Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks COLD. Please tell ColdAsIce to come back and give us his thoughts.
I'm re-reading his old posts right now, the guy was brilliant. He should remember me.
I think you're right, the stock price seems a little high right now.
The big run in the last 5 market days, where it's gone from $40 to $60, has to be the result of the earnings conference call with the analysts they had on Nov. 5. The CFO basically said he thought the sales could be at $650 million to $750 million range, in the next 4/5 years. This was a huge statement from a company that has never before given any sales guidance or earnings guidance. Also, sales increased 19% from the 2nd quarter, another big leap. Both of the acquisitions of CRYOPDP (spelling?) and MVE were in the middle of the 3rd quarter, so I expect the 4th quarter numbers to really also jump. During the call, all the officers were reading from prepared statements that were very well put together, I assume by some marketing genius. It was impressive.
I originally bought 270,000 shares at low prices in 2007, and thought I was set for life. I went to Larry Stambaugh's first board of directors annual meeting in Costa Mesa in October 2009, where he lied and said without the 10/1 reverse split, the company would close down in a week. Well we're still here. Stambaugh only wanted the reverse split so he could get a $900,000 bonus to pay off one of his ex-wives. She was sending faxes to the company's fax machine telling everyone Larry was a deadbeat-ex-husband and a deadbeat-Dad who wasn't paying his bills,
I then went to Stambaugh's 2nd annual meeting in October 2010, when only 2 other shareholders showed up because nobody cared anymore and Stambaugh was driving the company into the ground with no sales and a scheme to send all our cash to his current wife's private company in the form of "recruiting expenses."
After Mr. Shelton's second reverse split a couple years later, my 270,000 shares was down to around 2,700. But based on all the great research and information from ColdAsIce, I managed to get another few thousand shares in the $4-5 dollar range, and now I'm sitting on easy street. I would love to hear from him.
Does anyone know what happened to "ColdAsIce"? He posted in 2007 under the name "Cryoport" then in 2008 to 2018 under "ColdAsIce". He was really knowledgable about the mechanisms of Cryoport Inc. and cold shipping.
He was the guy who kept me in this stock through all the dark days.
We've been through the days of CEO Peter Berry, who spent more time at "wine tastings" then he did at Cryoport. Then Criminal Larry Stambaugh's reign of terror, when he illegally funnelled all the Company's cash to his 4th wife's "employment recruiting agency" until he was fired and security finally walked him off the premises.
This stock has really taken off and now the board is dead. Maybe nobody's talking to not jinx it.
I would love to hear from "ColdAsIce". I think his last post was 2018.
I've made a fortune on this thing and would like to thank him.
Not picking on you, but Tim Cook has no idea who VOIP-PAL is. He probably doesn't even know what the initials PTAB stand for. He does however, know where to purchase a quality double bacon cheeseburger.
No reverse split will ever happen.
Patent Play has no clue.
Institutional investors don't want a stock with zero gross income every year. We don't need institutionals.
We'll reach the promised land without them.
No, No, No on the reverse split. Reverse split is not dilution, it is a "license to major dilution" which will eventually follow. Investors buy a certain number of shares for a reason, and don't want that lowered. Also, volume will go dry as a bone, due to lack of available stock. Institutional investors don't want this stock now and they won't want it after a reverse split. Please let company go to work. They've managed the cash just fine so far.
To: Cold as Ice (formerly Cryoport)
Please reconsider your exiting the board. You have many followers here who appreciate your research, whether or not they post. Thank you for your contributions. Would you consider expanding your post limit to 3,000?
As for me, I bought in, in 2006, under the Peter “where’s my wine glass” Berry regime. I accumulated 300,000 shares for $200,000. I bought into the Trey Meehan reports.
When Larry Stambaugh was first hired as a consultant and board member, he didn’t have 2 nickels to rub together. His ex-wife’s attorney was sending faxes to Cryoport, for all to see, demanding that he get current on his alimony payments. How this guy got elected CEO, is beyond my comprehension. I had two private conversations with him, he reminded me of a used car salesman. I went to the board meeting when they voted on the first reverse split, and voiced my opposition. Of course the vote passed. Larry’s girlfriend, his hand-appointed CFO, was counting the votes. After the reverse split, I was left with 30,000 shares.
Stambaugh worked out his home in San Diego, never showed his face in Lake Forest, and illegally paid Finder’s fees from Cyroport to his new wife’s “Employment Agency”
During Stambaugh’s reign of terror, I purchased an additional 11,000 shares at roughly 0.20.
Up until Monday, I still had 41,000 shares at about a $200k cost basis.
Now I have 3,400 shares, This stock will have to go to $58.00, just break even. Game. Set. Match.
I’m still long. I feel I have no choice. Where can I go? Please hang around and give us hope.
Cryoport (The Poster)
Great to hear from you!
I also thought you got discouraged.
I was wondering who this "cold as ice" guy was; and why did he have so much energy. This board has always leaned on you for information.
