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Lobcrab, are you still a buyer here? Or still holding?
And these loans with stock as the guarantee were not mentioned in any 10K's or Q's?
Now think real hard: Did Dean have the shares that he voted with to raise the A/S count? Or had they already been sold.
Sub-penny tomorrow morning.
Looks more like Dean has been a big fat liar. Useful information for Bogdan.
Oh, and were any of these loans backed by Dean's shares as collateral reported in an filings? He reported them as such when he put up 15M shares for a loan (last fall?). But he didn't bother to mention 32M shares that he had done earlier.
Lie, lie, lie. I'd say his pants are on fire, but I don't think he has any pants left to burn.
AccipiterQ, you pretty much hit the nail on the head. That and there is this little thing called the Constitution and something about freedom of speech....but I digress...
Remember, the DVIS was "ready for production" and "just a labeling issue". And then came the NSE letter.
The reason it is taking so long is that the device does NOT work as advertised. If it did, Dean would have sent the FDA the comparative imagery they have been asking for over the last 3 years. Instead, he sends them a couple JPG's of different body parts to compare to different body parts. The images stink also as far as quality.
Lots of wishful thinking. Nobody is going to buy ALXA until it is approved. You'll get R/S and more dilution before approval.
No sense in being a buyer here.
So could BK news. That's the way King likes to roll.
Non-interesting. Just someone attempting to manipulate. My guess is we have a hedgie executing a slow bleed out of their position and they are trying to keep the price from tanking because there is not going to be any news to move this stock for 60+ days (more likely 90+ days).
No merger or sale coming. Thomas King is a wimp for not answering any questions on the confcall yesterday. Run and hide like a little boy.
Too bad as I was going to make him look silly.
Hmmmm...no Q&A on the call. That does not feel good at all.
What is King hiding?
Well, either King is a liar (to the point of serious lawsuits and SEC violations) or the mfg issue really is a simple one.
I read that maybe they used the validation process from the 10mg dose for the 5mg dose? This would be using substitution vs actually running the process against the 5mg dose. The logic makes sense but the FDA probably doesn't like that if this theory is true.
Wish I knew more about how much validation is required for a mfg drug process when going into trials. Seems like cart before the horse not to have the mfg process down before trials. But hey, the FDA is not known for being genius's.
There is a thread on Yahoo MB asking the question that if the mfg issue in the CRL was related to the 5mg does (as alluded by King in the CRL conference call on May 4th) then how did they produce the 5mg dose for the trials?
Question sort of makes sense. How do they know they were dosing at 5mg vs 4mg or 6mg?
It's an interesting point as I concur that how could you rely on the trial data if the doses are not correct. Not sure what the FDA rules are though on trial doses/mfg. Anyone?
Item#6: One of those is true. That is for sure. Bet your life on it.
It's not dumb...it's greed. Also, calculated risk that a multi-billion dollar company would just write it off and move on.
JMP Securities (J. Napadano) is a complete and utter shill for ALXA. You can take that to the bank.
On the mfg issue, GF may never have even asked given they are a multi-billion dollar conglomerate. $1M, $5M, $10M....means nothing to them. I know VC's in Silicon Valley that invest $10M's in startup with really poor business ideas (and this is post dotcom bubble).
Maybe GF is foolish with their money? I know they are private but i thought I could find some information on how big they really are?
Are they a $1B+ company (with all of their subsidiaries)? If so, $1-2M would be a sneeze for them.
I agree with you also on Gruppo. Is Thomas King that good of a scammer to reel in Gruppo? Hopefully those "italians" will show him how to fish from the bottom of the sea floor.
Lazard I understand...they don't care that much as they get paid to look for suitors and get paid if you get sold. A potential buyer has to do all the DD anyways.
At least you and I have some agreement. GLTU in future investments.
ALXA is a dead duck with all the lies being spewed out from Thomas King.
Example:
"http://www.rttnews.com/1876749/fda-refuses-to-approve-alexza-s-adasuve-on-manufacturing-issues-shares-plunge.aspx?type=fdp&Node=B1"
The FDA said in the letter, "During a recent inspection of the Mountain View, CA manufacturing facility for this application, our field investigator conveyed deficiencies to the representative of the facility. Satisfactory resolution of these deficiencies is required before this application may be approved."
Yet, Thomas King on the conference call wants investors to believe that he does not know what the issues are and needs to hold call with FDA to get the details. The details were spelled out and conveyed to the to the rep (his employee) at the facility.
Don't forget the "stay bonuses" that are due execs on May 12th!! The deserve it right?
Otherwise, I concur with your sentiment.
"I can only wonder if I would do the same in their position. "
Yes, ALXA is a sad state of affairs when it acts as a microcosm of today's SEC regulation problems. Of course, they are following the law as required by the SEC. It's the fools at the SEC that don't require the disclosure of the CRL information word-for-word.
