I agree with you and this plays into my posting several weeks ago.
#23517 If it didn't happen in April it sure
If it didn't happen in April it sure happened last week on the day that 32% of the shares were traded. I would assume that somebody new now owns at least 10% of the company and will have to come forward by next week and file a 13D or 13G document with the SEC. nothing was filed
Perhaps it was a friendly party who purchased the shares last week. Maybe management knew that was going to happen but couldn't comment Let the buyer get 10% or more of the company for a bargain so that it makes their future capital infusion easier as they will then already own 10% or more of the company at a good PPS.Would prefer a buy in/with new partner having international distribution rights and MannKind keeping domestic rights
Making it easier to buy more of MannKind later at a higher price by a tender offer. makes a deal easier
The reporting is required within 10 days. I do not know if that is business day or calendar days. If calendar days that would be either Saturday or Sunday. would have been May 22nd
The potential buyer could also have a deal with the Mann Foundation to purchase their shares at a much higher price in the future. The Foundation does not want to cut and run and probably has not yet done so. Their goal is to see the company survive and Al's legacy of Afrezza change lives.
So with that in mind the potential suitor makes the investment into the company with MannKind having to do any further dilution.
I did not attend the meeting today. I was there last year. We had a very open question and answer period. The allow all the questions or statements to be asked that shareholder presented.
I learned from a person in attendance today. That Matt limited his comments. That they did not allow a question and answer period with most thought was strange. My GUESS is that they limited or eliminated that Q & A as they didn't want any questions to be asked that might have be related to the share actions of the last 10 trading days.
Since I'm only an investor it makes me wonder what is really going on as management has always been pretty open by either email or in person.
Now this posting was made right after the shareholders meeting. But you have to wonder why there was never a 13 D or G filed. I have heard that the penalty for late filing is not big or sometimes waived? But who knows if that is true.
The 2nd point is that there were on Q & A allowed at the shareholders meeting and if you recall the conference call at the beginning of May there were only read questions and no Q & A calls taken.
Since we are all just retail shareholders we will all learn about what is up when notices are filed like this morning. I would guess that we will see an SEC noticed filed at the end of today for the Matt P. and Mike C. changes.
Good luck to all of us MannKind shareholders who believe the TREND is going to be positive.
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