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Wednesday, May 14, 2014 10:44:07 AM
MG is required to report ANY changes to his position in NAVB stock upon there occurrence.
Insiders, and 10%+ holders also are required to notice the public of sales, and their intentions to sell amounts above SEC defined limits.
PM operates numerous entities, including derivative and arbitrage (short) hedge funds. They must report collectively regardless of where/how they transfer among the funds. Although they have yet to report Q1 holdings, refer to their recent filings for other stocks to better understand their latest collective reporting approach.
Regardless of their often “3-card Monte” tactics with shares; P-share conversions of any type represent shares coming off the shelf and therefore dilution to the common shares and have either a direct or indirect negative effect on the SP. All common shares find their way to market in one way or another and the market cap.
PM, other than from August-December 2012, has voluntarily stayed below 10% common ownership to avoid the significantly more detailed and more frequent reporting requirements. There are significant advantages to P-shares (other than voting power) compared to common and no reason on earth to convert unless they are being disposed of in some form.
Although MG has agreed to “not direct/influence NAVB shares owned by PM….”; there is no agreement that he cannot or will not continue to be paid by PM. He is currently PM’s designated representative on the ECTE BOD and is currently waging a proxy battle along with his cousin to gain control of that company due to PM public dissatisfaction with management. MG’s most recent proxy threat against NAVB was 3 years ago and was settled w/o a full on battle by adding 2 PM designees who continue to serve today.
The NAVB balance sheet cannot support a chronic negative equity situation and the cash available on the PM LOC (funded by all of us care of PM conversions/sales in 2012) is not free. The likelihood of debt restructure (rather than stock off NAVB’s shelf) is highly likely this year IMO. The upside is the obvious positive equity and debt elimination. The downside is a new ton of P-shares to PM and/or their permanent appointment to control our BOD. Anticipate cost reducing measures as well – not a bad by-product to get us to cash positive sooner. Love ‘em or hate ‘em…just get more used to them…they’re not done yet.
Finally, regarding the yet-TBD disposition of all those recent conversions (including the latest round in April), one more possibility is a sale to another non-PM institution. IF, another institution has gotten in the game at a cheap entry price, a net positive for us. Keep in mind that an “accumulating institution” may file a CT order and not publically file holdings with the SEC until there position is complete. Regarding recent volume analysis by some, keep in mind that PM via their own shelf filing may dispose of shares off market (dark pool – private sale, etc.). If this were to be the case, EVERYONE benefits.
Trade safe and BOL all
Tech/42D
Recent NAVB News
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 12/21/2023 08:32:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 11:26:20 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/01/2023 04:49:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/16/2023 09:55:52 PM
- Form 25-NSE - Notification filed by national security exchange to report the removal from listing and registration of matured, redeemed or retired securities • Edgar (US Regulatory) • 10/23/2023 05:56:24 PM
- Navidea Biopharmaceuticals, Inc. Announces NYSE American’s Decision to Suspend Trading In Its Common Stock • Business Wire • 10/06/2023 01:01:00 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 10/05/2023 08:21:49 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 09/15/2023 07:42:35 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 09/11/2023 04:15:30 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/15/2023 09:53:39 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/11/2023 08:06:00 PM
- Navidea Biopharmaceuticals, Inc. NAVB Requests Oral Hearing With NYSE Hearing Panel • Business Wire • 08/10/2023 01:29:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2023 08:23:49 PM
- Navidea Biopharmaceuticals, Inc. Presses Ahead, Embraces Opportunities • Business Wire • 07/31/2023 01:32:00 PM
- Navidea Biopharmaceuticals, Inc. Announces NYSE American Has Commenced Delisting Proceedings and Intent to Appeal NYSE American Determination • Business Wire • 07/29/2023 12:23:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/28/2023 09:10:53 PM
- Navidea Biopharmaceuticals, Inc. Hires Craig A. Dais, CPA as Chief Financial Officer • Business Wire • 07/27/2023 09:20:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2023 10:02:51 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2023 10:00:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/13/2023 09:27:36 PM
- Navidea Biopharmaceuticals, Inc. Welcomes Dana J Moss, JD to Board of Directors; Amit Bhalla Steps Down • Business Wire • 07/13/2023 09:09:00 PM
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