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Never mind on the second “oddity”.....had a brain fart.
Recall that I had previously said that all government contractors must be registered in the SAM.gov database, and that initial registration must occur prior to award of a contract. Contractors will typically register as part of the proposal submission process. At the time I had posted that, Amedica was not registered.
Here you go:
https://www.sam.gov/SAM/pages/public/entitySearch/entitySearchCoreReview.jsf
Two odd entries. First, I’ve never seen a logistics manager listed as the business POC. Second, the first NAICS code in the Assertions section is either the product of ignorance regarding NAICS codes (someone screwed up) or a sign that they don’t currently intend to pursue medical outside of R&D.
Think you may be oversimplifying a tad bit. He has access to primo MI and DD, unlike us retail schmucks. For some reason, he took a look at SiNtx, which has a 5-year chart that resembles a waterfall, and decided that it'd be a good idea to throw a Mil of his wealth at it. If he were a known scorched earth shorter, like the previous large-stake "investors", it would make sense. This is peculiar.
If you're referring to my assertion that they are related, maybe not brothers, but apparently part of the same family tree (if the info in this site is accurate):
https://www.searchpeoplefree.com/find/hsiung-chao-hsi/22NPjaiSo5AF
Looks like a relative (maybe a brother) heads up both Relativity Investment Capital and Relativity Healthcare Partners (VC for emerging healthcare companies). He (Michael) is the President of RIC and Managing partner of RHP. Not much info on RIC, but it looks like RHP has made sizable investments. Case in point, their most recent (documented on the web) VC deal was in OCT 2018 when they invested $87M in a company called Earllens. Interesting that Steven invested personally in SiNtx.
I don’t think that SP impact would factor in. Shorts jump on any adverse news; a smaller offering just creates another near term opportunity for SP decline and would likely be counterproductive relative to keeping the SP over $1. Just odd that the offering is relatively small, and of a seemingly random (or specific depending on how you look at it) amount.
This offering will only raise $912K. Seems odd that they would choose to raise so little. Why not raise to the limit?
Is Ascentium related to Ascendiant?
What’s the connection between SiNtx and Ascentium?
The current price situation shouldn’t come as a surprise to anyone that’s been invested in or has followed this stock over the years. The RS just serves to reset the game board. We all know how the game plays out.
That's the problem with massive bureaucracies, and the reason that those in positions of power typically focus on a small handful of "platform" issues to proactively address...everything else is a massive never-ending game of whack-a-mole.
I hear you, but DOD is the wrong tree to bark up. Case in point - how long did it take DOD to acknowledge and address PTSD? USAID would be another possible source of funds. I know they do quite a bit of R&D projects related to bio safety equipment/gear for aid workers in the field. Believe they had several rounds of ebola-related Broad Agency Announcements.
I don’t see that happening. Highly trained and specialized military personnel wash out every day for any number of reasons, yet the military machine keeps on churning. You’ve highlighted a relatively isolated micro-level issue that would not resonate across the DoD unless it became a much more prevalent issue, the magnitude of which would materially affect military readiness, or it became a politically-charged issue.
Amedica was awarded a total of 105 small (single to low QTY) government delivery orders for implants, with the last order issued in September of 2017 by the VA. CTL has not definitively lined up anything with GSA, as they are not listed in GSA’s contractor database: https://www.gsaelibrary.gsa.gov/ElibMain/searchResults.do?searchText=CTL&searchType=allWords&x=0&y=0
Additionally, CTL has not completed a registration in the SAM.gov database, which is a prerequisite for federal contract award. CTL would have an active registration if they were in the process of securing a GSA contract.