I bought into this company heavily in 2006, with the idea of holding for a couple years, and it's been a long, painful descent.
I've almost emailed you a couple times the last few months, to ask you what your thoughts were.
Keep posting.
It was the "Old Guy" with the airplane for a few years. He was a big supporter of Peter Berry. I think Berry finally wore him out.
I believe "Baseball Fan" was an assistant Moderator at one time. He still makes great contributions. Larry Stambaugh probably wore him out as well.
You give Fed-Ex way too much credit. They've been sitting on their backside for about 8 years.
Hey CryoPort (the poster)
I really appreciate all your contributions to the board the last 8 years. Please keep up the great work. I miss your point-counter point discussions with Tiger Trader.
I'm planning on attending the next shareholders meeting at CYRX.
If you know the date, please post it. I'll be happy to write up a detailed summary for the board, and ask any questions for you, if you give them to me in advance.
Thanks for the article Watchman. great find.
2 statements are telling:
"Cryoport will effectively become profitable by the second quarter of 2017"
"the company will need to raise additional capital from debt or equity financing before the end of the current quarter to stay solvent"
For those of us who have been in the stock since 2006 with a basis of $7 a share; 2017 seems like a long time.
But I guess we should be happy the game is still on.
Annual Meeting of Stockholders
August 31, 2010
I was 20 minutes late due to something I couldn’t get out of. That was critical, since the stockholders meeting scheduled for 1 hour and twenty minutes, was actually over in 45 minutes, due to a lack of participation. Only 7 people were there, plus Larry S. and Catherine Doll. Only 3 shareholders signed in, myself included. The other 2 were founding shareholders. The remaining 4 attendees were young guys in suits, probably “ringers” from the law firm so Larry wouldn’t be talking into an echo chamber. It was a “morgue” atmosphere compared to last year.
The 3 resolutions passed by approximately a ratio of 5,000,000 yes, 600,000 no, & 75,000 abstain. The voters must have voted the same on all three. The most interesting one was #3, an authorization to sell preferred stock. One of the founding shareholders was concerned about why we needed to have another class of stock. (I assume he was worried about the common stock being de-valued even more than it already has.) Larry assured him that it would probably never be utilized, if it was utilized it would be acquisitions of other companies, not for operating expenses. This seemed to satisfy everyone.
The resolution that interested me was #2, ratifying the auditors. KMJ Corbin. For $119,000 a year, we should have sent them packing, and opened up the bidding for other firms. But I guess it’s considered a minor issue.
(disclaimer: I haven’t followed the company since the first week of February, when the ill-advised reverse-split cost the shareholders 85% of our value. I apologized if subjects mentioned by Larry are already well-known to the “Investors hub board” and also I apologize if this report is lame, but this is all that was discussed. The lack of turn-out doomed the meeting. Larry’s comments are in quotes. My opinions are in parentheses)
The rest of Larry’s comments:
-“The $3.2 million private placement closed on August 20th will be the last round of financing for Cryoport. The company will be profitable and self-sustaining from here on out” (This seems like a stretch, but is also in line with last year’s meeting when Larry said we needed $10 million. Totaled borrowed in the last 12 months is around $8 million)
-“ The company will not be able to generate significant and meaningful revenues until after the commercial introduction of the ‘Cryoport Express Launch’ (not sure name is correct), partnered with Fed-Ex. This will be introduced sometime between now and the end of the year. The exact date is proprietary information and cannot be released, as they feel they are in competition with UPS and World Courier. Fed-Ex is making sure all their employees are fully trained (through webinar’s) before rolling it out. Fed-Ex has been meeting with Cryoport once a week. Fed-ex wants to be known as dedicated to the healthcare industry. UPS beat Fed-ex to the punch 3 years ago in healthcare”
-“Our agreement with Fed-Ex is not exclusive. We can sign deals with any other courier. Fed-Ex will end up being less than half our market.”
-“The customer relationships will be maintained Fed-Ex. They will be the contact. Our requirement is the customer must go through our Web Portal”
-“In addition, to our shipping facility in Delhi, India, we will be opening an Asian facility, probably in Singapore”
-“We will be adding sales personnel and raising company awareness. Presenting at Rodman and Renshaw conference again. Going to more bankers meetings and putting out more press releases.” (Has Stuart Fine has been jettisoned yet?)
-“Some of our key customer’s do not want their names publicly released as being users of Cryoport. This hurts our ability to promote”
-“new technology has increased the number of uses per container to 100. Further increasing our profit margins on certain shippers”
-Quest Diagnostics is moving their Laboratory from Van Nuys, Ca. to Valencia, Ca. this week. All of our employees are there helping them with the move. We are letting them use our containers at our cost.”(I assume this gesture of goodwill will increase our sales with Quest).
-“We have hired a third-party marketing firm, to go around and talk to all of our customers about their experiences with our shipping containers. The data collected will be used to further develop our systems and approach new customers”
-“Some existing customers claim we are saving them 70-80% of their “time” (aka payroll costs) on cold shipping by using our containers vs. their previous methods.”
