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.
Shouldn't that read "undisclosed offer" ?
Apparently it's a personality flaw with Mr. Cook. At least there is now a definitive answer and one more question has been put to bed. Thanks for the effort on this.
Pure speculation on my part here. It looks like the Amazon listing and all the other matters, seem to point to the creation of a firm foundation for DECN. But, Berman and company have no intention of holding and running this operation. This company appears to be being groomed for sale. If you agree or disagree, please save your typing time in responding to my posts. I'm not as informed or involved as the rest of this board. This is just a random observation that I am curious about.
The category of disinterested was what I meant. A simple "news" article about what is happening. No hype. No opinion. Just a straight fact dump. I think this tort would be of interest to the market when combined with the recent $417M decision J&J just had to swallow on the baby powder lawsuit. J&J seems to be suffering a prolonged series of defeats in court. Accesswire is a paid to publish site. They print whatever you send. According to what I've found, they don't verify any claims. They appear to be nothing more than a bulletin-board. As for the attorney for DECN. Nothing but crickets. Apparently Mr. Cook is not concerned about his status being accurately conveyed to the shareholders.
I mean like anybody. This info seems to only be showing up on a site that DECN paid to get it published. If there are other sites that are covering this, please direct me to my oversight. It would help me immensely. With all the accusations of misdirection, casual accounting and outright lying be thrown about, a disinterested 3rd party commentary would be welcome.
Why is this out on AccessWire again? Doesn't any other services consider this info news worthy? This type of "reporting" raises questions with me. Why does recent news on DECN only seem to appear on a site that DECN pays to publish the article? It would be calming to see another service print the info, as it would lend some credibility to the story. As this is a paid article, there is a likelyhood that it could be simply smoke and mirrors, as other releases have been labeled. On a second subject. I have not, as of yet, received any response from Mr. Cook as to my query of the current status of his law license with the Nevada Bar. His status remains in question.
At this stage, all I'm trying to determine is Mr. Cooks' status with the Nevada Bar Association. One question at a time. From the source.
We're about to find out. I sent the question to him directly. No more second-hand speculation.
You're correct. It does say that his license is still suspended. However, the text of the suspension (which I read from your previous link) says that it ended on July 31. Is it possible that the state site is not up to date? I don't see any references to additional disciplines. How does this happen? We've all dealt with the lethargic state governments before. I think sloth is a more likely answer. You can hold your own opinion.
According to the link you supplied, the suspension was a 30 day suspension. I'm not aware if Nevada announces the end of a suspension. I would suppose that they didn't. So As of July 31, 2017 Mr. Cook was back in practice in the state of Nevada. As for the actual infraction, it reads like he dropped the ball on a clients case. As such, the restitutions seem small. I'm quessing that this wasn't a serious matter. That would be the answer as to how Mr. Cook is currently advising DECN. Hopefully, one muddy puddle cleared up.
Assume the preferred shares were earmarked in March 2017. They can't be converted for 3 years after the date of issue. Assuming some devious unsubstantiated plan by the BoD. The earliest this shares could "multiply" would be March 2020. Unless.
"Holders of 2012 Series “D” shares may not convert these shares into common stock until the expiration of a 36 month holding period, unless the holder has received an extraordinary allowance to convert shares earlier by the company’s Board of Directors."
So I would guess the item to be looking for is, who the shares are issued to, and wheter there is a likelihood that they would get that needed extraordinary allowance.
The offer wasn't refuse, but it was also not accepted. That comes down to "I'm listening.". The following line from the latest P/R "The company has been informed that another offer may be made in the coming days by another type of M&A partner." indicates that there may be 2 potential suitors for DECN. A possible bidding war? So I would guess that the sound strategy, at this point, would to be to sit back and quietly watch. My only questions are, based on the multitude of comments questioning the honesty of the BoD, is this P/R legitimate or just another distraction? And, how much is the $5.75M financing going to end up costing in the endgame?
"KB told me recently that there are less than 20 shareholders who own more than 100,000 shares and the company keeps in touch with most of them or they keep in touch with the company." I think this statement is suspect too. 880,000+ shares and I've never heard from anyone at DECN. And about what? Recent comments here have brashly stated that Berman and the BoD have no obligation to clear anything thru the shareholders. I tend to agree with this view. However, posting fraudulent PR releases may be pushing the envelope with the SEC. But then, are they really fraudulent? This company is like playing the little floating ducks game at the carnival. You know there's a winner in there somewhere, how much are you willing to spend to find it? Keep track of the statements. Compare the realities. Make your best decision. Welcome to trading.
The e-mail wasn't redacted. It was rewritten at best, fabricated at worst. A redact wouldn't have the error in the very first line of the header.
