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TOPIC: Sabby ownership

Sabby ownership 13 May 2016 18:51 #7007

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At the end of Q1 Sabby still owned 7,305,690 shares

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Sabby ownership 15 May 2016 13:34 #7013

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myownhedgefund wrote: At the end of Q1 Sabby still owned 7,305,690 shares


At Nasdaq they converted that to the new situation now-



Just as a fact which is noted- Sabby went down from almost 10% to this level, which is below 4% ownership of Cytori.

Sabby should have reported sliding under 5% which is a SEC requirement, which they did not adhere to. They are obviously crooks (which everybody was aware of all the time) - still Hedrick & Co are very close to them and spend time with them at sporting events.

This all stinks like hell- I presume when they report as of June 30 2016, they will have sold out- unless unless..... of course the Rights Offering fails as can be projected at present prices and Hedrick- the slut has to visit his pimp again. :evil:
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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Sabby ownership 16 May 2016 21:52 #7025

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Nice to know that I am a major player in CYTX ranking as its 11th largest institutional investor :bash:
I wonder if that gives me any particular leverage with the management. :cry:

The opportunity for existing investors to participate in a rights offering which is something I fully back(ed) is fast degenerating into a farce. Why would anyone buy a share at $4 when it is trading at $2.45. For all the craziness I would pay over the top to fund these guys IF it was assured that the funds raised would be sufficient to see us to the conclusion of the STAR trials with definitive data. With this management pulling down these salaries and no skin in the game that is highly doubtful.

There is a huge number of shares in the hands of retail investors, or they have been accumulated by someone, somewhere, somehow....... nobody knows. How can anyone rationally expect them to put up hard cash with such a poor track record on the part of management?

What I do know is that they need more money, but how much is enough?. The way this rights issue is being handled along with the R/S is most depressing. I fully appreciate Fas' fear that these developments are the product of a conscious conspiracy. It seems hard to believe that with such a promising technology and trial data to date a partnership agreement cannot be concluded. It is also very difficult to understand how organisations such as CIRM have been so reticent about funding this technology....... here is a question for those seeking proof of negligence or worse: Has Cytori ever requested funding from CIRM since their procedures were reviewed and made more flexible?

There appears to be a concerted effort to right the ship and succeed with scleroderma. The Phase II OA trial data and BARDA are positive as is Japan. But for us shareholders, at best it appears a case of too little too late. We (our capital) has been sacrificed for the greater good...... as perceived by management. I still believe that the technology will eventually breakthrough and succeed. However, my participation in this breakthrough will have been diluted to such an extent that I will be lucky to get back a respectable portion of what I have invested (forget about a positive return), or at worst the technology and patents will end up in "new" investors hands for a pittance and we will be out in the cold.

Management has always recognized the significance of the tech and has been determined to be there at the end, to enjoy the benefits, all while being very well paid. They have at different times given past colleagues the opportunity to profit in the future from their (our) efforts eg, Puregraft, Alopecia etc ........... just waiting on CC.

Lets face it, a deal with a well funded partner would have been a problem. They would have taken control eventually and this was not acceptable to the dream team - their dream our nightmare. :cry:

After the last massive dilution one would have thought they would have learn't their lesson. I guess they did ............. you can have your cake and eat it too, if your management. Should have guessed were this was going with Maxim advising on the rights offering :puke:
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Sabby ownership 17 May 2016 11:14 #7038

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Rongside wrote:

Management has always recognized the significance of the tech and has been determined to be there at the end, to enjoy the benefits, all while being very well paid
you can have your cake and eat it too


I said before that these guys have gone to the well too many times and that they had dried up the swamp with their greed and arrogance. But alas there are a plethora of suckers out there and they are determined to find and fleece every last one of them. In my situation now the more the merrier. Bring on the clowns as far as I am concerned.

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Sabby ownership 18 May 2016 05:34 #7040

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rongside wrote:
The opportunity for existing investors to participate in a rights offering which is something I fully back(ed) is fast degenerating into a farce. Why would anyone buy a share at $4 when it is trading at $2.45. For all the craziness I would pay over the top to fund these guys IF it was assured that the funds raised would be sufficient to see us to the conclusion of the STAR trials with definitive data. With this management pulling down these salaries and no skin in the game that is highly doubtful.

Management has always recognized the significance of the tech and has been determined to be there at the end, to enjoy the benefits, all while being very well paid. They have at different times given past colleagues the opportunity to profit in the future from their (our) efforts eg, Puregraft, Alopecia etc ........... just waiting on CC.

