Gone from iHub.
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Excellent idea pointing it on the row with the quote. Now it automatically appears on the right boards.
The first TD, on that row, with the tradestation ad is a little wide at 375px, but in general this is a great look.
flipper38 said: It was listed on NASDAQ. It's now traded-on-OTC-exchange.
The OTC is not an exchange.
The SEC provides a list of which stock are reportable at this link: https://www.sec.gov/divisions/investment/13flists.htm
Unlisted stocks like NWBO are not on it.
Flipper44 said: NWBO was listed. On the OTC.
NWBO was delisted months ago. It's not exchange traded.
On the 13F Q4 2016 list NWBO shows up as deleted (see the picture below):
https://www.sec.gov/divisions/investment/13f/13flist2016q4.pdf
It doesn't appear on the current list of reportable stocks:
https://www.sec.gov/divisions/investment/13f/13flist2017q1.pdf
If a picture would help you out:
I'm not assuming anything except that SUNE bonds crashed. When that happens if you think a company is going to survive either:
1) Buy bonds
2) or buy bonds and short stock
Stocks are always way overpriced in situations like this.
NWBO was delisted.
13F is only for listed securities (NYSE, NASDAQ, AMEX).
https://www.sec.gov/divisions/investment/13ffaq.htm
However I don't think everyone in the retail space felt they needed to follow so closely at that point
This is the press release that signaled that bankruptcy was probable. It happened January 7th, 2016.
http://investors.sunedison.com/phoenix.zhtml?c=106680&p=irol-newsArticle&ID=2127148
That day the stock traded in a range from 4.91 to 2.95 and closed at 3.34 on January 7th.
But the real sign was the corporate bonds crashing in price. They all have to be paid off 100% if common stock is to be worth anything.
You could go an entire lifetime before buying stock in a company that has debt yielding 40% or 50% is a good idea.
This article has the entire timeline:
https://www.pv-tech.org/editors-blog/biggest-corporate-implosion-in-us-solar-history-the-rise-and-fall-of-sunedi
Showing people that left in 2011, 2012 and before anything really started.
One left October 2016. He was the one responsible for clinical trial research. Mannkind still hasn't started the FDA mandated safety trial. They haven't started their pediatric trial, but they did announce that their FDA trial budget was going up
As of May 14th, 2017 the best Mannkind can say is that it is inferior to Aspart.
The other left April 2017.
Amazing how many employees are running away from Mannkind.
LinkedIn: R. Baughman.
Senior Vice President, 13 yrs. with the company, going going gone!
Sr. Vice President, Clinical Sciences
Company Name MannKind Corporation
Dates Employed Oct 2012 – Oct 2016 Employment Duration 4 yrs 1 mo
Location Danbury, CT
MannKind Corporation
Vice President, Clinical Trial Management
Company Name MannKind Corporation
Dates Employed Jan 2012 – Oct 2012 Employment Duration 10 mos
Location Paramus, NJ
MannKind Corporation
VP, Experimental Pharmacology
Company Name MannKind Corporation
Dates Employed Dec 2005 – Dec 2011 Employment Duration 6 yrs 1 mo
Location Danbury, CT
MannKind Corporation
Vice President, Clinical Operations & Clinical Pharmacology
Company Name MannKind Corporation
Dates Employed Dec 2003 – Nov 2005 Employment Duration 2 yrs
Here's the point.
They're taking the price of gold in yen, adding the currency difference between the dollar and yen, to get the price of gold.
But you need to know the price of gold in some other currency to get the relationship, so it isn't telling you anything new.
Moreover there's nothing special about the yen. We don't know where the price of gold is going in Japan. We don't know the difference in inflation expectations years from now in either country. We don't know how much the difference in inflation expectations will affect the price of gold. We don't know the x-axis ratios gong forward.
It's all totally meaningless. A couple years where the real price of gold is stable (on average across all currencies), and mostly affected by currency fluctuations isn't the norm.
p.s. I'll let you have the last word --- if you wish.
There's no causal relationship between yen and silver.
Compare these two graphs.
http://finviz.com/futures_charts.ashx?t=SI&p=m1
http://finviz.com/futures_charts.ashx?t=6J&p=m1
The point is that there's in general a limited supply of silver and its price is driven by emotion and speculation.
From Rising Skepticism: Aug 26, 2016. 11:27
Does anyone else find this difficult to believe:
tinyurl.com/z3m...
