buyouts or commercial contracts. No need for grandiose statements with a IMO finisher.
Kettleman, Please read this article if you are interested in the hemostatic market.
https://www.gminsights.com/industry-analysis/hemostasis-products-market?gclid=EAIaIQobChMIgsqQz_TA-wIVljizAB2FtAX_EAAYASAAEgLa1vD_BwE
it is the entire hemostatic (not Hemostyp) market that “could” be worth up to 3 - 5 Billion at some point.
Hemostatic gauze makes up less than 15% of the market. The majority belongs to injectables, sponges, spays, powders and gels and other devices.
So it would take them about 30 years to recoup their 5 Billion ++.
If that’s the math you were suggesting.
J&J gross sales of Surgicel Original are approximately $180 million.
Rodman, please provide details of the $2 offer you referred to Friday.
Reason for what?
That’s incorrect. Check August 19-21 2019 pps.
Just working from memory but we were mid $2s with $ 400 million MC.
Approximately 175,000.
When was $2 per share offered.
Date? Documentation? Purchaser ? please.
Ok DipN. Though there aren’t many acquired companies with $37,000 in sales over 3 years and a pending PMA…Here’s a deal that was was agreed to in principle by two massive companies you may have heard of.
Still not a realistic “comp” as Tachosil has $155 Million in SURGICAL sales but may bring you into the real world. :
2018 “Takeda announced Wednesday it entered into an agreement to divest its TachoSil Fibrin Sealant Patch to Johnson & Johnson subsidiary Ethicon for approximately $400 million in cash, an effort to deleverage its business.
TachoSil, a surgical patch designed to control bleeding, contributed $155 million in net sales to Takeda’s bottom line during the 2018 fiscal year.”
Ultimately the FTC shut down the deal due to competition.
Correction- $1.5 Billion in annual sales.
Dad: hey JR you’re late, where are you?
JR: I’m on my way home.
Dad : that’s good, but where are you?
JR: I’m in the car.
Dad: yes, I realize that, but where are you?
JR: I’m just stuck in a little traffic. It’s not too bad.
Dad: ok. But really, where are you?
JR: alls good Dad, traffics moving again, I better get off the phone and focus on driving. See you in the near future.
Mom: So, when’s JR arriving.
Dad: I have absolutely no idea.
Most CEOs don’t like to announce that they have made their first sales in 3 years.
Especially when they previously announced that they stopped selling Hemostyp in 2018, in order to focus all their collective energy into the PMA which is no further along then it SHOULD have been 18 months ago.
Dec 2020
“As we have made clear all along, we believe that the highest value of our unique technology lies in applications within the “Class III” or human surgical market. We made the decision two years ago to devote our limited capital and manpower to securing an FDA Pre-Market Approval (“PMA”) to sell our HemoStyp cellulose product into the surgical market where the benefits to patients are most impactful and the competitive landscape much narrower.”
There can be No intelligent timeline at this point.
As we have learned we are at the mercy of a PMA submission team that has cut every corner possible to submit a complete file. 18 months ago they claimed to be doing the exact same task they are apparently doing today.
I will always be able to give factual information on FDA but what UHP is actually up to is a mystery to all. Including me.
Pathetic. The FACT that they hadn’t produced test product prior and lead shareholders to believe approval was “imminent “ or “in the near term” speaks volumes about this management team and their PRs. And now they just try to slide it in as typical procedure. This should have started the second they moved to the USA mid approval process.
This is what I meant by “they needed to complete and submit submit a major amendment “ which of course the typical posters refused to believe.
The Fact that they are still “ continu(ing) to assemble required documentation and test its manufacturing process to complete its FDA application” tells a realistic shareholder just how far away the final submission is.
No rational Management team would have EVER submitted a PMA and expected success without doing these things first !
They simply submitted incomplete work so they could continue to say “all required documentation has been submitted “ over and over again.
BTW! Guess the new window of time this opens once the final submission is submitted.
Much shorter answer: inept management.
Outside of Covid, Timelines now and ALWAYS have been held up due to lack of knowledge and cutting corners.
Investor timelines and expectations have been misguided by vague and misleading PRs.
I have warned board about the legitimacy of the PRs for years.
As reference, does this 2020 chairman’s letter to shareholder quote sound familiar to our present situation:
December 15, 2020
“We recently re-engaged with the FDA regarding the original PMA submission…… At the FDA’s request we are now pursuing certain manufacturing related testing and documentation, laboratory validations which are essential to establish our Quality Controls & Standards.”
Then 19 MONTHS later:
“On July 13 the company and its regulatory consultant met with the full FDA team assigned to review its Class III PMA “….
and we conclude that the validation of certain elements of our manufacturing process are necessary to assemble a complete portfolio of information that the FDA can then use to complete its review our PMA application. We will work expeditiously with our manufacturing partner in the coming weeks to accomplish these remaining tasks.”
Why would they need to “run for cover” ?
Pps has consistently gone down for 5 months. Dream situation for taking profits and walking away.
Definitely agree.
I would love to see 3M take a run at this.
I do agree that those of us that have hung on 2 plus years are stuck and really can’t see them selling.
For example, if you bought at $0.10 and didn’t sell through the previous highs(remember 2019 at $2) then why sell now.
And if you bought at $0.70++ that’s just too big of a loss when there is such a good chance of it going beyond those levels.
However, 2022 has been a year in the 0.50s pps and below so I could certainly see a scenario where new 2022 investors are just saying “enough of this uncertainty “ and walking away.
The new pressure on peoples mortgages, lines of credit and just access to cash is enough to cause panic.
That’s not Thom’s Direct line. Simply an info / contact all purpose line for customers etc. listed on UHPs contact page.
This Phone Line is out of Connecticut.
