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TOPIC: Holding pattern

Holding pattern 30 Jan 2015 12:16 #3282

  • myownhedgefund
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We seem to be stuck in a holding pattern waiting for what ever is to take place actually happens.
Boring light volume today with only 137K traded so far.

I don't see ATHENA news before Mid Feb.
Cash raise before or after March call ?

Otherwise snoozeville til news

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Holding pattern 30 Jan 2015 14:16 #3283

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You need to stop it with the dilution panic talk, I think... the cash burn can't possibly be as high as you think it is... right?

Edit:

I was also wondering about ATHENA data. Regarding ATHENA:
http://ir.cytori.com/files/doc_downloads/Transcripts/2014/Q3/CYTX20141106-C_v001_v70l16.pdf

6-month time point for last patient is November. "We believe that data should be available for our internal review Q1 of 2015."

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Holding pattern 31 Jan 2015 11:10 #3284

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The transcript has sufficient data for everybody to judge him-herself, whether cash needs are "urgent".

Pro forma there was a little over 20 Mio as of Q4 start in October. Burn - a bit over 2 Mio per month- so we must as of today have 11 Mio left.

The Oxford Finance loan surely has a covenant for holding minimum 3 months cash, which should be 6-7 Mio, so that we have about 4-5 Mio to spare...about 2 months therefore and on April 1 the Oxford loan must be redeemed with 1 Mio per month roughly. :really:

I hope the money they pay, Akiko Shibata pays off soon. Mind you- they paid CC a lot more and he never delivered either. :whistle:
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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:

Holding pattern 31 Jan 2015 12:45 #3285

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agamem...Fas spelled it out for you very nicely..step by step

With ATHENA...they were only waiting for the last data set of a ATHENA 2 patient. Crunching the numbers doesn't take that long...especially for just 31 patients. Usually about 60 days but out to 90 days does happen. While we may only hear the final results presented at a conference, a potential partner can see them when ready.

Fas....I kinda forgot about our part time employee. Can she repair the bridges CC (imho) burnt to the ground in just a few months ? We shall see. Supposed to come with a great reputation but so did Lloyd Dean and you know my thoughts on the job he did for us !!! :winky: This job, again imho, wont just be praising the benefit of the science, but that Cytori is a different company, with a different culture and a worthy partner. I wish her luck.

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Holding pattern 02 Feb 2015 14:08 #3296

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Fas,

Do you think that two million a month includes the cash needed to pursue the building of the new Celution machine in England? Or is Cytori waiting for BARDA reimbursement before ramping up production on that very important piece of the puzzle? In my mind a more elegant machine sold at a considerable discount to the current product would be the greatest catalyst to increasing sales of consumables. I hope that project has not been comprised by the cash problems at the company.

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Holding pattern 02 Feb 2015 15:05 #3300

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Fatboy-

I fully agree with the gigantic importance of that project. Even if Callan Road has capacity for 28 Celutions-800, why would anybody pay up for that? No- I would also wait for the CTX-2.

Anyway- on the cash cost of Deeside. I believe I understand what happened there now from the headcount that Hedrick was talking about.

There seems to be only one Cytori employee at Deeside at present, meaning they surely put in the US manufacturing and QC crew in there for the time they were audited by Norske or whoever provided them with the ISO and other QC certifications.

I presume also- that Deeside is a "result" from the Lorem Vascular agreement i.e. the imported Celutions must have CE certification and made in the UK.

That implied to me- that at first the US crew will come over when the time is ripe for that and only slowly that crew will be replaced by locals.

And also would mean very little additional cost-except maybe travel cost- before the bucks start rolling from the revenues the produced machines generate.... :cool:

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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:

Holding pattern 02 Feb 2015 16:09 #3301

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Fas,

I think we all agree with the importance of the launch of the new generation Celution system. I just thought that all the fanfare regarding the opening of the "Deeside Facility" would entail a less then minor expense going forward. The building of a manufacturing facility is a large undertaking. I would assume the Deeside location would be more of an assembly plant. Investigation leads one to batter his head onto the "transparency" of Hedrick and the management team. So little light is shed on what is occurring. Strategies are announced then there is no follow through? External events occur that have important relevance to the companies science and yet they are not reported or embraced?

It is difficult to plan future projects when your very ability to sustain your enterprise is in constant jeopardy. It is a dilemma that I fear will not be conquered soon. Another facet of the enigma of Cytori.

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