After the last massive dilution one would have thought they would have learn't their lesson. I guess they did ............. you can have your cake and eat it too, if your management. Should have guessed were this was going with Maxim advising on the rights offering :puke:


Yesterday´s market action showed some power and the big question is really- will those positive driving powers prevail or will Sabby and other shorts manage to get their way again and drive this down to make sure that few shareholders subscribe to the Rights Offering. At present I think (almost) everybodies problem is the greedy nature of Management- whether they participate or not, is for me not an issue, since its clear and sure that they will . Of course -the size of the bonuses paid at the end of the quarter will guarantee that. My issue is simply similar as DOV´s - I do not want to pay bonuses for this crew which drove the Company into ruins, disowned the early investors and at present act as the greedy bastards, they always were and apparently still are. Its simply not fair.
Despite all that- I am sure Cytori will succeed regardless- the seeds are sown and will sprout. So - I guess I kind of will participate - assuming it makes economic sense -UNDER PROTEST and simply will hope that DOV´s initiative will be a success.

On all former employees trying to participate in the action- surely CC will come and surely Hedrick and him, will find a deal. They both know that some large investors know the value of the technology from NDA days and Saiichi, so surely they do not want to "invite class action a la RothCo". maybe its the best way- have shareholders participate at these prices- close deals with partners with their money in their pockets and deal from a position of strength- all unlikely but is a possibility. :whistle:

These next days/weeks will be very interesting- anyway I hope to be able to round up the required funds - positive thing is- I have no penny debt in this world. Negative- banks do not like retirees, even if they have an excellent pension. :puke:

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Sabby ownership 18 May 2016 07:35 #7042

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This is a quick note to all, which will be followed up in detail as soon as time permits. I received a telephone call from Sal and Paul yesterday morning. I explained my position on the rights offering - that if the company were to announce the adoption of a deferred compensation plan whereby all cash bonuses would be deferred until such time the company can pay them from positive cash flow, I would not only participate, but I would contact all of my brethren and recommend their participation in the rights offering. I have posted my spreadsheet on this board, but did not include my 9 page summary of Cytori (which I titled "The Next Four Years"). I sent both of these documents to Maxim saying "the spreadsheet is far more accurate than Jason's". I think I heard a chuckle in the background!

Immediately after this telephone conversation, I was patched into a three way conference call with Marc Hedrick. As one might expect during a solicitation period for capital, the floor was wide open. The call lasted for about two hours and the conversation covered everything and in great detail. The quick take-away was that my spreadsheet has very reasonable assumptions for the out years showing the revenue ramp after conditional and full approval in the EU and the USA, and Japan. Due to the broadened ODD, my assumptions for late 2017 and all of 2018 are conservative. For example: Cytori is treating a few patients under the compassionate care laws in Europe. The are getting $50,000 Euros ($65,000 USD) and get this.....IDIS only gets $1,000 per patient. (IDIS has n't started treating patients just yet, but that is the arrangement.

The bottom line is the company is approaching breakout revenues and ever expanding indications within the scleroderma platform. This funding (if successful) will provide enough cash for this to be the last round of dilution. Any partnership revenues would just provide cushion (and more bonus payments :bash: ) The very ugly truth is the shares outstanding will be close to 21 million by the end of 2017 (315 million in reality).

One other interesting clarification from yesterday: It has been decided that the method of stem cell administration in the burn trial will be injection into the arm vein. This was first revealed on the May 10th CC. Previously, injections in and around the burn area were compared to spraying the stem cells on the wound. The IV injections was new to me. The cells "home" to the wounded area and perform their magic from the inside out. Fas, I think you would be excited about this since the FDA would get exposure to the safety of whole body injections to treat whatever ails you!

While I continue to believe the stem cell story and in the future success of Cytori, my position/recommendation on this rights offering remains firm. It is true that 100% of the BOD will participate along with 100% of the executive team to the degree that each can and desires to participate. My stance is about deferring the cash bonuses that, in my opinion, are awarded based on the wrong criteria. I have no problem rewarding performance when performance is measured by the creation of value (past tense).
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Sabby ownership 18 May 2016 08:21 #7043

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DOV
Wait to you see the bonuses when the cash starts rolling in...LOL :really:

It will be interesting on how they determine who qualifies for the IV route for burns therapy.

Just because there is a burn injury doesn't mean there aren't other areas of the body that need repair.

Example #1
Patient in a house fire receives 15% burn but breaks his leg jumping out a second story window.
Where do the cells go ?

Example #2
Patient with history of COPD receives burn to upper body due to smoking while wearing oxygen.
Do the cells try to repair the COPD or burn ?

Its not all clear cut....many potential comorbidities. How do the cells decide ?
Even if there is no comorbidity, is there a dosage scale based on the size of the burn ?
I am guessing this is why lactated ringers was used as a control for the spray application because IV testing was also running quietly in the background ? :bash: I still don't get that one.

Based on your new outstanding share count I assume you now project $1.02 in earnings for 2020 ?

