reading through the recent filing held some diamonds shining,...
Item 4.
Purpose of Transaction.
The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
Last year, Broadfin Master and its affiliates (“Broadfin”) led a successful campaign for the election of Gregory D. Casciaro, R. Michael Kleine and Samuel E. Navarro to the Board at the Issuer’s 2014 annual meeting of stockholders.
Despite the valuable contribution of Messrs. Casciaro, Kleine and Navarro, a year later, the Board has failed to enact the real and positive changes that the Issuer’s stockholders demanded through their overwhelming support for the election of Broadfin’s candidates. Broadfin believes that the change of a minority on the Board has proven insufficient to maximize the competitive advantage of the Issuer’s valuable technology and drive meaningful value-creation for the benefit of stockholders.
Accordingly, on September 4, 2015, Broadfin delivered a letter to the Issuer nominating Thomas A. Afzal, Richard M. Ferrari, ***Kevin Kotler, Paul Molloy, and Jeffrey A. Templer and re-nominating Messrs. Casciaro, Kleine and Navarro (together, the “Nominees”) for election to the Board at the 2015 annual meeting of stockholders (the “2015 Annual Meeting”).
***Kevin Kotler is Broadfin's CEO. so CRDC will have a hedge fund manager on th BoD.
AND,...
(b) By virtue of their respective positions with Broadfin Master, each of Broadfin LP, Broadfin Offshore, Broadfin Advisors, Broadfin Capital and Mr. Kotler may be deemed to have sole power to vote and dispose of the Shares reported owned by Broadfin Master.
talk about a captain in charge of the CRDC ship !
Kevin Kotler is taking charge of his investment. Hausen is out and anew CEO is arriving.
invest at your own risk, based on your own due diligence, at your own risk tolerance