-“ A typical conversation with a potential new customer. We explain the advantages of Cryoport cold shipping.”
Potential Customer: “This is a great idea. A lot better than what we have“
Cryoport: “Let’s get started”
Potential Customer: “What we are currently doing works. We can’t take the risk right now. We are resistant to change.”
--“Doctors, Surgeons, nurses, etc. are very unhappy with the results of dry ice. Unfortunately, they aren’t the ones who will make the change, or pay the bills.”
End of Larry’s presentation.
Other notes:
-I asked Catherine Doll how long she’s known Larry, and she said she didn’t know him before her Cryoport hiring. I thought this was interesting, as I always assumed Larry wanted his own guy (gal) in finance. I know Dee Kelly had an ugly departure from Cryoport, as they had Security personnel walk her out of the offices. I always thought Dee Kelly was competent at her job, unlike most of the other employees. Ms. Doll has made some mistakes and even had to re-issue financial statements, which is always embarrassing for a public company.
-There was a tremendous spread in the conference room of fresh fruits, pastries, juices, etc. Unfortunately, nobody was around to eat it. I assume the attorneys at Snell & Wilmer took it home.
-Peter Berry was not present. He probably saved himself some heckling and abuse in the lobby.
Once more, into the breach.
-shareholders meeting today, who's in?
-been avoiding this turkey for while, too painful
-glad to see "Tiger" and "Cryoport" back posting their point-counter point. These are 2 intelligent guys, giving great information. Not sure what Tiger's motivation is, since he's a non-shareholder, but reading his posts is great for any serious investor. Hopefully, he's paid by someone for his efforts.
Today's meeting will not be the "lovefest" and "back-slapper" that last years was. Larry sold us a bill of goods with the reverse split. Our fears and reservations turned out to be true. Who needs NASDAQ? If we can't turn a profit, it doesn't matter what exchange we're on.
$119,400 in audit fees paid to KMJ Corbin and Co in 2010!!
Terrible.
Larry's total compensation package for 2010: $922,149.00. He needs to prove he can run a profitable company before receiving this type of money. Our board of directors deserves to lose their shirts in stock value, when this type of stupidity is exercised.
Catherine Doll's compensation package; $243,130.00. Jesus, the bean-counter. We don't do enough transactions for her job to be more than 25 hours a week.
Finally, Bollinger, $174,520.00. This guy could have been on sick leave for the last 5 years, and we'd wouldn't be any worse off. We haven't been manufacturing enough containers, to get him to leave his table at Starbucks.
Obviously, Larry's thinking was the stock was going to rise with "news", rather the old fashioned method of "net income". After the flawed regime of Peter Berry, 90% of the posters on this board could have told him this wasn't going to work. He'll always been known as the guy announcing his stock option numbers while the rest of us were losing 85% of our investment.
Let me know if anyone else is going to the meeting, or if you have any specific questions for Larry. I'll have a full report up sometime in the evening.
Cryoport, please consider hanging out until March 1.
We need your contributions. You are our "Albert Pujols".
jcoukr:
This isn't about being comfortable. Of course, your comfortable.
There's nothing for you to buy. I'm not selling anything. Whenever I see posts like, "Larry's buying stock, that is a good thing." I have to chuckle. Larry is just disclosing, as required by SEC rules, that he has stock options.
Sorry if I come off a little heavy handed, but I'm very frustrated by what happened the last couple weeks, including an unnecessary 10/1 split. This board is great, and probably the best way to get information on a company that doesn't ever say much.
I've talked to Larry. I like Larry. You just can't have blind faith in any CEO, unless it's Steve Jobs. I wouldn't buy stock by "googling" the CEO. My information seems to indicate Larry has no money to put into the company, and why should he, when he can just write himself some options. His personal financial situation is none of my business.
Larry's job is to make the company profitable. That's his goal. He doesn't need to take care of the stockholders. Especially since most of the problems he's dealing with were started and caused by Peter Berry. If he has to burn every shareholder to make the company profitable, he will do so.
I spend a lot of time, analyzing risk vs. reward situations. Cryoport is starting to not add up. 4 years ago I bought 1% of the company. Now through various mechanisms by the guys running the firm, I probably own 0.6%, with basically nothing in return.
Please delete any of my future posts that upset you, as I don't want to offend anyone. This board has been too valuable a resource for me to do that.
In the meantime, read Tiger's posts. "This isn't a lay-up"
Thank you Tiger for your input, again.
There is nothing good about this. Larry is getting shares at the bottom of the market and spending nothing. He will exercise and sell on the same day, whenever that is. My understanding is, he has no money.
The members of this board who have put hard cash in should be insulted. Just more dilution. Fortunately for the shareholders, only myself and couple others are outraged by the dilution. Larry's compensation has more more than GROSS sales during his tenure.
