Welcome, Guest
Username: Password: Remember me
The Company
  • Page:
  • 1

TOPIC: Observations on the Offering

Observations on the Offering 02 Jun 2016 08:59 #7135

  • rongside
  • rongside's Avatar Topic Author
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 376
  • Thank you received: 196
Let us hope that the rights issue goes well. I don't know if the funds will be sufficient but I detect a sense of urgency and focus. They have gone to their existing shareholders to ask for funds: something not often done in the US.

No doubt the vast majority of small shareholders will not bother with the whole exercise. From the discussions on the yahoo message board they appear to not even be familiar with the whole process. However the shares of the company are amassed in someones hand. Lets hope that they see the upside and act accordingly.

Given that the price per share is effectively 19 cents (pre split) we are being given the opportunity to buy shares cheaply (albeit of necessity). The one thing I find gratifying about this turn of events is that I will be giving funds to the company for the advancement of the technology. Even though I am probably one of the earliest investors in Cytori(Macropore) I have always been buying someone elses' shares in the secondary market. Unfortunately, tooooo many shares were issued via the lenders of last resort who had already secured their profits before even taking up the share issue by selling short (front running the news).

Such is life.
The following user(s) said Thank You: fas

Please Log in or Create an account to join the conversation.

Observations on the Offering 04 Jun 2016 12:04 #7151

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3257
  • Thank you received: 1109
We all know, that Rights Offerings for Nasdaq listed Companies are rare and in between. :yep:

At least I have not taken notice of one the past 15 years or so, which means that the Cytori offering was pretty unique, out-of-the-box thinking (and acting), which could only be applauded- that is besides the fact it came about 18-24 months too late. :whistle:

Anyway- one should not be all that critical with new ideas, I guess, but the announcement on Tuesday May 31th, I really did not understand. It looked like the final pricing for the Offering at 2,90$ and since at the time the PPS was still above 2,90$ (at least for a few hours) I really was thinking quite hard in selling most of my shares in order to participate full speed in the Offering and get those nice freebies- the half warrants per share acquired.

In the end I decided against that, since I was not sure if I- as a Dutchman living in Europe- if I would have easy access- even access at all- at the Offering. In hindsight - that was pretty stupid, since surely I wasnt the only one with the idea of selling and using the cash for the offering.

Since Tuesday the stock has only one direction and the reason is pretty much self-inflicted I would say. How is it possible that Management at Cytori is so naive and totally unsavvy with hoards of "so called financial advisors" available?

I DO NOT GET IT - incompetency ³

Anyway- we are where we are on June 4th- as a foreigner who should have signed up on June 6th, I did sign up for 40% of my holdings at Interactive Brokers, but all in the expectation that the price will come down. It has to with so much stupidity. :bash:

Please Log in or Create an account to join the conversation.

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:

Observations on the Offering 04 Jun 2016 12:23 #7152

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3257
  • Thank you received: 1109
I took the liberty to "move" John´s post to a more prominent part of the Lodge and have the post head some comments I have, since John´s post was rather matter of fact and I am fuming again on the way things are handled at Callan Road.

Something needs to be done to change the course of action- that course or direction smells definitely like disaster at present for the rights offering.

Houston we have a problem

And I think it has a name..i.e. the problem.

Please Log in or Create an account to join the conversation.

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:

Observations on the Offering 05 Jun 2016 10:02 #7156

  • myownhedgefund
  • myownhedgefund's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 2728
  • Thank you received: 199
Fas...what makes you think its long shareholders selling vs the same group wanting to do Cytori harm for many years now ?

I dont know how they are doing with attracting investors to take the deal but I know I have been contacted twice by phone, twice by email and once by snail mail.
I havent responded to any of them.

As expected, I havent seen anything on DOV's restricted bonus suggestion.
Sabby got one for one stock and warrants but as a long term investor I only get offered one to one half. There's reward for you !!!!
While giving money to Cytori, do I really want to also reward Maxim ? Especially after all the past financing deals they have brought us ?
Some considerations that have crossed my mind.

Everyone needs to use there own judgement of course.

Please Log in or Create an account to join the conversation.

Observations on the Offering 05 Jun 2016 11:47 #7157

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3257
  • Thank you received: 1109

myownhedgefund wrote: Fas...what makes you think its long shareholders selling vs the same group wanting to do Cytori harm for many years now ? Everyone needs to use there own judgement of course.


I concur with everything you wrote which I did not quote- so sad this really " we the retail investors in Cytori are really the Dalits of the caste system in India"

Surely you are right too- that LT shareholders suddenly had the same interest on Tuesday May 31 as the group that does Cytori harm now for the past 8 years or so. Very frustrating and again due to pure stupidity. :bash:

Please Log in or Create an account to join the conversation.

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:

Observations on the Offering 05 Jun 2016 12:34 #7158

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3257
  • Thank you received: 1109
Just as other observations....

The "smell" that only US investors were "wanted" for the Rights Offering was kind of confirmed by the fact that I have about 20% of my CYTX holdings at one of the largest German Online-brokers (remember Cytori has a secondary listing in Germany) From them I have heard nothing and a call to their Call-centre only revealed unawareness. In India - the Dalits are really not a caste in the caste system- they are the fifth category for all "other human filth". So if retail shareholders are like the "Dalits", the question is- what I am i.e. "a foreign- non-US-retail shareholder???????????????????? :evil: :bang: :bang: Filth²??

