I agree that the right comps. are required. Big Pharma is not a comp. to Anavex.

I don't know what bank is, but $700K in NYC is NOT bank.

My question is this: What are your comps for your statement? Or is just an opinion?

There is market for biotech CEOs so how does Missling's comp compare and/or how is it disproportionate?

Since I've been invested here Missling has been between $500 and $700K in salary with a 20% bonus (which he rarely if every earns in full). He also gets stock options that depending on a black scholes model are valued at ????. Ultimately, the options will be valued at a big number if the drug works and is brought to market and at ZERO if not. If ZERO Missling has made a good salary, but he is wagering a disproportionate amount of his total comp. on a big upside.

He took $1 million last year in options exercises, but that's all. Probably used the money for a down payment on a house or a 2nd home.

i do agree that the milestones for his current set of options are ridiculous, but the rest of elements of Missling's comp. it seems to me are not that egregious.

I haven't looked up comps. either and the board doesn't use a consultant to evaluate Missling's comp. (bad idea), but I don't see comp. as an issue. Just my opinion

You sound like Missling shouldn't get a dime which of course won't work for Missling unless he's independently wealthy.

Of course I don't know her. What I do know are people who wanted a job but couldn't find anyone to hire them and so had to start a 1 person consulting firm to pay the bills. It's not a character flaw she did what she had to do.

I am against Sorrento. Henry Ji through his incompetence has cost investors millions of dollars. He also has one CFO no one can find and another who died. Hmmmm.

Applying critical thinking and experience is not guessing.

Most posters on this board apply critical thinking too it's just that I believe the conclusions they come to are wrong.

This is art not science. You look at all the facts, make a decision, place your bet (or not) and accept the consequences. That's all. That's life.

Maybe Missling won't get his pay package.
He definitely is looking for as low a strike price as he can get.
Hopeful Missling doesn't get his package after seeing Jamie Dimon's package get voted down by his shareholders.

Really? "Know for sure"?
Don't know anything for sure.
Just applying critical thinking and experience to assess a situation.
I could be wrong, but odds are I'm not.
Again, no position so whatever.

Just posted new CFO bio on the website.

No picture yet.

Not a top candidate. In fact a very weak one.

Just needed an easy paycheck.

Read the 8-K. Mrs. C resigned her board position.

No retraction.
Bankruptcy is still in play
The new board member couldn't get a job in the pharma business so she had to form her own 1 person consulting company 15 years ago. That's what you do when you can't get a job - become a "consultant."
As I've said many times including the post you responded to I covered my short at $2.00.
I have no position now.

Yes, transparent. I was short and covered around $2.00. All longs have lost their A$$ while I made money. Ji is a total fraud: Hindenberg was right, the Mayo clinic guy was right, everyone who called Ji out as a fraud and liar was right. The people who have been wrong for the past 2 years have been long. The point is the truth hurts. Anyone still long has another $1.30 to lose. What are you waiting for: SELL

Don't know, don't care. Your April 29,2000 date is wrong.

I assume Henry can't do math.

Line from the Q:

The number of shares of the issuer’s common stock, par value $0.0001 per share, outstanding as of April 29, 2022 was 388,946,453.

O/S shares on 4/29/22 from the front page of the 10-Q was 388,946,453.

This is how I know you aren't serious investor - you can't get the simple things like O/S right.

Sorry, but that's just the truth.

BTW....and I encourage all to do this....I called the main number at Sorrento and no one answers. That is different from the past. You can only get an attendant where you can either leave a message or dial by name. I dialed all the names on the exec team on the website and not one person answered. I did get a voicemail greeting so I know who it was to confirm the person. I also went to my linked in and dialed 7 additional people and not one of those people answered either. What do you think the odds are of NOT ONE PERSON answering their phone. Mike Royal did provide his cell phone number for a call or text so that was nice.

Anyone still long here is totally F'd. Get out now.

Agreed, but still a giant "IF" That's all I'm saying. What odds are you giving for successful phase 2b/3 AD?

it's over dude. anyone still in this stock will lost everything. Just a matter of time.

You mean $1.23

Very true, but HUGE IFS.

I like your spunk, but 5% is a waste of time. Unless you have big investors participating (assuming there are any) nothing will happen.

I wonder what the new CFO thinks about what she is walking in to?

I don't see bankruptcy on her resume and CFO's want no part of that.

Maybe it will a Moderna CFO situation....not actually what happened to him after one day, but Elizabeth leaving on her own accord after one day.

She really must be insane to talk this job.

Nobody cares.....I guess Henry's plan now is to pump Scilex and hope for the best.

My prediction is that the SPAC gets pulled because of market conditions.

If that happens it is definitely over.

Whoever had $3 million in Stix sales won the bet. Whoever said $50 million must have been stoned.

10Q screw up by Henry Ji. The debate on stocktwits is funny regarding if the 10Q is fake or not. IT IS NOT FAKE. The amount of work to create the document I reviewed simply won't happen. My guess is Henry sent the 10K to the SEC to have them post it tonight after the close. The SEC went through their process and logged on their website in a "hidden" place thinking no one could find it and someone did. As of now the Q is still not at place normally found for such filings.

Yup....here it is.

Bottom line is Buffett has long purchased stocks of companies he understands. It’s a wise course of action for you as well. If you don’t understand what that $2 biotech stock you just bought really does, why are you buying it?