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Sabby ownership 18 May 2016 08:42 #7044

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Fas not understanding why you are hyped about yesterdays market action. It just shows that Cytori is nothing but a haven for day traders. The stock closed down after hours and this morning the profit taking continues. I am not sure how you and Dov, can believe anything that you are told by management. How can you possibly have faith that this time is going to be different, just because they say so. I'm sorry but I just don't get it. We continue to sit by and do nothing but enable this behavior. When we sit with Mark and Tiago we are only told so much, I have to believe that the Sabby's of the world that control Cytori are told so much more. The reverse split was done for the likes of them. The majority of the 18,000 shareholders were against it. The control of the stock and the decisions that go along with it are made to benefit a select few. The last rites offering is ill conceived and the manipulation will continue. :puke:

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Sabby ownership 18 May 2016 09:48 #7045

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Dov,
Does this analysis make you want to run out and tell your friends to support Last Rites Offfering
www.capitalcube.com/blog/index.php/cytori-therapeutics-inc-cytx-us-earnings-analysis-q1-2016-by-the-numbers/

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Sabby ownership 18 May 2016 11:06 #7046

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Thanks DOV for the update and keeping up with your initiative. It is VERY important to me- after seeing whats gone on at MacroPore/Cytori for over the past 12 years now ( I was non-inquisitive shareholder for 4 more years) . One question- I thought I knew everybody at Cytori, I presume Paul is Paul Hawran, but who is Sal?

Michael- yesterday´s action just told me that there are some positive elements working for the stock also. Who wins in the end (that is before June 9th) remains to be seen- I am not a thieve of my wallet, by no means- neither do I want to pay for Hedrick bonuses if the economic case is a toss up.
In my (very) young years I also worked in public accountancy and know what Hedrick & Co tells its shareholders in respect of regulatory achievements is NOT pie in the sky. Since I know what the tech is worth after studying it now for 9 odd years or so- I will stick to Cytori and Hedrick et al and will call them greedy bastards until they prove me wrong ( I might even apologize than). Mind you- Cytori is not the only miniscule biotech/regen small cap with that issue.
Anyway- as I wrote - the next weeks will have a lot of suspense- look forward in accompanying them, even when one week of them I will be on holiday and mainly travelling. :grin: :bye:

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Sabby ownership 19 May 2016 07:07 #7055

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Fas,

Salvatore Fradella is a VP at Maxim. Paul is another VP there. I was on their call list. I spoke with him again yesterday and he informed me they like my idea of creating a Deferred Compensation Plan and have taken it to Cytori. That is progress, but until there is a public announcement, I am not interested in the rights offering.

Should this announcement occur, I will post my 3/31/2016 Summary Paper and my updated spreadsheet as well as send out a recommendation to my group to participate as each feels comfortable. I do not have as much influence as I once had, but most of my colleagues have stuck with their investment in Cytori and continue to believe in the healing power of the ADRCs. This stock offering will be sufficient to fund the company either to STAR published results or break-even depending on the amount raised. $15 million to $18.5 million is the range, respectfully. Small partnerships should be signed over this time as well to add a cash cushion.

One the the biggest misunderstandings out there is that the deal will be priced at $4.00 per unit. That is not true. That number was a placeholder only. The Unit will be priced prior to June 9th at a market price and the warrant will represent a discount to the market price for existing stockholders. There will be a fixed number of Units sold (5 million) so the amount of money raised is unknown at this time. $15 million net proceeds gets us to break-even, I was told. The warrant has a call feature which adds a bit of complexity. In the first year, the warrant cannot be called so if the stock goes to $100, the warrant will be worth something around $96. After the first year, if the stock trades above $12 for 10 consecutive days the company can force a cashless exercise. Under this scenario, there is a wide range of valuations. If the stock is very high on the anniversary, then great, but if the stock just lifts above $12 after one year, the warrant holder will, in effect, have a cap of the warrant's potential value of around $9. Since the warrant will trade on the NASDAQ, the time premium at various prices will be interesting to watch. This structure rewards early exercise of the warrants and brings cash into the company sooner.

Hedge, the final revision of the spreadsheet will be after the deal is done and the shares outstanding is better known, but a draft revision shows:

2016E $(.96) $(.064)
2017E $.25 $ .017
2018E $1.43 $ .095
2019E $10.87 $ .72
2020E $17.46 $1.16
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Sabby ownership 19 May 2016 08:37 #7059

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The bonus issue would be a biggie. Symbolic to a point, but also aligns management with actual results. Imagine that !!! So much has been wasted over the years. This would at least be something showing a shared sacrifice going forward....barring regular salaries to take a surprise leap.

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Sabby ownership 06 Jan 2017 20:16 #8445

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Sabby ownership 07 Jan 2017 11:35 #8449

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Sabby sold 111,011 shares in the 4th quarter. They still own 1,651,835 shares or 8.06%. They only buy when they can steal and arbitrage.
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Sabby ownership 07 Jan 2017 19:48 #8453

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That's the way I read it DOV, however, I also read it as a lot of supply above.

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