Based on an internet search, it looks like CTL’s GSA exposure is via a partnership created in 2016 with a company called Firehouse Medical. Here’s an inventory of Firehouse Medical’s government contract actions. I did a random sampling using relevant NAICS/PSC and wasn’t able to find any action associated with CTL’s implants.
https://beta.fpds.gov/ezsearch/fpdsportal?q=firehouse+medical+PRODUCT_OR_SERVICE_CODE%3A%226515%22+PRODUCT_OR_SERVICE_CODE%3A%226515%22+PRODUCT_OR_SERVICE_CODE%3A%226515%22&s=FPDS.GOV&templateName=1.5.1&indexName=awardfull&start=120
Here’s a link to Firehouse Medical’s GSA contract. CTL’s offerings (Accel Spine) are a disjointed add on:
https://www.gsaadvantage.gov/ref_text/GS07F0335Y/0S2H4A.3JLLL8_GS-07F-0335Y_FIREHOUSE84.PDF
Boeing landed lucrative contracts in the past as well. How do you know that a correlation exists? Do unethical dealings occur in government acquisition? Of course they do, because people are people and some do stupid stuff. Does that mean that it happens all the time or even most of the time? Of course not. Does it mean that the system is rigged? Of course not.
Building connections is a requirement for business in general.
DoD is not a good fit for R&D funding – DoD will never care more about increasing the generally-accepted medical SoC than increasing battlefield survivability and lethality of warfighters...never. Even if Amedica were to secure a SBIR Phase I contract, development would almost assuredly succumb to the valley of death that exists between SBIR Phase II and Phase III. The VA isn’t a good fit either - they’re struggling, and failing, to provide the accepted SoC at their VA hospital network. They don’t have the resources or inclination to care about advancing the SoC. NIH might be a good fit. For instance, the following starting on P109 for dental: https://sbir.nih.gov/sites/default/files/2018-2_SBIR-STTR-topics.pdf.
The biggest impediment to gaining government contracts is getting acquisition officials to care about the product/service/idea that you’re offering. In the R&D space, great science will get you there, but only if you actually submit proposals. Outside of R&D, networking is absolutely required for small businesses – interacting with an Agency’s Small Business Director, attending Agency industry days, etc. But under no circumstances are potentially immoral or unethical connections or financial dealings required...at all.
Maybe "informed" based on your very narrow perspective, but certainly not fact.
Wow, a lot of uninformed statements being made here. First, "DoD" doesn't select proposals and award contracts or grants. Individual S&T Managers and Contracting Officers do. Neither "DoD" nor the S&T Managers and Contracting Officers likely know what Amedica is. Second, grants and contracts don't just fall from the sky. If you're curious why Amedica has not been awarded a DoD contract/grant, the better question to ask is to what extent Amedica has actually submitted proposals against R&D solicitations, and to what extent the proposal has been relevant to the topic being addressed.
Only for goods subject to the Buy American Act.
I've never seen a proposal that didn't include claims of superiority. Those claims are typically dismissed outright.
Don't get your hopes up that a GSA IDIQ vehicle equates to a significant increase in silicone nitride spine sales. A GSA IDIQ is simply one point of entry into a massive bureaucratic system.
Did Lyons leave Amedica too? I don't see his profile on the Management Team page of Amedica's website.
This would be a ideal time for Sonny to release some substantive info regarding developments in non-spine related focus areas, assuming any substantive info or meaningful developments exist. Aside from relatively limited manufacturing activities, AMDA is squarely positioned as a clinical stage company, and valuation should be heavily influenced by the pipeline vice the albatross of declining sales.
Base consideration is $8.5M. AMDA can receive up to an additional $1.5M in earn-out payments.
Food for thought:
How many companies have been acquired for a 2,500% to 10,000% premium over current market cap?
What is the biggest hurdle to overcome when negotiating a deal?
Why did Dana Lyons and Ryan long leave Zimmer? Consider the type of person who achieves the position of sales executive at a $25B market cap company, and what it would mean for that type of person to jump ship to a $10M market cap company struggling to survive.
If there is a merger/buyout, what would reasonably need to occur prior to the deal, if anything, in order to ensure "fair value" for Amedica shareholders?
No, one report states "to date", while the other states "since 2008". The reference to "8 years" is relative to the "track record". If the referenced Valeo implant was cleared in 2008, the relevant time period is clearly the same in both statements.
Not sure if this blog post has been previously mentioned on this board; if so, my apologies:
http://spineblogger.blogspot.com/2011/05/whos-next.html
It's an old post on The Spine Blogger site with some interesting comments that align with current sentiment on this board. Search Si3N4 and then Amedica for three posts in a comment chain - one of which is by the blogger - relevant to Amedica/Si3N4, Zimmer and trabecular metal.