As I stated last Sept., the 10-1 split was unnecessary. We are getting screwed.
We have gone from 4 million shares outstanding (split adjusted) to approximately 5.5 million shares outstanding (split adjusted) in about 18 months and have received zero in return.
Cool, he's around at the bell
Hopefully the MM won't spend the first 2 hours of trading down at Starbuck's, like he did yesterday.
Great postings on Friday, by Tiger, C-Port, BB Fan, CEO & Dog.
Your insights are much appreciated.
Thanks Cryoport, Good to have you back.
C-Port. I don't see any ramp up. Yes, fixed assets went from $189,000 to $613,000, an increase of $424,000. But inventory went from $530,000 to zero. To me this just represents a re-classification, i.e. the bean-counters decided to change the account in which the containers went in. In fact I see a decrease in containers based on this. Granted the fixed asset also includes a subtraction for depreciation, which appears to be around $62,000 (both depreciation and amortization per statement of cash flows). I don't see a ramp-up. Tell me where I'm wrong. Unless the entire inventory of $530,000 was obsolete and written off. Another Peter "where am I?" Berry mis-calculation.
Welcome Back Cryoport.
Your insights are always appreciated.
What can we do to make you a regular contributor again?
C-PORT, in the words of Harry Wayne(KC)Casey, "Please don't Go".
This Board is C-Port and Tiger, (and a little BBF), the rest of use just post random thoughts. I've been away for a couple weeks after the wreckage of the shareholders meeting. Looking to catch up. I take it all the back and forth between C-Port and tiger was "tonque-in-cheek", since both of you guys always like to hear opposite viewpoints. If you can't participate full-time, please come back part-time.
Thank you for all your posts and research the last couple years, on both the boards.
If you read this, one more question, you said you believe Cryoport could survive as a private company. If we run out of money, I was thinking about just closing the doors, finding someone in orange county to store the inventory in one of their empty warehouses, and try come back when better financing could be found & when someone could execute the game plan. Peter "Clueless" Berry had no authorization from the shareholders to give the patents to Roswell or Enable or whoever it was. We need to get our technology back.
Why do you think we could survive as a private company? and if you do, can't we still survive on the OTC, and just suspend operations for now? There not much difference between a price of $0.02 and $0.40? Both need to go extremely north for us to make money.
I have to agree with Tiger. The reason guys are selling,is they have correctly determined, that their profits will be severely reduced after the 10 to 1 reverse split. This also
has to do with time. Guys have been holding this stock for years and years. The longer you hold, with no appreciation, the higher your profits must be to justify continued holding.
Some guys on this board think this is a $25 stock. It's not.
Peter "where am I?" Berry gave options and warrants away like crystal geyser water. We are being diluted to death. Trey Meehan's measly stock target of $7.50, which should have been achievable, would have netted about $2 million dollars. After a 10-to-1 reverse split. that's gone.
Corbin & Company has been our CPA's for at least 4 years, probably more than that, but I don't want to look it up. This is a fairly embarrassing development, but is probably a product of what went on in the Catherine Doll, Dee Kelly power struggle, as well as Corbin falling asleep at the wheel.
The important thing, of course, is to get it right, so that's good; but this doesn't help us when we're trying to get on NASDAQ.
I copied and pasted off a Word document, it went a little nuts on me, and now I can't edit. It starts to repeat a few times about 1/3 down the sheet.
Shareholders Meeting 10-9-09
I will give you everything I have from the meeting. For Baseball Fan and C-Port, most this stuff is rudimentary and basic. It is probably intended for the guys less informed. I will throw in some of my opinions on occasion. If you disagree with me, no problem. Also had a private conversation with Larry Stambaugh (LS), after the meeting. I will have to filter some of that on a message board, as he only had conversations with 3 guys, so he’d know exactly where the information came from, if it got back to him. I’d like to keep the line of communication open.
-25 People attended the meeting, including Catherine Doll, Carlton Johnson, Larry O’Toole, Peter Berry, Dee Kelly, Scott Rhodes (sic), a couple lawyers from Snell & Wilmer.
-Meeting was very formal. LS didn’t spend much time going through the proposals. Looking back I believe it was because he already knew he had the votes to pass “the reverse stock split”. Also trying to keep any criticism to a minimum. The reason the resolution passed was because shareholders were allowed to change their votes already cast. I originally voted no. Then was convinced by Trey to vote yes, and I changed my vote at the meeting. I believe many that originally voted no, were convinced the company would fail, if it didn’t pass. I went in with the idea of raising some questions, but Peter Berry’s appearance quelled that. Most hard questions would have been very insulting to Berry, an indictment of his failed tenure. Berry left the meeting about 10 minutes early with Dee Kelly, I’m sure as a way of avoiding any angry shareholders in the elevator. When you think about it, Berry went through about 15 million dollars between 2002 and 2009 (with zero sales). So asking for another $10 million doesn’t seem right on a 10-1 reverse split. Shareholders who have been with the company for 4 years like myself with 300,000 shares, could have made $600,000, if the stock just moves to 2.5 points. Now with only 30,000 shares, the stock will have to go from 5 to 25 to make $600,000. Considering how long we’ve had our money in and at great risk, it is a real shot in the gut, and as Howard Beal said on Network, “I’m mad as hell…”. Berry looked tired & beat-up. I wish he would have stepped down sooner. He did not invest in any shares of his own except what he gave himself in options, at no risk. I know he deferred some salary and has a note receivable from the company. But I don’t consider that an investment because he wasn’t qualified in the first place to be on the job. He has is another 900,000 warrants which makes me ill. (Ken Carlson has about 300,000 warrants, Dee Kelly 600,000. Dilution for all of us, for a failed regime.)
