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My first time back here in a while. I was in this for years and see it is still sliding backwards. I was one of EKSO's biggest supporters. Still love the products and the idea but this stock has done nothing but lose long term investors' money. I made some good money early on but that disappeared over time. I decided to put what was left and some new money in 2 high dividend stocks and have made a bunch of the lost money back. Up 248% on one and 55% on the other. Maybe someday I will feel comfortable getting back in EKSO, but not right now.
I follow ST message board and it is very clear to me why this stock ran so hard on Thursday. 90% of the people on there have no freakin' clue why they were buying the stock other than the herd was buying and the price was going up. Unless more news comes out, this will drop to at least $5 and probably sub $4 in the next few months. Many believe the recent news will cause a huge revenue jump, some believe they are selling a new device to a new group of patients.
(For anyone new reading this)..While the FDA clearance will allow the current device, EKSO NR (the latest version of the previous EKSO GT) to be used for treatment of an expanded group of patients, it does not mean that every one of those patients will be buying the device. The device is not sold for personal use, it is sold or rented to rehabilitation facilities where the patients share treatment time /use with the device. Yes, some new facilities, that treat ABI (and do not treat stroke and spinal cord injuries) may now purchase or rent a device. Current customers, that currently treat stroke and spinal cord injuries could possibly expand treatment to ABI if they do that sort of treatment, may acquire an addition device or two. (not all current customers treat ABI). It will all add some revenue through support contracts for the devices. That said, the realized revenue does not warrant this huge PPS move.
Also remember that they still have authorization to issue more shares to raise more money. They have demonstrated in the past that they will use PPS increases to their benefit and issue those shares. I expect another issuance shortly. Share issuances always cause the PPS to drop.
I thought there would be a more positive response to the extension news, but I think the wording of the RS has made the company's intensions uncertain. If they intend to take full advantage of the extension, they should state that. I think the PPS would move up some, how much, I couldnt say.
Extension gives them until Sept 14, '20...that is 2 earnings reports until then.
RS was approved, extension granted...
https://ir.eksobionics.com/all-sec-filings#document-12587-0001104659-20-035326
The following statement has me unclear of their exact intentions. Do they mean the State and NASDAQ filings have been started or is the statement just part of the needed commitment they made to NASDAQ to RS if necessary. (promptly after extension runs out and they have not reached $1)...I would think they would take full advantage of the extension before implementing the RS, if not, what was the purpose of asking for the extension in the first place?
The Company intends to implement the Reverse Stock Split, which, as described above under Item 5.07 of this Current Report on Form 8-K, was approved by the Company’s shareholders at the Special Meeting, promptly following the completion of all necessary state and Nasdaq filings.
Take a look at RWLK....did a 1:25 about a year ago and is already back to .4831 (down from over $7 w/the RS)
Over 5-1/2 hours since scheduled start of the meeting and still no info...it only 2 o'clock in California though, maybe still in meeting?
Or ignore it, like I am going to do
The flaw in your calculation is that there are other manufactures devices that can be used, not all will purchase a ReWalk. Plus, new technologies are developing that will be used in some of these cases.
Released prelim results a while ago. Not expecting any big revision. CC could be interesting though, especially if the same person is there again this quarter asking questions.
If they RS I will probably sell all and then try to buy back in, 30 days later to take advantage of the tax write off for next year and then buy many more shares (with the same amount of money) after the usual decline that comes after the split. It's a gamble being out that long, it could run while I'm out. (That would be typical for me...lol)
I just wish they would come out and tell us whether or not they intend to ask for an extension. This RS vote is a required step, so that they can tell NASDAQ that they will split if needed, should they be granted the extension and still cannot meet $1, but that does not mean they even want an extension.
My read is that it is not immediately dilutive...it only dilutes share if/when they issue the shares. I take this as them "putting away for a rainy day." Read last paragraph(last sentence) page 8 of the filing.
I also believe the filing is just an announcement of a NASDAQ required precautionary step in order to be granted an extension. They must tell NASDAQ that they will RS IF the PPS does not reach $1 before the extension, if one is granted.(hence, the required RS vote) If the PPS does go above, then they do not have to RS
If no reverse split, no possible dilution. But they would then have to make contingency plans for if they would need to make an offering or cover some of the things they mention as uses for the freed up shares that would have been created by the RS. (hope I explained that right) Unless that is already taken care of when the Amendments to the Articles of Incorporation are voted on and passed.
Just wish they would make up their mind and tell us...get it over with.
Correct, I am just stating that, should they not be granted an extension the date for compliance begins Feb 28 and must stay above until the 16 Mar deadline. Also, they do not have to request an extension (does not have to be granted), they could choose to RS now and if that was the case, they don't need to have a shareholder vote for the RS. So it is POSSIBLE that they could just drop a PR on us saying "The Board of Directors has approved a 1:? RS..." sometime before the 16th of Mar.
There arer many possibilities:
1. Notice of extension granted before 28 Feb (then we have time)
2. RS announcement at any time before the 28th of Feb
3. 28th passes with the SP below $1...then notice of extension granted before 16 Mar
4. 28th passes with the SP below $1, RS announcement at anytime before 16 Mar...
All we can do is wait and check each one of as it expires.
As for the firms that sold out their share stakes, they were small firms, we don't know how long they held those shares. They have to answer to their people. it may have been that they could not hold because of time constraints or they found more attractive opportunities.
Really does not speak volumes to me. It's simply their choice and decision.