"From: KMB [mailto:kberman@ "
This is a system generated text line. And yet the system has said that KMB sent an e-mail to himself. Look at the "mailto". Why/how does the e-mail app generate a conflicting route? In addition, the "To:" line would have Lyons DECN e-mail address, if it was sent from a company terminal. The questions outweigh the answers. Not one of the bashers, but this does raise concerns. Will wait for the 7/24 annoucement and read it carefully.
Again, the point is not about the resignation. The resignation is done and over with. What Mr. Lyons does now, i do not care about. The point is the inconsistencies in the letter. This doesn't look like it's the real letter/e-mail. No date of termination. No signature. Reversed e-mail addresses. Conflicting e-mail addresses. Just saying that on its surface, it looks suspect. Why they would do this, I don't know. But without a valid signature, it is absolutely invalid. I've spent enough time in court on contract disputes to know that. The only question I have is why an obviously fabricated e-mail? What do they gain? What's the risk/reward balance.
With all the inconsistencies in this short e-mail, credibility is being strained. That the BoD has accepted Lyons' resignation isn't the point. The point I'm trying to make is, that the errors are in a section of the e-mail which is entered by the e-mail system (the computer), not the user. Watch to see if this becomes another boomarang departure similar to the last one. This e-mail has all the hallmarks of being a fake, as noted by your concerns over missing info.
Go read the resignation pdf again. Specifically, read the header. The FROM - TO titles are reversed. If the header is correct, Berman sent this resignation letter to Lyons. That would make this resignation letter invalid. Anyone have any speculation on how this happened?
I had read a conversion rate of 14:1 for preferred shares. Is this accurate in your estimation? If it is, then we're talking about 610M shares after conversion. That would still put the share price at about $0.65/share. Assuming the $400M still, and also not counting sales. (Big holes there) I think the legal action is strong based on J&J's tactics which are standard legal delaying actions. I haven't seen anything which indicates that the courts position on the first findings is going to change. I'm optimistic on the outcome. August numbers will be important towards determining future viability.
Options shouldn't effect the share price. They don't add to the number of shares available. The 40M preferred though. Total shares issued is 90.88M. The float is 79.52M. The delta is 11.36M, still held by the company. The 90.88M number supposedly covers all shares available including restricted shares. So where are the 40M preferred hiding? As I said, this is just speculation based on numbers previously mentioned in these posts. But even in the most lean estimates, I think that $0.25 is ridiculously low. The IP has to be worth way more than that.
Speculation on the final number for the J&J issue, on the low side, is $400M. Without any reality factor added in, 90.88M shares equates to $4.41/share. Cutting the low end of the optimism in half puts it at $2.20. Earnings are supposed to be released in August. The product appears on Amazon as a "Preferred Product". I don't think that I've been overly optimistic about the valuation. But thank you for the opinion. It will be interesting to see if this is even selling. If there appears to be a big rush to close this mystery deal before the August earnings, beware.
Go read my post at #46018. Tell me if you think I'm far off the mark.
Agreed, this should be watched carefully/intently.
If they assess the future value (potential) to include the J&J outcome, assuming a win, this company is worth about $4.41/share on just that number. (Assuming the lesser of the speculated settlements/awards of $400M. 1% of the worldwide diabetic supply market.) The current share count is 90.88M. What would that be after the conversion of the premium shares? Assuming a 14:1 ratio for conversion. Add in a reality factor of .50, and this company is still at about $2.20/share. Court costs are already covered by the previous award, and deposited with the legal firm. All of this is my speculation based on comments read previously from various posters. This is not meant to be a definitive calculation. Please do not go asking for links. This is just from general recall. $2.00/share seems to be a reasonable number as it doesn't even include future sales.
I've been watching and hoping this company would turn around for some time now, but, I've got to align with the naysayers on this one. Based on previous events and timing, this looks like a long con. What follows is purely my opinion, no facts. I think this is going to be the last big con. I expect that the premium shares will be converted quietly and sold off thru continuous PR hype about the coming glory days. Once that is complete, there will be another bad turn of events and the share price will tank. After this one though, there will be nothing left to try and salvage. Watch for IP being sold off. Watch for the company to be gutted of anything that can be sold. I don't want to support the idea of another scam, but it has all the ear-markings of the previous deceptive dealings. Mysterious offer, mysterious buyer, mysterious timeline. All happening right after the failure of the "end of Q2 event" to materialize. This can't be the event as they have said this was a surprise to them. Aren't there any SEC rules for how these things need to occur? There's too much being asked to be taken on faith for this to be blindly supported.
You've made a comment about sales picking up. I've seen the GenUltimate spots on Amazon, but nowhere else. Is there a location that I can see some numbers for current/actual sales? I've also been reading, on very recent complaints, that some "users" are saying the test strips are inaccurate. I would offer that these remarks seem to be a bit convenient considering the timing. (Maybe it's J&J's strips that are actually inaccurate.) Anyway, all speculation at this stage. I would like to know if there's a way to verify, thru Amazon maybe, the current sales. Is the product line moving?