-(one on one) LS said after the meeting, in so many words that Cryoport would have failed without the reverse stock split. He had to make many phone calls in the couple weeks to persuade shareholders to go along.
-A shareholder named “Mark” didn’t catch his last name, was very pointed and hard on LS concerning some issues and Enable & Roswell’s commitment to waive there rights and agree with the stock split. He was the only one getting aggressive; Sounded like he had major shares. LS did a nice job of dealing with him.
-R&R would only agree to loan $10 million (net $8.8), if the stock is listed on the NASDAQ. They believe there is “too much stock manipulation of the over-the-counter exchange”.
-(one on one with LS) LS originally approached Fed-Ex about taking an equity position in CYRX, (that was his preferred option) but they said “We’ve done that before and it never works out” and “that’s not what we do”.
-Proposals:
#1: Passed with an 82% vote
#2 35,000,000------Yes
5,000,000--------No
3,275,000------- Abstain
#3 Reverse stock split
28,000,000------Yes
10,000,000--------No
1,275,000------- Abstain
#4 16,000,000------Yes
6,299,476--------No
789,410------- Abstain (Didn’t have a majority)
#5 28,015,987------Yes
11,547,779--------No
807,954------- Abstain
#6 Passed, didn’t get the numbers.
-The reverse stock split will take place at the end of November or beginning of December, It will based on the stock price at that time. Since we don’t have any sales, the only way the stock price can go up before then is major news. Otherwise we are stuck at .42 or .49 cents and the split will be 10-to 1 or 11-to-1, and we, the long-time shareholders will be getting a greased pole.
-I believe the preferred stock proposal didn’t pass because it wasn’t presented as a “make-or-break” option, and it was worded as a “Blank Check” in the proxy, and I’ll sure that scared some people.
-(one-on-one with LS) LS says there is no faction out there that can legally or illegally block out product from being used. Meaning no “dry-ice faction”, no World Courier, no Labor Union, no Mafia, no Tony Soprano. The market is ours.
-LS: “we have only 2 competitors, MVE Storage Products and Taylor-Wharton. But they are very far behind us in technology”, and won’t be able to catch up on time. He said what specifically put them behind us, but I wasn’t able to remember.
-All of our receipts for sales will go to FED-EX first, then they will pay us our fee. That way we use their accounting dept. and their debt collectors. We don’t have to hire and pay for those functions. We will have most of Fed-Ex sales force at our disposal. We will train their sales force. But the customer must use our Web-site or Web-Portal to use the service. We control the shipment.
-(one on one) LS indicated that very little of the $10 Million ($8.8 million net) would be used to build or upgrade facilities. The majority will be used for hiring employees and ramping up inventory.
-(one on one) LS commutes almost everyday (although he travels a lot) from San Diego to Lake Forest. This is quite a long drive in traffic. I’m worried a little bit about fatique.
-Small Users of Frozen shipments spend an average of $1,500.00 per shipment. (paid to World Courier). Large Users spend an average of $665.00 per shipment. Cryoport will charge on average $550.00 per shipment.
-The cost to Cryoport of our shipper is $30.00 per shipment. (Amortized based on a number of uses).
-at a minus 128 degrees or colder there is zero degradation in a medical sample. Dry Ice keeps the temperature at a minus 80 degrees. Cryoport’s shippers keep a temperature at minus 200 degrees for the entire shipping time.
-LS projected sales numbers
Year ended March 31, 2011---- $13,000,000
Year ended March 31, 2012---- $56,000,000
Year ended March 31, 2013---- $74,000,000
Year ended March 31, 2014---- $84,000,000
Year ended March 31, 2015---- $101,000,000
The company will break-even at 25 million in annual sales
-We are currently shipping for the following customers: Quintiles, Quest, Dupont, Emory, Cellulogix International, Zymo Research Corporation, Stencel, BD BioSciences, MD Anderson.
-we are targeting Covance Inc. and LabCorp. If we get 30% of the business of these 4: Quintiles, Quest, Covance & LabCorp, we will break-even.
