did the career thing long enough.
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i remember having been ecstatic when it was $1.43...in 2006
a 25 year old cornerback for the new york jets is going sign sign a contract in a couple of weeks for 2 times what PPHM is worth.
this mess is out of control.
do i hear laughing and high fives coming from the board room?
oh, yeah...the reverse split will make it easier to attract institutional investors. right.
jeez....i really didn't think we'd be revisiting the pre-split $.20s again...
i need some of Loof"s likker
so, lafont...are you riding it back down to $1.10 again?
Dear Board:
Buy some friggin' stock here. If you don't, it is a clear indication that you know or believe this stock is going to go lower.
lafont wants you to show irrefutable evidence of manipulation....
if it walks like a duck.....
inexplicable price moves continue. wtf.
i feel so much better now that we're still a strong buy...
let's see....$5 in 18 months.... whoopee
so if management is frustrated with the share price and they feel it's unjustified, why not buy BIG chunks of shares NOW in the open market?
this pps is almost beyond belief, even for pphm
weren't we here before the split not that long ago?
we are dead money for another effing year.
not gone
Going Concern
Our consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability of the recorded assets or the classification of liabilities that may be necessary should it be determined that we are unable to continue as a going concern.
At April 30, 2010, we had $19,681,000 in cash and cash equivalents. We have expended substantial funds on the research, development and clinical trials of our product candidates, and funding the operations of Avid. As a result, we have historically experienced negative cash flows from operations since our inception and we expect the negative cash flows from operations to continue for the foreseeable future. Our net losses incurred during the past three fiscal years ended April 30, 2010, 2009 and 2008 amounted to $14,494,000, $16,524,000, and $23,176,000, respectively. Unless and until we are able to generate sufficient revenues from Avid’s contract manufacturing services and/or from the sale and/or licensing of our products under development, we expect such losses to continue for the foreseeable future.
Therefore, our ability to continue our clinical trials and development efforts is highly dependent on the amount of cash and cash equivalents on hand combined with our ability to raise additional capital to support our future operations through one or more methods, including but not limited to, issuing additional equity or debt.
With respect to financing our operations through the issuance of equity, during fiscal year 2010, we raised $26,324,000 in gross proceeds (as described in Note 7 to the accompanying consolidated financial statements). As of April 30, 2010, gross proceeds of up to $30,568,000 remained available under an effective shelf registration statement. Subsequent to April 30, 2010 and through June 30, 2010 we raised $4,718,000 in gross proceeds (as described in Note 7 to the accompanying consolidated financial statements). As of June 30, 2010, gross proceeds of up to $25,850,000 remained available under an effective shelf registration statement.
In addition, we may also raise additional capital through additional equity offerings, licensing our products in development, procuring additional government contracts and grants, or increasing revenue from our wholly owned subsidiary, Avid. While we will continue to explore these potential opportunities, there can be no assurances that we will be successful in raising sufficient capital on terms acceptable to us, or at all, or that we will be successful in procuring additional government contracts and grants, or that sufficient additional revenues will be generated from Avid or under potential licensing or partnering agreements to complete the research, development, and clinical testing of our product candidates. Based on our current projections, which include projected revenues under signed contracts with existing customers of Avid, combined with the projected revenues from our government contract, we believe we have sufficient cash on hand combined with amounts expected to be received from Avid customers and from our government contract to meet our obligations as they become due through at least the third quarter of our fiscal year 2011 ending January 31, 2011 based on current assumptions. There are a number of uncertainties associated with our financial projections, including but not limited to, termination of third party or government contracts, technical challenges, or possible reductions in funding under our government contract, which could reduce or delay our future projected cash inflows. In addition, under our Loan Agreement (as described in Note 4 to the accompanying consolidated financial statements), in the event our government contract with the TMTI is terminated or canceled for any reason, including reasons pertaining to budget cuts by the government or reduction in government funding for the program, we would be required to set aside cash and cash equivalents in an amount equal to 80% of the outstanding loan balance (or $2,667,000 as of April 30, 2010) in a restricted collateral account non-accessible by us. In the event our projected cash-inflows are reduced or delayed or if we default on a loan covenant that limits our access to our available cash on hand, we might not have sufficient capital to operate our business through the third quarter of our fiscal year 2011 unless we raise additional capital. The uncertainties surrounding our future cash-inflows have raised substantial doubt regarding our ability to continue as a going concern.
did you see that?????? IT WENT UP!!!!
will we hear that this is surely our breakout year?