The PO Box is in NV.
Thom works out of NY.
Many layers to this onion.
Looks like Philippe used just vague enough wording to trick you one more time before he goes.
UHP site.
Corporate Headquarters
526 Commerce Circle, Suite 120
Mesquite, NV 89027
Investor & Commercial Contact
info@unitedhealthproductsinc.com
475.755.1005 (phone or text)
If Fred Flintstone wasn’t allowed to moonlight from the rock quarry then neither should Thom.
Mr. Slate would be furious.
Did your research show that he still holds the title of Managing Director at Oberon Securities? Personally, I’m just hoping he’s giving UHP the focus it deserves and is proud to be associated with the company.
His personal online profiles like LinkedIn don’t seem to mention UHP. I’m not a LinkedIn user so i could be wrong - doubtful.
I believe he thought PMA was a slam dunk when he came on board and he’d focus on his specialty of Mergers and Acquisitions. Unfortunately, he like many others, found out this wasn’t the case.
One day I suppose I’ll be wrong, but this isn’t it :) see below.
I agree with your earlier post though. The FDA has no issue with companies sharing clear and accurate updates. Plus, The SEC encourages it.
————
Fall ends Dec 21st.
Lonetree
“Wave, long time ago you predicted action from FDA in the fall. If memory is correct. Are you still on that thought?”
Waverunner
“Definitely.
But UHP has lots work to do for that “action” to be positive.”
Are you able to share what the FDA and SEC discovered based on false accusations forwarded July 25th.
Access to $11 million should help.
Hopefully, they didn’t have to agree to sell the $10M too cheap. But at this point they have to do what’s necessary.
Note, the following does not mean market value:
“Any common stock sold to White Lion will occur at a purchase price derived from the prevailing market prices of the company’s common stock at the time of each sale.”
Likely pps will be something like:
market price - 10% , with max price of 0.35 per share.
It remains the same since the day they moved out of China:
Today’s PR:
“… establishment and inspection of gauze production, drafting of associated documentation, and testing of product to ensure conformance with previous product specifications
March 2022:
“There is nothing the FDA can do until UHP can prove capable of producing hemostyp gauze in the new facility exactly as they used in the human trials. “
Definitely.
But UHP has lots work to do for that “action” to be positive.
More importantly, did the FDA and SEC follow up on the emails you sent them. Did they agree with your accusations? Is there a major investigation into UHP going on right now? How many government agencies are involved?
Quote:
“Was all of this the plan from Johnson & Johnson all along? Did they provide the wolf in sheep's clothing, hoping to stymie UEEC's approval and pick up the assets on the cheap? Why did Brian Thom hire this guy to begin with?
Copies being sent to FDA OIG.
SEC / FINRA
If this was the plan, this post marks the beginning of the end for those in cahoots. I can promise you all that.”
Explain this post please. In what possible scenario would a short need to dump ueec shares to cover?
Refresher post on how shorting works.
Readers, you do understand that he has accused our CEO of corruption and deliberately causing shareholders harm.
This on the heals of the SEC fining our former CEO for fraud.
He also claims to have now sent this information to the FDA and SEC
With no evidence other than a if/maybe/…..
What kind of delays would this cause and absolute bottoming out of pps.
“So not Thom really screwed up” but “Thom deliberately schemed against his own shareholders.”
The only reason Shorts would be “dumping” hundreds of thousands of shares is if they’re predicting they can buy them back in the future at a much lower price. So that wouldn’t be good.
Hence, would a Short not be the one purchasing the shares in order to return them to the original lender?
For example, when the stock went to 0.80 May 13th and demand was unreasonably high, a Short would have borrowed and sold. And now when shares have dropped to 0.40s they buy back and return. Making a $0.3++ return per share.
I typically don’t wade into these shorts/MM debates as they seem to be a common dialog every time the stock goes down, but are never mentioned when the stock goes up.
Now, seeing that I admit to not being an absolute expert on these matters I will finish with the famous JMO.
There is of course the possibility that Perhaps the pps is exactly where the market has naturally taken it.
JMO
First of all, good for UHP for making the donation. That’s awesome.
However, This was not new product. DD below laid out in a fashion much easier to follow below.
Apr 1st 2022
“ In an effort to support the people of Ukraine and those working to defend the country against the Russian invasion, UHP is donating 10,000 units of its HemoStyp hemostatic gauze”
April 1 equipment:
The company notes that its manufacturing equipment remains in good operational condition and is on location at the premises of our FDA-approved contract manufacturing partner. The equipment is ready to become operational in anticipation of an FDA inspection and/or the need to produce HemoStyp material for commercial orders.
April 1 inventory:
in consultation with its auditors, has written off the value of its production equipment and certain work-in-progress inventory due to the extended period of inactivity,
I agree. Doubt they will fire him though. How many shares did UHP pay him?
One of the most overused phrases in UHP PRs has been:
“The FDA has asked for no further information at this time”
Leading readers to believe that everything is complete and next step is the final decision.
However, just because they have submitted information doesn’t mean that information is to FDA standards, or in agreement with FDAs expectations.
UHP has a proven product but this is not going to push them to the start of the line after setbacks.
Time for UHP regulatory consultant to do his job:
“On July 13 the company and its regulatory consultant met with the full FDA team”
“…and we conclude that the validation of certain elements of our manufacturing process are necessary to assemble a complete portfolio of information that the FDA can then use to complete its review our PMA application. “
Link to a PMA supplement completed last week for an established competitor. Every little change has to be documented and approved by FDA. Even for the big boys.
https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpma/pma.cfm?id=N12159S094
Approval To Establish A New Slit And Cutting Room In The Ethicon LLC San Lorenzo, Puerto Rico Manufacturing Facility.