-We have met “IATA Standards” for shipping on the world’s airlines, which is very difficult. You must be able to drop the container from a distance of 30 feet onto concrete, and have the contents remain intact. Currently many airline pilots are refusing to let dry-ice containers on flights when there are animals on the plane because the dry-ice suffocates them.
-LS is a great guy and I’m glad he’s the guy running Cryoport. He was very gracious to everyone, big and small, and encouraged me to come by the Lake Forest facility anytime and he would personally give me a tour. However, he was not the “dynamo” I read about on this board. He was what you would expect from a CEO running a public company.
-Given what happened today, I would not have invested $250,000 of hard cash in Cryoport in the last 3.5 years. No way, the risk was too high and the rewards are now too low. However, today, if I’m “Red Bull Stockdude”, I load up on few hundred thousand shares at .42-.49.
-All of our receipts for sales will go to FED-EX first, then they will pay us our fee. That way we use their accounting dept. and their debt collectors. We don’t have to hire and pay for those functions. We will have most of Fed-Ex sales force at our disposal. We will train their sales force. But the customer must use our Web-site or Web-Portal to use the service. We control the shipment.
-(one on one) LS indicated that very little of the $10 Million ($8.8 million net) would be used to build or upgrade facilities. The majority will be used for hiring employees and ramping up inventory.
-(one on one) LS commutes almost everyday (although he travels a lot) from San Diego to Lake Forest. This is quite a long drive in traffic. I’m worried a little bit about fatique.
-Small Users of Frozen shipments spend an average of $1,500.00 per shipment. (paid to World Courier). Large Users spend an average of $665.00 per shipment. Cryoport will charge on average $550.00 per shipment.
-The cost to Cryoport of our shipper is $30.00 per shipment. (Amortized based on a number of uses).
-at a minus 128 degrees or colder there is zero degradation in a medical sample. Dry Ice keeps the temperature at a minus 80 degrees. Cryoport’s shippers keep a temperature at minus 200 degrees for the entire shipping time.
-LS projected sales numbers
Year ended March 31, 2011---- $13,000,000
Year ended March 31, 2012---- $56,000,000
Year ended March 31, 2013---- $74,000,000
Year ended March 31, 2014---- $84,000,000
Year ended March 31, 2015---- $101,000,000
The company will break-even at 25 million in annual sales
-We are currently shipping for the following customers: Quintiles, Quest, Dupont, Emory, Cellulogix International, Zymo Research Corporation, Stencel, BD BioSciences, MD Anderson.
-we are targeting Covance Inc. and LabCorp. If we get 30% of the business of these 4: Quintiles, Quest, Covance & LabCorp, we will break-even.
-We have met “IATA Standards” for shipping on the world’s airlines, which is very difficult. You must be able to drop the container from a distance of 30 feet onto concrete, and have the contents remain intact. Currently many airline pilots are refusing to let dry-ice containers on flights when there are animals on the plane because the dry-ice suffocates them.
-LS is a great guy and I’m glad he’s the guy running Cryoport. He was very gracious to everyone, big and small, and encouraged me to come by the Lake Forest facility anytime and he would personally give me a tour. However, he was not the “dynamo” I read about on this board. He was what you would expect from a CEO running a public company.
-Given what happened today, I would not have invested $250,000 of hard cash in Cryoport in the last 3.5 years. No way, the risk was too high and the rewards are now too low. However, today, if I’m “Red Bull Stockdude”, I load up on few hundred thousand shares at .42-.49.
-All of our receipts for sales will go to FED-EX first, then they will pay us our fee. That way we use their accounting dept. and their debt collectors. We don’t have to hire and pay for those functions. We will have most of Fed-Ex sales force at our disposal. We will train their sales force. But the customer must use our Web-site or Web-Portal to use the service. We control the shipment.
-(one on one) LS indicated that very little of the $10 Million ($8.8 million net) would be used to build or upgrade facilities. The majority will be used for hiring employees and ramping up inventory.
-(one on one) LS commutes almost everyday (although he travels a lot) from San Diego to Lake Forest. This is quite a long drive in traffic. I’m worried a little bit about fatique.
-Small Users of Frozen shipments spend an average of $1,500.00 per shipment. (paid to World Courier). Large Users spend an average of $665.00 per shipment. Cryoport will charge on average $550.00 per shipment.
-The cost to Cryoport of our shipper is $30.00 per shipment. (Amortized based on a number of uses).
-at a minus 128 degrees or colder there is zero degradation in a medical sample. Dry Ice keeps the temperature at a minus 80 degrees. Cryoport’s shippers keep a temperature at minus 200 degrees for the entire shipping time.
-LS projected sales numbers
Year ended March 31, 2011---- $13,000,000
Year ended March 31, 2012---- $56,000,000
Year ended March 31, 2013---- $74,000,000
Year ended March 31, 2014---- $84,000,000
Year ended March 31, 2015---- $101,000,000
The company will break-even at 25 million in annual sales
-We are currently shipping for the following customers: Quintiles, Quest, Dupont, Emory, Cellulogix International, Zymo Research Corporation, Stencel, BD BioSciences, MD Anderson.