His responsibilities include:
"- Engaging Health Care Professionals in face to face discussions to promote assigned product(s), maximize the product(s) selling potential and meet program and Client objectives in support of a leading pharmaceutical company
- Develop and maintain relationships with HCPs and educate them about product features, benefits, safety profile and approved indications to ensure appropriate patient use
- Utilize approved tools and resources for product promotion and maintain a competent level of product, territory and customer activity knowledge"
His resume notes that he graduated from Clemson THREE years ago with a degree in "sport management." He has absolute ZERO experience in healthcare. He does have a couple years experience with some regional marketing group specializing in radio commercials. And prior to being hired by MNKD, he had been working 11 months "cold calling" for ads for FOX Carolina TV.
As I understand it, HE is the Mannkind "regional sales manager" for the southeast. Is anyone else as astounded as I am?
How did this end up? He quit working for Mannkind April 2017.
quite the opposite the contracts where 100% open and disclosed.
Nobody is claiming he's an investigate reporter. He saw what the company said they were doing. He saw it negatively affecting the value of the fund he manages. He asked the company to change. They refused.
Instead of the stock at ten dollars it's at sixteen cents. That's shocking because it all happened without any news about the treatment's efficacy.
The stock is down 98% and the only standout feature is the way the company manages its business.
but LP and Cognate voluntarily and extremely significantly gave up MFN and huge amount of stock in the Cognate deals. Let's be really clear that the MFN was by no means illegal or fraudulent in the first place - quite the opposite the contracts where 100% open and disclosed
Judge the significance of the effort to regain investor trust by the results. It doesn't appear to me to be a huge success.
With the low OS if they were to declare a 10$ one time dividend, the shorts would fry,
What if he decides to give all the cash to the preferred shareholders? Or what if the convertible shareholders, covert their stock to common shares and dump then?
This is in their SEC filing ya-know. They can create as many shares as they want and give them to whomever they want, whenever they want to, for FREE.
We may issue additional shares of our common stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of shares of our common stock.
I hate stuff like that.
On figure 5 notice that there's two y-axes and they're not drawn to the same scale. While the one on the right triples (from 0.5 to 1.5) the one on the left moves by less than 30% (from 130 to 165). Therefore they made numbers that have little to do with each other appear to fit.
Their arguments are not believable. Silver has gone way down in value compared to gold. Therefore silver is cheap and it'll soar. No, maybe people just desire gold, and silver's industrial uses are dwindling.
The dollar has gone way down in value compared to gold. Therefore the dollar is not a good store of value, and buy silver/gold. How come there's no therefore the dollar is cheap and it'll soar?
So he admits he made a school boy error in investing in this company but sounds more like at the price he bought in or perhaps a belief on his part that he could purchase the company early on from Linda.
He repeatedly blames Northwests lack of openness and lack of honesty as being the issues. That's what corporate governance is.
Corporate governance is what he blames for investors losing confidence in the company and the stock price being in the toilet.
He's not talking about personally purchasing the company. The shares are in his fund. He's apologizing to his investors for buying shares in a dishonest company.
claim #1 Mannkind's price is indicative of pending news.
Let's check out that claim:
The price is down 14.5% in the last month. It's down 75.6% in the last year.
claim #2 the Middle East will be Mannkind's savior.
Let's check out that claim.
The entire Middle East insulin market is about 1/6th the size of the USA. Mannkind desperately needs sales 15 times current levels, not sales 1 and 1/6 times current levels.
Why in the world would anyone believe that advertising is desperately needed in the USA, but merely making it available in the Middle East means instant profits?
claim #3 Mannkind needs a 4 billion dollar market cap (like the good old days).
Let's check out that claim. At one time people were predicting 4 billion dollars in annual sales. But annual sales are 5 million dollars. If anything the price is ridiculously high versus a sales rate that's less than 1% of the most pessimistic projections of 3 years ago.
They'll never invest in a company with such shady management practices again. It cost their investors lots of money.
Another poor performer was Northwest Biotherapeutics which announced it was delisting from Nasdaq, to become an ‘over-the-counter’ stock. This marks the end of an inauspicious year for our investment in this company. We still await a response to the investigation into the allegations of financial improprieties and regulatory failure that we called for in late 2015. We have not had any meaningful contact with its board for some time.
We are often asked what went wrong with this investment and what lessons have we learned. As Neil said at the annual general meeting back in May last year, the decision to invest in Northwest Biotherapeutics was an error of judgement. We were initially attracted to the company’s unique technology. From the outset, we were aware of the potential governance issues but we underestimated their extent. Furthermore, we overestimated our ability to influence change at the company. We will always do everything that we can to ensure positive long-term outcomes for our investors, but this case study suggests that it is not always enough. The governance issues at Northwest Biotherapeutics have continued to conspire to shred investor confidence in the business.