If, DECN picks up 1% of the worldwide test strip market, that equates out to about potentially $910M annually. In the USA, this cost will eventually be regulated by the government. Starting with a lower price and higher accuracy places DECN in a good position to benefit. Many of the statements made by KB haven't panned out. Many are questioned as even being real. This stock is a gamble on all levels. But with the devaluation it's seen over the last year, you might as well wait it out. Recent comments about sales on Amazon have been mixed. My observation has been that the "customer" comments seem fairly evenly split. The only curiosity is that almost all of the negative comments seem to align with published good results for DECN. In short, they look like they're faked. The biggest negative remark being accuracy. The negative comments all assume that the competition is accurate and DECN is in error. Again, too focused of an attack for me to take as credible. I'd like to hear from others about DECN's manufacturing ability. Are their CM's all set to go, or are they setting up? This will greatly determine the sales potentials. I've included a link to a brief health article to support my numbers. I'm not claiming infallibility, just that this, is some of my info.
http://www.healthline.com/diabetesmine/the-stinging-co
All of the negative reviews seem to be within the last 3 months.
Are there any indications of the volumes being shipped, or to whom they are headed?
I think that this is a simple matter of the case moving beyond or outside of Mr. DeCinque's level of expertise. JnJ is most likely moving in their next expert for this phase of the tort. Implied in Mr. DeCinque bio is the idea that he handled the appeal, not the original defense. This appears to be no different than changing pitchers in the 6th inning and less like changing horses in midstream. I wouldn't put much faith in a company the size of JnJ panicing.
Where are you getting your info? I'm taking numbers straight from the Investors Hub page. There's no disclaimer that the info is 3 years old. If it is, then for this company the info is worthless. IMO. Thanks for the info anyway.
The float is defined as the number of shares available to trade, but not held closely, as by insiders or funds. The actual float on DECN today was 27.11M. I however, have been mistakenly referring to the total shares issued as the float. So apparently there are about 48M shares that are closely held. Approximately $3.6M. If I'm wrong, I'm sure somebody will jump in to correct the error. But that is what I'm reading.
The 75M number comes from the second chart on the ihub page "SHARES IN ISSUE". The description of this heading is "Issued shares is the total number of shares issued by the company. This encompasses all issued stock - restricted and free trading." This is where I get the numbers from.
FWIW ???
The site shows the float at 75.15M w/ 2.16 in short. So about 73M being held. 1.2M / 73M is about 1.64%. Sorry, next time I'll use a calculator. The point still being, there were trades of 2X and 3X normal volume on consecutive days recently. And today, 18K. Such large swings bear attention. As do the claims of hedge funds buying $150 worth of stock. Many things don't add up.
Nope. My mistake. It was 500K & 700K for the full day. My apologizes. But still a high number vs. the daily average of +240K. And 2 consecutive days. But the value didn't seem to climb on these high volume days either. It just raises questions for me. The same as the remark about hedge funds buying $150 worth of DECN. It doesn't add up.
Thank you for the info Cintrix. I'm familiar with partial fills. I've just never seen many this small. And this isn't the first I've seen here on DECN in the last couple of weeks. Is this just a peanut vendor dumping his vast fortune of $0.35 of DECN holdings? These mini-purchases along with the 500K and 770K purchase at the closing bell just pique my interest. For a company as broadly condemned as this one is on the boards, who would want to load up on almost 3% of the outstanding shares in a single purchase? Just saying the large/tiny transactions bear closer attention, in my opinion. At the $0.07 mark, a 700K purchase still comes out to $49K. That's not a casual investor.
Something still doesn't add up. The last trade at 14:15 was for 5 shares at .067575 per share. About 34 cents. Add to that the $4-$7 discount brokerage fee. It doesn't make sense, even to round out a holding. That puts these 5 shares at approximately $0.86 each. Why?
0.069941 Qty 2,000 ??? Who makes a bid/buy like this? Is this some kind of price manipulation? Or was it just to insure that DECN closed down on the day?
Does anyone have any speculation on the uptick in volume the last 2 sessions? Over 500K traded on Thursday. Over 700K traded today. Could the M&A company be trying to pick up shares in the basement?
That is what I read. Anybody have any further info on this? Rumored or real.
I read about a M&A that was expected to be completed by the end of the second quarter of 2017. It was in one of the 2 reports recently released I believe. June is the end of the quarter. (Perhaps it's 10 weeks off), but I did read about a M&A. I was just wondering if anybody had heard a name in the rumor mill. Or had heard a credible source say this rumor is unfounded.