-we are targeting Covance Inc. and LabCorp. If we get 30% of the business of these 4: Quintiles, Quest, Covance & LabCorp, we will break-even.
-We have met “IATA Standards” for shipping on the world’s airlines, which is very difficult. You must be able to drop the container from a distance of 30 feet onto concrete, and have the contents remain intact. Currently many airline pilots are refusing to let dry-ice containers on flights when there are animals on the plane because the dry-ice suffocates them.
-LS is a great guy and I’m glad he’s the guy running Cryoport. He was very gracious to everyone, big and small, and encouraged me to come by the Lake Forest facility anytime and he would personally give me a tour. However, he was not the “dynamo” I read about on this board. He was what you would expect from a CEO running a public company.
-Given what happened today, I would not have invested $250,000 of hard cash in Cryoport in the last 3.5 years. No way, the risk was too high and the rewards are now too low. However, today, if I’m “Red Bull Stockdude”, I load up on few hundred thousand shares at .42-.49.
-All of our receipts for sales will go to FED-EX first, then they will pay us our fee. That way we use their accounting dept. and their debt collectors. We don’t have to hire and pay for those functions. We will have most of Fed-Ex sales force at our disposal. We will train their sales force. But the customer must use our Web-site or Web-Portal to use the service. We control the shipment.
-(one on one) LS indicated that very little of the $10 Million ($8.8 million net) would be used to build or upgrade facilities. The majority will be used for hiring employees and ramping up inventory.
-(one on one) LS commutes almost everyday (although he travels a lot) from San Diego to Lake Forest. This is quite a long drive in traffic. I’m worried a little bit about fatique.
-Small Users of Frozen shipments spend an average of $1,500.00 per shipment. (paid to World Courier). Large Users spend an average of $665.00 per shipment. Cryoport will charge on average $550.00 per shipment.
-The cost to Cryoport of our shipper is $30.00 per shipment. (Amortized based on a number of uses).
-at a minus 128 degrees or colder there is zero degradation in a medical sample. Dry Ice keeps the temperature at a minus 80 degrees. Cryoport’s shippers keep a temperature at minus 200 degrees for the entire shipping time.
-LS projected sales numbers
Year ended March 31, 2011---- $13,000,000
Year ended March 31, 2012---- $56,000,000
Year ended March 31, 2013---- $74,000,000
Year ended March 31, 2014---- $84,000,000
Year ended March 31, 2015---- $101,000,000
The company will break-even at 25 million in annual sales.
-We are currently shipping for the following customers: Quintiles, Quest, Dupont, Emory, Cellulogix International, Zymo Research Corporation, Stencel, BD BioSciences, MD Anderson.
-we are targeting Covance Inc. and LabCorp. If we get 30% of the business of these 4: Quintiles, Quest, Covance & LabCorp, we will break-even.
-We have met “IATA Standards” for shipping on the world’s airlines, which is very difficult. You must be able to drop the container from a distance of 30 feet onto concrete, and have the contents remain intact. Currently many airline pilots are refusing to let dry-ice containers on flights when there are animals on the plane because the dry-ice suffocates them.
-LS is a great guy and I’m glad he’s the guy running Cryoport. He was very gracious to everyone, big and small, and encouraged me to come by the Lake Forest facility anytime and he would personally give me a tour. However, he was not the “dynamo” I read about on this board. He was what you would expect from a CEO running a public company.
-Given what happened today, I would not have invested $250,000 of hard cash in Cryoport in the last 3.5 years. No way, the risk was too high and the rewards are now too low. However, today, if I’m “Red Bull Stockdude”, I load up on few hundred thousand shares at .42-.49.
reverse split passed 28 million votes yes. 10 million votes no, 1.3 million abstain. All measures passed except #4 preferred stock. I can have a very comprehensive summary up about the meeting if anyone is interested. Let me know. I won't available for the next few hours.
Don't want to argue with you about a math class. I appreciate your opinion, my logic is solid. It's a hell of lot farther to go from $4.90 to $15.00, then it is from 0.49 to $1.50. Any shareholder going for this plan is being played. I'm lining up right behind Trey Meehan and voting no.
NO NO NO!
Hopefully I'm reading this wrong.
If you own 300,000 shares right now at .49,
you now own 30,000 shares at $4.90. No way this works.
If this same shareholder of 300,000 is currently down $60,000.00, then the stock has to go to $7.00 to break even.
If the stock goes to $9.00, then you have a profit of $60,000. NO NO NO.
Right now if the stock goes from 0.49 to 1.49, I make $300,000 with a profit of $240,000.00.
This is a complete sell-out of the shareholders who have put hard money in the company. Not to all the warrants, that they've been passing out like water to all the employees who have failed, yet still retain 100,000's of warrants. We are still paying for the sins of the Peter Berry era; but I would rather this price go to zero, then accept this set of circumstances.