more like a breakdown year :/
swing trader..
your dndn article may be the most relevant posting here in years.
lafont... READ IT.
lafont...
there's a difference between management being "involved" and management being aware of what is transpiring. i'm not suggesting that management has done anything illegal, but there is a long string of share price moves for this stock that shout out that manipulators/MMs etc. run it up and down constantly, making money in both directions. retail investors don't have enough juice to power moves this big. It's hard for me to believe that management is unaware of who does it..and when it's prudent for them to do it.
do you really think this move was just a bunch of scared momentum traders getting out or retail investors' stops getting hit?
too long...you note was, in fact, very similar to mine...
and fidelity shows the bid at 1.71 vs 2.23 ask...normal spread vs. close for this time of day
fidelity 1.88
lafont..
fortunately, i haven't been burned by enron or any of the other big frauds. i've only been suckered by pphm so far.
several times.
and i've attempted to catch some falling knives here a few times.
this time, i haven't.
for anybody who's been here a while, it's beyond frustrating to keep going back to square one when there never seem to be great reasons why it happens, particularly when the crashes always far out-do the dilution percentages. do you actually think people aren't making a fortune taking it down?
it's obvious that these moves are from shenanigans. are they being orchestrated by friends or foes? if it's by foes, management should be pursuing/identifying the parties and trying to get it in the open to slow it down or stop it. if it's by friends....well...
lafont...
yes.
they have done nothing to enhance their credibility. when it gets over $5, they will have.
i wonder if it's a coincidence that the plug leveled off and THEN the reassuring letter came out.
i'm happy to see it, finally. it probably marks the approximate bottom....but it does nothing for the credibility of the management team since they could have known the dump was coming, with the possibility being that it was triggered by forces friendly to them. i certainly hope that was not the case.
come on $1.82!!!!!!!!!!!! You can do it!
with the bid/ask as it is, we're obviously going down to 1.80 today...same pattern every day..we always hit the low number...
they haven't responded to my inquiries either since early last week. perhaps they're taking a few well-deserved days off.
so where have all these analysts come from lately, and why is pphm of interest all of a sudden?
with comparatively lighter volume today as it moves lower and lower, might it really just be ho-hum anti-viral results with no gov't extension?
the analyst also said it wouldn't be bad if they went after an outfit that would be accretive. that wouldn't be pphm for quite some time...
activity is slowing...
did they sell them all, or will there be another big dump in 10 minutes to take us down to $1.90?
place your bets!
wouldn't that be nice...
i keep having that dream, but then the market opens...
does anybody think they're actually raising enough cash to get rid of the going concern clause? i doubt it... with the share price this low, future dilution would put the stock back close to being a penny stock again...
so who is buying all of these shares?
millions purchased on the way down...retail could not absorb that volume... it just burns me that it's all preplanned and could be unrelated to the value of the enterprise.
can anybody explain how the Pros do this? who is the 1st party selling? who is the 2nd party buying? what roll is the MM playing, and how much is the MM churning? is this a shell game?
oh, to know what is making this happen....
that is an incredible dive...
Abraxis has products and actual revenue...we have neither
i expect $2.30 today..maybe lower. hopefully, that number or anything lower will come on relatively low volume...which should be the sign that the bottom is near...for now, at least.
if this pipeline is really going to be worth billions, please tell me why the board hasn't gotten or can't get a legitimate CEO with industry credibility to move this dog along.
pphmtoolong....not so fast on whether management should be concerned about the share price.
when dilution is in the plan, which it always has been, a sound performance will result in upward price creep so that the dilution doesn't cause the crashes we have every year. A more savvy management team would be more successful with Wall Street...and we would be less subject to the manipulated underbelly of the system...
if they ever delivered on their "talks", we'd be getting clean investment from institutional and retail buyers...instead, we continue to only get investment from the Boys Club.
this stock is still considered to be poison on the Street, after all these years...and they clearly don't care in Tustin.
Tek..you just made me feel better...I'm only down $7K!!!! i feel like a winner!
the difference between last time and this time is that they went out of their way to position THIS as the big year, intimating that the sharelholders would be pleased..after the long-awaited R/S, AACR, ASCO, Avid success, investigator trails, NSCLC results, Russell, etc., etc., etc. You can't make this up.
there's fraud somewhere, but i'm the one who feels like he's in jail. life in Peregrine Prison...parole denied AGAIN
now we know why there hasn't been any widespread insider buying....
they could stop this slide very easily by jumping in... this is nuts.