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Hold, Buy, or SELL 11 Sep 2014 09:32 #2149

  • Jack Schwartzberg
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I have been a shareholder for over five years. At one point in time I was a paid consultant for Cytori, for purpose of pursuing the Plastic Surgery market. Management, consistently displayed the same lack of acumen that they have exhibited in every path they have chosen to follow.
I have now thrown in the towel. I have disposed of my entire holding in Cytori, and have converted the proceed into shares of CUR.

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Hold, Buy, or SELL 11 Sep 2014 10:09 #2150

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Good Luck to you Jack !

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Hold, Buy, or SELL 11 Sep 2014 10:28 #2151

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Jack,
I feel your pain. Many stalwart CYTX investors have been disilusioned by the "performance" of this company. Good luck with Neuralstem. I hope Cytori gives you a reason to come back in soon. I continue to believe that the science of the company can keep it from self destruction. Right now I feel stupid. I hate that.
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Hold, Buy, or SELL 11 Sep 2014 11:00 #2152

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Jack, were you consultant for the introduction of plastic surgery procedures in Europe? That started Q2 2008 If I recall right.

You must have worked closely with Bruce Reuter, I presume? Any comments you can make on that period for the sake of "historic documentation" since that business has been transferred to Bimini anyways?

Thanks

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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:

Hold, Buy, or SELL 11 Sep 2014 12:28 #2153

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Fas,

My project was focused on the Plastic surgery community in the U.S. I recruited 60 top plastic surgeons in the U.S. Most were academically based at leading universities throughout the U.S. Our medical director was the former President of ASAPS. He successfuly recruited the most prominent plastic surgeons in the country to play an active role, and serve on our Medical Advisory Board. I worked with Chris and Brian Strem. Our company, Bank on Stem Cells, was going to act as the marketing arm. We intended to spend upwards of $2 million on a regional advertising campaign. We had very little support, financial or otherwise from Cytori.

I might buy back in when I see evidence of a capable mgt team in place.

Jack

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Hold, Buy, or SELL 11 Sep 2014 12:31 #2154

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Oops, typo. meant to say $2 million

Jack

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Hold, Buy, or SELL 11 Sep 2014 12:58 #2155

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Thanks Jack. (By the way- a $ sign on this board represents html code and swallows the next x-numbers- so a blank is required after the $ to make it a letter again)

Could it be that we were in touch in the early days by mail? I do vaguely recall some questions i.e. my assessment on cryo-preservation of fat cells from those days.

Anyways- with the regulatory issues on Celution in the US, that project was quite a challenge. You simply cannot act like -as an example- Todd Malan and his Cell Surgical Network friends and pretend to know nothing of the laws of the country. Long-term that would not fly IMO.

I still believe- the former management was simply too greedy- wanted too much for the tech and received bloody noses which the shareholders are paying for now. I think Rickey will be more realistic and "street-wise".

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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:

Hold, Buy, or SELL 11 Sep 2014 14:38 #2156

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***Todd Malan and his Cell Surgical Network friends and pretend to know nothing of the laws of the country***

I agree on long term...but what really is the definition as they have been going and growing for quite some time now and completely uninterfered with by the so called rule setter FDA !

***I still believe- the former management was simply too greedy- wanted too much for the tech and received bloody noses which the shareholders are paying for now. I think Rickey will be more realistic and "street-wise". ***

Agree that Rickey essentially running the show at the moment but where was the BOD and Rickey when these other deals were being pursuede and they kept rewarding CC's failures ? I also believe the addressable size of the market for various applications is going to be less that once thought.

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Hold, Buy, or SELL 11 Sep 2014 19:21 #2157

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Fas, I agree wholeheartedly with your comment about the greed of the previous management. :bash: :KO: :cry:

The title of this thread is what it is all about. However much we believe in the technology, we are basically here to make money.
Todate that has not been possible given the relentless downward trend in the SP. Having said that, Cytori will not go bankrupt. There is too much substance for it to simply die. Nor will there be any hostile takeover at this low price level as that would give credence to our belief in the value of our stock, and the poison pills in place would make it an exercise in futility. What I fear is that the continuation of incompetent management could make us another DSCO.

Perhaps many of us old time shareholders who believe in the technology and put our money where our mouth was have regretted doing so.......... I know I have. Not because I believe that there is no merit in the technology, but rather because I was too early ........ waaaaaay to early. Like the management of this company (greedy) I thought that we could have it all, and that ADRC/Celution was the philosophers stone that would make us/me rich. If I could see it, so surely would the market!

The truth is that the process of bringing a new treatment paradigm to market is a very costly, and time consuming undertaking.

The lack of funding has been catastrophic for the development timeline. Trying to do a series of small deals like Lorem Vascular may make sense in opening up a country like China but it does not cut it for funding US and European trials.

Rickey needs to do a deal. I believe that they have put off doing one so far because they truly believed that they can HAVE IT ALL.........this would be possible but only if they CAN DO IT ALL........... but they can't. We should be close to a deal ....... or else a huge dilution.

Either way I bought another 10,000 shares at approx. USD 1.07 (considerably lower than USD 1.5 :winky: ).

So much has gone wrong, but it would not take much to right the ship. eg. the ongoing development of a small desk top unit with a small capital cost, quicker processing time and cheaper disposables potentially makes CYTX the low cost provider of regenerative medicine that others will struggle to compete against. FDA approval to proceed with the ATHENA trials by tweeking the protocol (eg. fewer but larger injections). ADVANCE trial data. Twelve month sclerodactili data and announcement of larger funded EU trials. Japan legislation approval and SUI trial announcement/commencement etc.