However, ALXA is simply a coward of a company for not being transparent. Coward always starts from the top, right Mr. King?
Aaaaahhhh. An infamous "Doctor" no doubt....not a medical doctor mind you.
Who told you that? Dean? or Mike Nessen?
I'd be pretty wary of those sources.
ALXA is telling us that the approval is nowhere even close.
http://finance.yahoo.com/news/alexza-receives-complete-response-letter-213000080.html
"There were no new clinical or safety issues identified and there were no other deficiencies outlined in the CRL. With respect to the ADASUVE Risk Evaluation and Mitigation Strategy (REMS), the CRL stated that discussions can continue on the proposed REMS after the response to the action letter has been submitted. The CRL also contained comments on Alexza's draft product labeling. Alexza believes that there is substantial agreement between Alexza and the FDA on the REMS and product labeling."
1. REMS discussions are NOT completed. Nor will they advance any further on REMS discussion until the manufacturing issue/deficiencies are resolved....and ALXA is tight lipped on exactly what they are....even though they know exactly what they are because the inspector was there and told them to their face. Any investor who believes they do NOT know what the issues are is being foolish.
2. Labeling is NOT completed. See #1 above...
Now ask..."when did they know about the problems and when did they announce they are looking to have a R/S voted upon?"
King knows how to play the game. He knows where to stay out of trouble with the law. He might have stepped too far this time however as he has the added variable of disgruntled ex-employees.
There are no consultants working on the 510K. The device is a scam. Dean Janes has been lying his buns off for years.
Dean Janes will end up in jail.
You should be aware that law firms such as this don't look at just the ALXA firm. They would also be looking into hedgies like Symphony.
1. When was the FDA inspection?
2. When was the stay bonus plan enacted?
3. Why was a raise given to an exec?
If you think it is a non-event then you should buy more.
"Are the execs keeping their bonuses from last fall that they paid themselves for just submitting the NDA? Never mind approval...
And since the whole thing is sooooooooo promising and a minor issue, are the execs going to refuse their stay bonus that is coming due on May 12?
Thomas King is a piece of garbage."
"But Dean knew when he took this company public what the risk were."
You mean Dean knew the risks when he started scamming investors.
"I felt Dean was very honest on the topics he covered in MTV interview."
Dean told so many bold faced lies it was hard to keep track. Chris and Mike leave for health reasons is #1. Almost a moronic statement.
"In the end I felt sorry for Dean."
Don't feel too sorry for him as he cashes those checks and drives home in his company paid for Mercedes.
Just sayin'!
Since the device is a fraud, you never actually knew the risks involved. I'd give Dean some sympathy if the device actually worked. However, it doesn't.
IMGG is a lifestyle stock for Dean Janes. Plain and simple. He knew it would end someday, but he didn't realize how far his ego would let him take it. His ego has pushed him into serious jail time.
Hahaha!!! Yes, his tiny little brain looking for any way to spin this scam company into gold.
Did you report this to the SEC? losangeles@sec.gov
Is anyone still thirsty? Thirsty for IMGG stock? Be careful because if you drink enough water you can die.
If it worked, he would sell it to vet clinics. If it worked, he would try to sell it to companies looking to 3D scan their products (not meat packing plants but high tech silicon wafer chip mfgr's).
The DVIS does not work.
Yes, you are sure on your speculation ad is my speculation.
Mike Nessen won't do a lot of jail time but he will do some, have a felony on his record, have restitution to pay, and will be banned from any exec position in any publicly traded company for life. And like Dean and Chris, he will need to watch over his shoulder for the rest of his life.
Are the execs keeping their bonuses from last fall that they paid themselves for just submitting the NDA? Never mind approval...
And since the whole thing is sooooooooo promising and a minor issue, are the execs going to refuse their stay bonus that is coming due on May 12?
Thomas King is a piece of garbage.
Wrong. Dean, Chris and Mike are going to jail. No doubt about it. They may not get the length of sentences that many would want, but there will be jail time with the majority going to Dean.
And of course, yes they need to watch their backs afterwards for the rest of their lives.
Yeah, what happened to "revolutionary" and "game changing"? Hahahaha!!!
Jail time for Dean, Chris and Mike coming up. You can leave IMGG all you want Mike, but you participated in the scam with knowledge that it was exactly that. This make you complicit and eligible for a pretty orange jumpsuit.
Unable to trade AH myself....will have to take them in the morning. Hoping for a dead cat bounce to salvage some.
R/S is coming guaranteed. 3:1 to 10:1 range.
Dean can not keep his lies straight.
Dean is going to jail. So are Mike Nessen and Chris Sohn.
FACT!!