I think it's sort of interesting but the graph is too wide if the x-axis is only going to be for only one week.
A mathematician would say, technically speaking, it's too squished down.
May 20th: 2,587,500 dollars not 5 million.
on May 20, 2017, (i) each Holder shall, before 10:00 a.m. New York City time, electronically transfer its Pro Rata Share of $2,500,000 aggregate principal amount of the Notes, and (ii) the Company shall, following such transfer and no later than 5:00 p.m., New York City time on May 20, 2017, deliver in exchange therefor such Holder’s Pro Rata Share of $2,587,500 in cash (representing $2,500,000 of principal repayment plus 6 months of interest thereon at 7.0%) by wire transfer to an account specified by the Holders; provided, however, that the Holders’ tender shall not be effective and shall not be deemed to be effective (and shall be fully revocable) unless and until the Holders have actually received the consideration contemplated by this subsection;
In April they updated the people who own their fund.
If they had sold they would've told their customers the good news and ended the complaining, but this is all they had to say.
Here's their comment April 27th, 2017.
As we have said before, we will always do what we can to ensure positive long-term outcomes for our investors. However, this case study suggests that is not always enough. The governance issues at Northwest Biotherapeutics have continued to conspire to shred investor confidence in the business.
The company has periodically raised further finance over the course of the last year or so, the proceeds of which we presume are being applied to continuing with the trials. We have not participated in any of these fundraisings and we still await a response to the investigation that we called for in late 2015. We have not had any meaningful contact with the Board for some time.
In recent press releases, the company has confirmed that it has completed enrolment for the Phase III glioblastoma trial and the FDA has lifted its partial clinical hold on that trial. We await the results of this study as well as the results of other studies, which have yet to read out. We remain hopeful that at least one of the trials reads out positively. This is something which, given events, we would apply a lower probability to now but, nevertheless it is certainly possible.
Kind regards
Mitch
https://woodfordfunds.com/words/insights/wpct-march-2017/
While day-traders and rumor spreaders controlled trading this week, there has been any actual good news for many months.
Scrapping the bottom of the barrel, the recent 10Q said they were on track to probably make some unknown goal by the end of the year.
Therefore buy the crap out of it.
The Company evaluates stock awards with performance conditions as the probability that the performance conditions will be met and uses that information to estimate the date at which those performance conditions will be met in order to properly recognize stock-based compensation expense over the requisite service period.
On a period basis and as of March 31, 2017, the Company reviewed the probability of achieving the performance conditions for each of the four vesting tranches of the performance-based stock options that were granted during the three months ended March 31, 2017 and in prior years and determined that it was probable that the Company would achieve the first vesting tranche in December 2017.
It all depends on the date you choose.
When I started college in 1978 you could buy 4 gallons of milk with an ounce of silver. Today you can buy more than 5 gallons.
It's a complete myth that silver outperforms stocks if there's inflation. Inflation raises the price of everything that companies sell, their assets (for example real estate) etc.
why would anyone not invest?
Five years ago they had about 337 million shares. The book value was 4 billion dollars. After reverse splits only 1000 of those shares remain, and that 4 billion dollars didn't go to those 1000 shares in fact the book value vanished and went negative.
p.s.
A million dollars invested then would be worth about a dollar today.
What it means is right here:
https://finance.yahoo.com/news/mannkind-reports-1q-loss-202723959.html
The Valencia, California-based company said it had a loss of 17 cents per share. Losses, adjusted for non-recurring gains, came to 22 cents per share.
The biopharmaceutical company posted revenue of $3 million in the period.
Sales need to increase by 150% in the current quarter (from 1.2 to 3 million) just to keep losses from increasing by more than 5 cents (from 17 cents to 22 cents) per share.
If you see sales double, just remember that the earnings report will look more than 5 cents worse in three months than it does now.
Only 1.196 million of the latest quarter is Afrezza.
Net revenue - commercial product sales 1,196
They're unloading raw bulk insulin because they want everyone to know that their customers are not buying Afrezza.
They moved the bulk insulin out of the deferred revenue category.
Revenue Recognition — Revenue — Bulk Insulin Sales — Revenue from bulk insulin sales are recognized after delivery and customer acceptance of the bulk insulin. When the accounting requirements for revenue recognition of bulk insulin sales are not met, the Company defers recognition of revenue until such time that all criteria are met. The ending balance in deferred revenue related to bulk insulin sales was approximately $1.8 million as of December 31, 2016. There was no deferred revenue related to bulk insulin sales as of March 31, 2017.
p.s. It won't be happening again.