This was 9/30/19 reporting...trying to get link to current report which is list on Ameritrade
Also, remember that the PPS must be at $1 starting 28 February and hold for 10 consecutive business days, BY the 16th deadline. So, less time than most people think.
To clarify, when I said I agree, I meant that a run of 10% is possible but I am not saying it will happen. It could run a bit if they announce that they received an extension, but that will fade if good earnings/JV news doesn't follow.
If they are granted an extension and they fail to release good news the PPS will drop to where people feel a RS will set the PPS.
What is your definition of "run"? 10% from .38?..well then I agree, but that isn't saying much when we need to be above $1.00 by 16 Mar, plus we've seen that twice in the last few months and it returns back to low to mid .30's.
We need REAL news or good earning in order to make a REAL move, plain and simple.
You do realize that the insiders DID NOT MAKE PURCHASES, that was part of compensation package (it was given to them). If they had actually made insider purchases, it would be something to get excited about. So, if you loaded up because of that you may want to rethink.
Getting a bit worrisome when you see the big auto makers designing their own vests. No big contract for EKSO there.
I think the delay in customer puchasing decisions comes from the fact that they are not finished testing or are still working on tweaking the products for specific applications.
As I said in a post elsewhere, I don't believe the JV will drive sales. It does however, reduce labor/production costs which can decrease the cost of the devices or increase profit margin. Over time that helps the sales but does nothing for immediate sales.
They need sales first for the JV facility to produce.
Thank you for the posts #6191 and 6192
I was aware of that info. Actually posted some of it on ST.
I should have posted it here. It is much easier to post detailed information here than on ST.
Yes, I meant 20 May, not Mar. for the annual meeting...Thank you for the correction.
I agree that the best course would be to get extention. We are getting very close to the end of original 180 days (to get all necessary notifications etc. if they were splitting before this deadline) .
Do you know the timetable/process for getting the extention. Do they simply apply for an extention or do they need to be present at a hearing? How long does it take to be granted the extension. I could not find that on the NASDAQ page.
Thereafter, if such a company does not regain compliance with the bid price requirement a second 180-day compliance period may be
available. A company listed on the Nasdaq Capital Market may be eligible for an additional 180-day compliance period if it meets the
market value of publicly held shares requirement for continued listing, all other initial inclusion requirements for the Capital Market, except
for the bid price requirement, and provides written notice that it intends to regain compliance with the bid price requirement during the
second 180-day compliance period, by effecting a reverse stock split if necessar
What happens if a company does not regain compliance with the minimum bid price requirement during the compliance
period?
Identification
Number 358
If a company is unable to resolve its bid price deficiency during the applicable compliance period, Nasdaq Staff will issue a delisting letter.
At that time, the company may request a hearing before a Hearing Panel, which will stay the delisting.
The company will have the opportunity to present its plan to regain compliance to the Panel. This plan of compliance should include the
implementation of a reverse stock split in the near term. In appropriate cases, and so long as a company commits to implementation of a
reverse split within 180 days of the delisting notification, Panels may also consider other factors, such as the company's fundamental
financial strengths and weaknesses, the overall market conditions, the company's historical bid price, and impending disclosures,
corporate actions and strategic business plans that the company believes may impact its bid
Looking for opinions....
Judging from past dates
The annual shareholder meeting will be around 20 June '20 (I am guessing they could move that forward if needed, due to a required vote on a RS if the split is needed). They would announce the meeting and it's intentions about 30 days prior (20 Mar)
PPS must be above $1.00 for 10 days prior to the 16 Mar'20 de-listing deadline.That means they must apply for the 180 extention sometime before 16 Mar unless they do not intent to use it and go staight to RS.
In the case of RS, they must send notification of intent to RS and announce the date of the shareholder meeting to vote on the RS. Again that announcement should come about 30 days prior to the meeting. So that would put us at a few days before 16 Feb at the latest, probably much sooner.
Earnings report will be somewhere around 28 Feb'20. There are only 2 things that could move the PPS above $1.00...good earning report or JV announcment. Looking at the timing, that would be too late if they had to announce a RS vote. That said, it looks like we are looking at 2 options, they file for 180 extension in order to get to June shareholder meeting to vote on RS or they have to announce special meeting of shareholders very soon to vote on RS before 16 Mar deadline is up.
So we are now looking at end of Jan for some type of announcement.
Does that sound correct?
Yes, those parts of what they had researched and developed are still classified. It doesnt lose its classification just because they are not involved in it any more. I was in the military and just because I got out does not mean I could talk about certain things. He was very clear that they have stepped away from the military side. Also the grants or funding for any of the projects would show up in the financial statements. If you look at the financial statements from years ago, it was included when they were working on those projects.
Answers the question about military involvement...
https://vimeo.com/377601286?fbclid=IwAR3wTWrUkEUoqAcpKLASDfpk2WWnjnUGmrJho22_h1IxpVrQ7FKJG_O6Spk
Yeah, I dug the hole even deeper today with 1000 at .4189.... Penthouse or the outhouse.
Not is it just not moving above .60, it is dropping! I am about to pull my money and put it into something that is moving and is giving dividends (23.62% dividend as of today).Plus PPS is up 40% since 4 Dec
I asked the same question a while ago. No one seems to know. Portions of it may have been incorporated in current devices. There are many things they have mentioned in the past that I have heard no updates about in a year or so.
Will anything move us above .60 and beyond?