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PLEASE. There is no lid, there is no accumulation. This is a failed, broken stock. Maybe they can recover, maybe someday PS will be useful for something commercial. Pretending the situation is different, imaging these scenarios though doesn't change the facts.
Sorry, it is impossible to justify the bod comp at pphm. Better to just say hold your nose and put up with it. How can you possibly justify paying bod members more than bod members at multi-billion dollar profitable companies. Companies with hundreds of thousands of employees and international locations. SK and bod should win when bavi wins simple as that.
I am afraid you will be disappointed. There is no way a company announces a RS plan, takes the reputational damage of that failure, and then does not go through with it. Unless you think an acquisition, large investment, or partner with funding is coming; a RS is 99.9% certainty.
It is all just an illusion. Those orders are there to play with your head. They are meaningless.
So silly. Who would bother placing a sell order above the $.40's. What is your point?
The total total destruction of shareholder value makes it a fact.
I can think of three ways it was abused:
1) It was clearly abused to funnel build out Avid. A manufacturing company does not use ATM funds there are so many cheaper sources of money.
2) It was abused to pay the BOD of a failing penny stock selling for $.3x a share more than most Fortune 500 companies.
3) It was abused by using ATM funds to maintain a staffing level the same pre-Sunrise failure as after.
ATM funding in the hands of weak management is problematic. It is a moral hazard that you feel can bail you out of any failure.
Please I thought this issue was settled. There is nothing at all unusual about not adjusting the Outstanding. It is just a part of what shareholders of broken penny stocks deal with. But glad to see it can now be lived with because pphm has been so responsible with share sin the past.
It is a penny stock. It will be jerked around all day long by boiler room types. No TA or level 3,4 or 5 will show what is going on.
Hard to know how much of a delay though. It could have just been 1-2 weeks but happen to hit the end of quarter closing window. Still poor management in terms of being a public company and meeting your revenue predictions, but may not be a big deal to customer - this is the lack of color.
pphm? I will guess $18.4m... it would have been > $20m except am asteroid hit one of the plants.
Yes a liability. They have the cash.
I guess you forgot the other side:
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 9,095,000 $ 8,429,000
Accrued clinical trial and related fees 6,577,000 7,594,000
Accrued payroll and related costs 3,653,000 5,821,000
Deferred revenue 21,531,000 10,030,000
Customer deposits 21,731,000 24,212,000
Other current liabilities 669,000 1,488,000
Total current liabilities 63,256,000 57,574,000
Now compare The current assets: $78.2m and the current liabilities $63.2m. Not much left is there. Also note the customer deposits/deferred revenues. That represents work they have been paid for and not performed. So yes that revenue should come in future quarters but the cash is already on the books. Yet they are down to $44m.
Not a pretty financial picture at all.
And yet it did not move the needle in fact the shareprice declined. What does that tell you?
I would say 2 to 1 they don't hit $20m.
So that would be a no, there is no confirmation of his attendance.
Ahh I see. They have earth-shattering news that they will announce ESMO but are keeping it quiet for embargo reasons. Yes I must be mis-reading the transcript. Amazing that none of that leaked (shareprice dropped 6+%) I would think such news would be a material event requiring shareholder notification, wouldn't you?
It doesn't matter much if Wolchok endorses it. And you are totally speculating he will. Either way, there are no trials to support it. I am sure many find it very interesting technology. You still need to get past PIII to bring anything to market. bavi limped through PII and failed PIII. So now back to the starting line. What 5-7 years best case from now to product launch?
Yes an autocorrected bb post is the same as a published, edited (hopefully) feature article. But my point was what he got factually wrong:
Truth hurts sorry.
Which of these top 5 do you think is factually wrong:
1) Avid is extremely dependent on 1 customer. Their business would be more than cut in half if they left.
2) The pphm bod is paid more than most fortune 500 company bod members yet are running a less than $100m marketcap company preparing for another RS
3) Sunrise was a failure and bavi in chemo is not being pursued.
4) pphm is down to $44m with a RS on the calendar
5) pphm has no trials running and a PIII is many years away with any commercialization of product 5+ years away - best case.
Yes I have been burnt by revenue recognition and have seen business kept in the drawer to protect the next quarter. But no public company I worked for ever missed by such a HUGE amount. It is a very big deal - yes. It shows a total lack of control over their business. It also demonstrates the weakness of their book of business with so few customers.
Accept he got so much wrong (and not just the spelling). The stock did not rise on the earnings report. It rose in advance of the report only to retreat back to the $.30's. The mfg business had a terrible quarter and no reason to believe pphm forecasts of profitability. They are not "about to open Avid III", the do not have a "a big pharma partnership ", and this statement is ridiculous,"It’s generating more than $50 million (target) " You can't say is generating and (target) in the same sentence. Particular after such a huge miss on topline like pphm just had.
The trial ended in failure. Of course they are done with bavi. People still think there is a secret bla coming? Garnick barely speaks and certainly no one, including him, is positioning bavi for anything in chemo at this point. Don't you think if there was anything to salvage from Sunrise pphm would be touting that, not cancelling chemo trials and moving on to IO.
So you think post RS $35? That seems ver ver unlikely.
And how will they pay those dividends. That is very expensive money from a cash-flow position at those rates. They would be much better off to spin out Avid who would then be able to get "normal" financing which is at lifetime lows. But pphm pays usury junk bond rates on preferred to keep the pphm exec team living in luxury at shareholder expense. And you can't compete as a manufacturer if you are paying these prefered-rates for your money while your competitor is paying Fed ultra-low rates. It defies logic and economics.