As the current rate of Afrezza sales it won't be until 2021 that Mannkind has received as much revenue selling Afrezza as it has received selling buildings.
The bad news? They're running out of buildings to sell.
Them listing a product on amazon gives there product much more exposure. I like that, so does the market.
Mannkind doesn't have a product on Amazon. That's Fake News.
They said some day they might work with a very small start-up company whose products are sold in Amazon.
There are 37 blood glucose monitors who have sales on Amazon better than One Drop.
Here's the truth: Mannkind announced that some day they might work with the company that sells the 38th most popular blood glucose monitor on Amazon. Currently of course anyone can buy any BGM they want and use it with Afrezza.
The latest 10Q was the first financial report in a long time that didn't include the number of employees. I wonder how many people they've hired considering sales aren't rising. Sales need to be at least 15x current levels to come close to breaking even.
They're done selling buildings. Sanofi is done giving them money. Few people try Afrezza. Of those who try almost everyone immediately quits.
The only thing happening is that Mannkind seems intent to spend every cent they can find.
I wonder what the new employees are being told, "sell one prescription and you can be sales leader"?
I think things are worse. Here's why (and the explanation is below): Warrants that are worth 800K can't fall in value by 6.6 million dollars again.
They "earned" 6,629,000 dollars because the stock price fell and their warrant liability fell in value.
Change in fair value of warrant liability 6,629
As of March 31, 2017 and December 31, 2016, the fair value of the warrant liability was $0.8 million and $7.4 million, respectively.
http://investors.mannkindcorp.com/sec.cfm
Note: Most of Mannkind's earnings came about because the stock price tumbled and that is a fact!
Since that 6.6 million is showing up as cashflow they are really burning 2.2 million more per month than most people realize.
VIX up, VIX futures down as about 1/4 quarter of the discrepancy between futures and the VIX closed with three days to go.
Today's close was the most predictable thing possible in VIX futures trading.
I have delayed quotes, but still about 8% more correction for the last three days until May futures expiration.
Adam is at it again: RTQ: 8.95 down 95 cents.
There's more turmoil to report at struggling XBiotech (XBIT) . The biotech company's No. 2 executive resigned last week.
Kelly Thornburg, XBiotech's senior vice president of operations, submitted his resignation letter on May 5 and left the company immediately. Thornburg's exit was disclosed in a note at the bottom of the XBiotech 10-Q filed with the Securities and Exchange Commission on Wednesday night.
https://www.thestreet.com/story/14130753/1/xbiotech-no-2-executive-resigns-leaving-struggling-biotech-without-top-operations-chief.html
Attacking 13 again, third time the charm there going to fall.
14 gave up without a fight. She didn't even need to be asked three times.
VIX futures expiring Tuesday next week are at 11.75. The VIX needs to rise higher than that to meaningfully push TVUX and UVXY higher.
11.75 VIX is completely baked into the current price.
I don't know whether flames will come out of my trading account but I never understood why this cratered just because Ackman sold. Nobody has been more wrong about VRX than him.
And I never understood why anyone thought that bankruptcy was ever a possibility. Maybe the dummies who believed that are being squeezed today. I hope so.
Certain folks here keep on harping on how much NWBO has ripped off shareholders
The most important factor in a company is its balance sheet. If a company has enough cash and assets the stock can be at a 100 dollars per share with no earnings, and no prospects.
CLDX has managed their balance sheet well.
NWBO has done a horrible job, waiting to sell shares at a quarter when they could've sold them at ten dollars not that long ago.
NWBO is where it is today for two AND ONLY TWO reasons:
1. Past decisions by management
2. Management's inability to persuade lenders or anyone else that they'll ever have revenue
That's insane, where does that money go?
That's a common question. Stock trading isn't a zero sum game. It doesn't go anywhere. It's like setting fire to your house. When the value drops, it doesn't go anywhere.
Shorts way too complacent with the low float. # of shares in the float is minuscule in comparison to total shares.
The short interest is only a little over a million shares. Over 3 million traded in the first hour. It's really hard to believe that the share count is as low as Georgie claims it is.
Last year, after Q1 earnings, you wanted to sell for a split adjusted 15-20 dollars per share: #msg-122519937
Now today you'll settle for two or three dollars.
Are you at all worried that those words sound awfully similar to the same old stuff that Mike's been saying for a while? Did he give any promises, or any specific numbers about projected sales?
So far the company isn't selling shares, and they're not selling much Afrezza. Something has to give soon.
In the last two weeks the low in the SPY is 237.70 and the high 239.96. A less than 1% range for two weeks, has to be a record or very close to it.