What does it mean if Sintx largest investor both pre-IPO and again recently had been posting, indirectly or directly, on social media bashing Sintx between selling off back in 2016 and officially being a shareholder in 2025? I ask this because Mr. Kipke of Medtech said the following on Stocktwits:
The truth is, up until 7 months ago, SINT WAS NOT pursuing partnerships. The prior management team and governing board ran SINTx like a research lab - not a for-profit public company. They filed a lot of patent applications and secured an impressive intellectual property portfolio, but they didn't focus at all on mundane details like revenue or earnings.
The part about Sintx being ran like Sonny's personal research lab is something thats been said several times here and I think Cafepharma even; i know JoeV2 said this and not positive on Atlanta & Madg. Seems a little too coincidental several different accounts said the same basic thing especially when its not fully accurate; its a partial truth. Yes Sintx was being used like a research lab and it seems it went public to fund that...or really so its core investors could make money shorting the stock and harvesting cost basis while Sintx was in this "research only" mode. However this wasnt Sonny's personal lab, he's just a minion following a directive which I believe originated from Zimmer. I say this based on Sonny's ties to Zimmer and the research Biomet and Sintx had been involved in on and off. Also, Sintx has had partners in place even if they were not "looking for them". In fact, you dont bother to look for partners when you already have them feeling comfortable running your company like a "research lab" knowing the big payday will come eventually.
While you ponder the above, here is something else to consider, just how lucrative cost basis harvesting can be. I participated in Sintx 2022 rights offering receiving units containing preferred shares and 2 classes of warrants; one of which just expired last year. I only invested 11,000 in that receiving 11 units consisting of 11 preferred shares and 6,622 class A & B warrants each. After the first reverse spilt (100:1), the cost basis per warrant increased to $15.1 i believe. After the second reverse split and a wash sale, the cost basis jumped to 1,000 per warrant but for only part of my warrants of each class. While I do not understand why the cost basis didnt grow to over 3,000 per warrant, my overall loss on the warrants that expired in 2025 was almost $30m; curious what the IRS will think when they see that. This was only for 1 of the classes of my warrants mind you. That means that if I had $30m in capital gains in 2025, that I would not be taxed on any of it now or into the future if I didnt. All I had to do was hold onto these warrants through two insane reverse splits. Now replace me as a variable and put Medtech or one of Ansons family of funds in my place with significantly more warrants. You're talking hundreds of millions in Tax loss they would have after a reverse split; I believe Lind had over 14m warrants in 2024 before the 200:1 reverse split. Half of those warrants expired in 2025 a mere eighteen months later. Whats .25 (original cost basis) x 200 x 7,150,000? That means that Lind cost basis per warrant became $50 per warrant and they had a write off of up to $357.5m for 2025 and should again by 2029. I wonder if Medtech was involved in that offering as well? Im sure it participated in the rights offering.
One last thing, remember it was Atlanta that told me to sell January 2023 before an offering which caused the stock to drop from around $8 to $2s. He said he was sorry for my losses to come as if he knew the 200:1 RS was planned for. Nothing justified what happened to Sintx stock from 2H22 to 2024 nor whats happening atm. Serious issues of fiduciary duty, shareholder oppression, and deceit.
AI