Thanks - I'm doing great babe. Cashed out all longs and short positions. Own all my real estate. Getting ready to be hot here so soon will be at my house in Deer Valley and living off of dividend funds until returning to the beach in the fall.

I agree, but you didn't answer my question: do you compare presentations and analyze the changes, if any.

I had lawyers and auditors who guided the filings. If it was 45 days to file a Q Ji would use all of it. He doesn't. He files in 35 days so that's what I think it is. My reading comprehension is fine. You analytical ability and EQ is the problem

Do you do a side by side comparison of the corporate presentations after they're posted at the website?

Then you would have known the 10K was delayed and wouldn't have had to ask about it. I don't know SEC rules because they're complicated, but I believe SRNE has to file within 35 days of the close of the quarter. That's why I'm saying 5/6 after the market closes. Ji does this after market Friday night filing EVERY quarter because of his blatant disregard for his shareholders. Ji thinks they're stupid and won't notice the filing.

He would ask for a delay because he doesn't have a CFO. That was the reason/excuse he used for the delay in filing the 10K earlier this year which was delayed by a week or so. Know what you own.

She repriced her vested options from Beyond Spring to SRNE at about $1.50 - not final price until she joins in May. From SEC filing below the 80k are what's vested and $15.23 is the strike price. Since BYSI is at $1.50 like Sorrento I guess she assumes BYSI will never get above $15.23. So she basically swapped companies for current strike price of options. Smart.

Elizabeth Czerepak

80,156 144,844 — $ 15.23

She also walked away from $1.2 million in long term incentives....
Ms. Czerepak: a maximum of $1,200,000

Last year's first quarter 10-Q was on 5/5, which of course was a Friday night. What a complete sketch this CEO is. So, unless Ji asks for a delay like he did for the 10K I would expect a filing on 5/6 Friday night.

I would also expect a very bad quarter because the new CFO likely said clean everything up in the quarter before I join so I have clean financials to work with going forward. You can doubt me if you want, but that happens with new management all the time. That's also a lesson for anyone aspiring to C level management. You're welcome.

Yea, well I guess we'll see. I was a first class CFO and subsequently a first class investor. That's why I'm typing this looking at the beach from my beach front home as a 51 year old. If you would read my previous postings early on after the announcement I did give some credence to the argument that because she's been on the board she should know what's going on and took the job anyway. My recent points is that there are potentially other factors in play where she might know something is awful and took the job anyway. The point is NO ONE knows and we'll see what happens.

My prediction is that if Scilex becomes public she moves 100% over there and resigns from SRNE as CFO. My other prediction is she will lead a massive restructuring, cost slashing transformation of the business to be announced soon after she arrives in mid May. If she's smart and who knows if she is she negotiated a few terms like that prior to agreeing to join.

Last thing....here's my information that the new CFO, I and all the world knows....the stock is at a buck fifty, an article today says SRNE is out of cash in a year (kind of a hit piece since every year the 10K has going concern statement from the auditors - look it up) and a few serious minded people have left. I'm especially concerned about Michael Underwood the #2 or #3 finance guy leaving last month. He's a first class, high integrity guy. The CFO's death hit him pretty hard. Also, the chief counsel took a lateral position with another firm. Career minded people don't do that unless they're jumping ship. They also post all these open jobs, buy haven't actually filled any

At SRNE she will report to Henry as CEO.

At Scilex she will report to Jaisim Shah who is President and CEO.

CFO's don't report to COBs. They report to CEOs.

She was appointed as CFO as Scilex first chronologically and then Sorrento second. Isn't that weird? Shouldn't it have been the other way around? Read the 8K to see.

Like I said in a previous post, if this is real argument for your position I can't help you except to say that the rankings and comp. of people at a company are decided by the CEO and not by title. Titles are for people with small hands. Especially when it comes to comp. titles mean nothing.

Another thing....go to new CFO's linkedin page. Post from Scilex CEO announcing her joining Scilex on May 18 as CFO and a few congratulatory responses from her network. Good to see. NOT ONE mention of Sorrento from anyone.

They are playing up Scilex and not at all Sorrento. Like I said before to find out if she's CFO at Sorrento you have to dig. All the PR is about her being CFO of Scilex. I'm left to conclude she's CFO of Sorrento in "name only" for now and will be gone when Scilex is public. Mark it down.

I noticed that Missling got his full 20% bonus last year (from proxy). He only got 10% or so the previous years - target was 20%.

Also, Sandra received no bonus in 2021. She received bonuses in previous years and it could be that with her new agreement she's at $240K CAN with bonus. That's what the proxy implies as well, but to me at least no bonus for your finance chief is strange to me. Said another way, none of her comp. is at risk. At least 20% of Missling's is.

I also noticed that the board doesn't use a compensation consultant (stated clearly in the proxy) to determine CEO's comp. So, how do they know that Missling's comp. is at market value without some objective benchmark from a consultant. I will also acknowledge that the consultant many times is hired to verify a decision that's already been made, but the board would be able to point at a report and say Missling's comp. is ok because it's 50% of the range or whatever. Protects their back from shareholders declaring he's overpaid.

I agree that Vickers without a doubt approved the hire for Scilex.

You need to drop the Ex VP argument. It has no merit.