I await the response to our questions list and trust that management will finally realise that to get rich they will have to share with a BP partner sooner or later.

As the english would say, "In for a penny, in for a pound !". Good luck to us all. :vegas:
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Hold, Buy, or SELL 12 Sep 2014 10:26 #2160

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Rongside,

Sophisticated short sellers have certainly been able to make a profit on CYTX. Maybe even 10X your wildest dreams!

What makes you so sure about the continuation of the company? Considiering the fragility of the balance sheet and the cash burn, any disruptive news could be the final catalyst or "nail in the coffin". If the company can not raise the cash needed to operate their choices are limited.

Otherwise I would surely join you in adding to my long position in CYTX. It is just such a mess that I can't bring myself to risk any more than I already have. I am afraid that I am not alone in this assessment. Unless management can do something to assure the investment community that it has a strategy for the future, the share price will continue to suffer. And those of us invested in CYTX will suffer as well.

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Hold, Buy, or SELL 12 Sep 2014 11:12 #2161

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I could not agree more on what a complete and total disaster Cytori has been. The company has been mismanaged and every decision made has been the wrong one. Pigs get led to slaughter and managements greed has put Cytori in the cash strapped ,non credible position that it is in today. Dr.s do not make good managers,nor good businessmen. There of course are exceptions but not here. Hendrik has been 10 x's worse then CC which is very hard to believe. There is no reason to believe that by averaging down further that you won't just be increasing your losses. I have averaged down and now find myself down 80% on a substantial investment that will cost me dearly. Throwing more good money here is merely a crap shoot. If you own no shares paying a for this stock is a decent bet. Hendrik has been silent and communication with shareholders has been no existent. We are in a crisis and he has done nothing to reassure shareholder to believe that the company has a chance to get back on track. The lawsuit being brought against the company has not been addressed at all. Hendrik has given institutions or hedge funds what may prove to be a bargain basement opportunity. To do so he had to give them some reassurances and a reason to believe.
Then again they may have made so much profit shorting that the 4 million investment means nothing to them. Frankly 4 million does nothing to sure up the balance sheet. Wish Hendrik rather then provide us poor individual investors with false promises about better communication would step up to the plate and give us a reason to believe. if there is a deal that is going to be announced then all the friends of Cytori will get an immediate payoff . Being kept in the dark is not working for me and only servers to increase my angst on a daily basis as I watch the pps slide. KT Lim surely shorted and now probably has recouped 2/3 of his loss. I can't imagine a man that has amassed a fortune like he has would allow himself to be duped by the clowns running this company. Many of the large investors who got in 4 + years ago around the time I got in are long gone and others have recently dumped there shares and will use these losses to offset profits in other stocks. Wish i were in that position myself and had not believed that the information presented to me when doing my dd on this stock was complete bull shit.

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Hold, Buy, or SELL 12 Sep 2014 11:59 #2162

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fatboy,

No doubt about it, the way to go has been short ............. and I have most definitely been on the rongside of that trade. For this reason, no one should depend on what I say as being Gospel.

The capacity for biotech stocks to survive and milk capital from naive investors is huge. There are any number of companies with much worse prospects than CYTX that have burned through much larger amounts of equity capital and still sport higher market caps ........... the reverse split is truly a magnificent tool in the hands of incompetent management and short players. Simply bear in mind that so long as there is a good pitch, there will always be someone to swing at it. It may not be you or me. It will probably be a newbie who thinks he is getting a sweet deal ...........

Anyway, I went to the plate for another 10,000 shares. Its a slow pitch that has yet to cross the plate. Maybe I'll knock it into the bleachers or maybe I will strikeout......... time will tell.

The major blackspot apart from management nonperformance is the debt that they have taken on board. That can cause complications and possibly restrict their freedom of action (not fatally). Hopefully we will see this issue bedded down in the not too distant future in a shareholder friendly way.

My buying more shares was not a call for others to do so. Your fears are justified, and in fact are also mine. The reason I bought, is that at these levels the SP does not reflect potential return. I do not have any margin debt (or otherwise) and can hold. That is the only advice I can give anyone ......... don't use margin.

As someone once said ......... its about patients and patience. I have exhibited the "patience of Jove' being a shareholder from the Macropore days. I had hoped for a 10 bagger at a SP of 5 (Dean) not necessarily 10XWD. Today I may well be satisfied with USD 10 - ten times my worst nightmare .......... this would give a market cap of approx. USD 900M.......... that's hardly a stretch.

If you really want to blame someone (apart from yourself or management) for having invested so much then I suggest we all blame FAS for providing us with this magnificent forum where we have been able to share information and swap ideas ........... without it I believe our DD would be considerably poorer........... our ability to vent considerably constrained. This site has provided me with the fortitude to hold on. Whether wisely or not, time will tell. :bye:

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Hold, Buy, or SELL 12 Sep 2014 15:23 #2163

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Rongside,

Thank you for the thoughtful repy. There is no doubt that this forum and its members make the investment an "interesting" one. The science is compelling on many fronts. The technical discussions, although they are at times beyond my scientific comprehension, have forced me to do personal research that has enhanced my understanding of medicine, and especially of regenererative medicine.

I have often stated my sincere thanks to FAS for his tireless work on this site and for his stewardship of the history of Cytori and her triumphs and disasters.

I just wish I were not losing so much damned money.

I know you do too.

I guess I haven't lost until I sell. Such a white lie is so bittersweet.

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