Stambaugh needs to put up sales numbers, and leave the mergers & acquisitions department alone.
I will be going to the meeting a Friday, voting NO on the revere split, and will be hot under the collar, if they attempt a question-and-answer session.
C-Port,
great posts the last couple days.
I'm about 25 minutes from the Cryoport main office, although I've never been there in 3 years of stock ownership. I'm about 30 minutes from Costa Mesa, where the shareholders meeting will take place. Anybody need any information, or has any questions to ask, let me know.
If I see the falconer, I'll pass along the message.
LongCYRX: "Stambaugh will do what he wants..."
Long, Stambaugh cannot order up a 15/1 reverse split without shareholder approval. It doesn't matter what he wants.
I will be voting NO on the reverse split, and I will also be attending the shareholder meeting and looking forward to it. Stambaugh has encouraged shareholders to vote on the reverse split, via the internet, before the meeting. So I will not be able to hear his reasoning before voting.
One reason the stock price of won't budge is a lack of volume.
We don't have any. Every time one of these "warrant guys" start dumping shares, there's no volume to support it and the stock tanks. Thats on Peter Berry. For instance, one day last week we had 15,000 shares traded. After the reverse-split, this volume becomes 1,000. This is what could be called a death blow.
Thanks C-Port, great reporting from the R&R conference.
I'm going to the shareholders meeting. Who else is going? Would love to meet guys from this board.
We are still paying for the sins of the "Peter Berry Era".
The financing agreements he signed were atrocious. At 3/31/2009 our total loan obligation was $2.9 million, yet our total annual interest expense paid was nearly $2.7 million. It doesn't take an MIT graduate to calculate this interest rate as ridiculous. The man who signed these notes shouldn't be allowed ever negotiate financing again.
Berry handed out stock warrants like bottled water. On a quarterly basis we are seeing our position in the company shrinking as more shares are issued and outstanding. I believe Berry still has over 900,000 warrants, Ken Carlson has 300,000, Dee Kelly has 400,000. These people failed miserably, and their warrants should have been terminated when they were. As C-Port and Michael Douglas said, "You either to it right, or you are eliminated."
I will be at the shareholders meeting on Oct. 9. Anyone else going?
I will be voting "no" on the reverse stock split.
This company needs to start putting up numbers. Now. If we can't put some sales on the board, there's not enough dumb investors in the world to buy this stock.
I think I'll stick to readings Tiger's newsletter.
Great to hear, C-Port.
I guess your posts have been of such great quality through the years, it tough to live up to expectations.
Kinda like Peter Frampton, after "Frampton Comes Alive" or Fleetwood Mac after "Rumors"
Let's send Stockdude1 a couple more cases of Red Bull.
"Stock Dude's" enthusiam is refreshing, hilarious, and probably much needed.
Let him continue to run wild.
especially since our "stars", Tiger & Cryoport are laying low.
Add Baseball fan to the star category.
CRYO:
You are correct again. I just called over there and Carlson is gone. However his name is still in the voicemail message; the 3rd person mentioned after Bollinger and someone named Giselle Lara. Geez, we need to start acting like a public company, and update the I.T. stuff. The phone directory is the companys first impression when someone is calling in. Carlson was a heck of a good guy and salesman, however he should have been terminated after his first $5,000.00 quarter.
Baseball Fan:
Thank you for all your great posts. No question Dee Kelly didn't resign, and was pushed out. No reason for her to leave, as she was dedicated to Cryoport, and her work was professional. She didn't write all the bad financing loans, Berry did. I don't believe she ever operated on a large scale. Synergy is important between the CEO and CFO, and Larry needs his own guy. This is another good move.
Interesting, I guess Larry wants his own CFO.
I never met Dee Kelly, but I thought her work was professional. Didn't think she was part of the problem.
Have to take it as a good sign, LS bringing in his own people,
who have operated on a bigger scale than our current people.
I guess Ken Carlson's next, unless he's been demoted to "Assistant to the Traveling Secretary," or something. We added a new sales guy recently.
Anybody know the reasons for her departure or who LS has in mind for a replacement?
Cool, Cryoport (the pstr), I can rest easy again.
Your contributions are extremely valuable.
Yes, I'm a long-term investor. Been around for 3 years.
Cryoport (the Poster) hasn't posted since May 21. Is he already gone?
Cryoport (the poster) and Tiger are the main reason I read this board. They're both "information machines". Hate to lose either one.
Last year the 4th quarter numbers were announced on June 30th, 90 days after the close of the year, which I believe is a little slow for a public company. By contrast, the 3rd quarter numbers, this year, were released 48 days after the close, which is closer to where it should be.
Our 4th quarter report, will reveal the main reason, Peter Berry is no longer CEO. At the end of 2008, he predicted calendar 2009 sales to be $20-25 million. This means Jan-Mar sales should come in around $4-6 million.
Let's see how close he was. I'm predicting he missed by $4-6 million. I hope I'm wrong.