Anyway- I wrote a "ticket" into the Interactive Broker system on Thursday June 2td, tow days after the CYTX announcement of May 31st, indicating I wanted to participate. The ticket was answered the next day and showed a link to the Account Management Services page, related to Corporate Actions.

The same day I received a message in my function as Financial Advisor - (since I do manage several accounts at IB):-

COMMUNICATION(S) PERTAINING TO YOUR CLIENTS:
Please note, the message below contains information concerning one or more of your client accounts. As this message involves matters relating principally to your role as the advisor, it is being sent solely to you and not to your client accounts. You, in turn, may elect to pass this information to your client(s). Messages which contain account specific parameters (e.g. equity, positions, dates, etc.) will have those parameters omitted at this view level.
MESSAGE CONTENT:


CYTX CORPORATE ACTION: DECISION REQUIRED We have received information regarding an upcoming corporate action in the below stock. This corporate action presents several choices to the shareholder.
CYTX (Company Name: CYTORI THERAPEUTICS INC)
Election period starts: Jun 02, 2016 12:00 EDT
Election period expires: Jun 09, 2016 11:00 EDT
After the election period has commenced, please access the election tool in one of the following manners
Individual Account - follow the 'Select CA Choice' icon below
Multi-Account structure - navigate to the Corp Action manager through the Support menu option located at the top of the page
Instructions may be submitted through this tool only until the above stated expiration date and time. If the election period has expired, elections may be submitted through a New Ticket and will be handled on a best-efforts only basis.


So - at IB you are only notified if your advisor thinks it is appropriate :whistle: Anyway- besides that- IB is great , cheap and sophisticated, but has some drawbacks too....in respect of the Rights Offering it is clear, that it does not matter where you live but with which broker you are... :grin: :grin:

Please Log in or Create an account to join the conversation.

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:

Observations on the Offering 10 Jun 2016 11:26 #7209

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3257
  • Thank you received: 1109

fas wrote: Just as other observations....

The "smell" that only US investors were "wanted" for the Rights Offering was kind of confirmed by the fact that I have about 20% of my CYTX holdings at one of the largest German Online-brokers (remember Cytori has a secondary listing in Germany) From them I have heard nothing and a call to their Call-centre only revealed unawareness.


For the sake of fairness, I have to correct something- yesterday- June 9th I received an email from my German broker that subscription rights were posted into my account with them. So- meaning- if one had the appropriate funds in the account- one could participate too. However - the time would be too short if this would not be the case.
Anyway- please please - lets return to normal life and do NOT extend the subscription period- the stock is just played with by the shorts and believers....a very funny situation, which should not last, because of the stupid handling of the Rights Offering. :bang: :bash: :evil:

Anyway- I just completed my clean up of my IB account, where I participated for 53% - under protest- of course. Also added some fresh shares at 2,24 which is under 15 cents pre split....we are approaching ATL..... :puke: :cry:

Please Log in or Create an account to join the conversation.

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:

Observations on the Offering 10 Jun 2016 12:31 #7212

  • myownhedgefund
  • myownhedgefund's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 2728
  • Thank you received: 199
I don't think they will extend the subscription period any further.
Question is, if they come up short...by how much and what will the market reaction be ? :whistle:

Please Log in or Create an account to join the conversation.

Observations on the Offering 12 Jun 2016 09:45 #7213

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3257
  • Thank you received: 1109

myownhedgefund wrote: I don't think they will extend the subscription period any further.
Question is, if they come up short...by how much and what will the market reaction be ? :whistle:


Yes- we seem to be done- thank god- such a disaster handling. :bang:

Great idea of the Rights Offering- lousy execution in my view and the most disappointing part being that BOD/Management did not take up DOV´s proposal of deferring the payments of bonuses until being cash-flow positive.

Is that arrogance or sorry, we cannot lose face, since this is none of your business? Is there still anywhere a "human aspect" in the corporate world?

Personally I think Hedrick is an asshole, but he had a great opportunity to make some amends for the past. I mean he is - this applies to Rickey too- very much responsible for the past and Calhoun´s unstoppable thirst for spending.
Hedrick´s two year stay in Florence Italy, was the absolute summon of waste, since it did not bring anything and I have been a European Controller with a Dow Jones Company, who knows exactly what an expatriate costs on additional local taxes, especially when he lived in a mansion the size and beauty the Hedrick family was allowed to enjoy. Outrageous really. :bang:

Anyway- I have not heard Hedrick/Rickey say sorry for the past. They probably never will and as such will probably stay the Assholes they are. :bye:

At least I have heard that Calhoun said sorry to some of us, in respect of the money lost. Not to me- but thats fine- we all have to learn and sometimes we learn more at a rife age compared to when we were young and full of zeal and spirit. :whistle: .

Marc- do not take this personally- you failed as a human being and should take the consequences as such.
The following user(s) said Thank You: mtpinman, d9dozrman

Please Log in or Create an account to join the conversation.

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:

Observations on the Offering 12 Jun 2016 11:25 #7214

  • Wall Street Titan
  • Wall Street Titan's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 866
  • Thank you received: 148
What's this about Marc in Italy? First time I'm hearing about it.

Please Log in or Create an account to join the conversation.

Observations on the Offering 12 Jun 2016 12:16 #7215

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3257
  • Thank you received: 1109

Wall Street Titan wrote: What's this about Marc in Italy? First time I'm hearing about it.


Very late 2007 or very early 2008- dont remember- Cytori surprisingly received VERY FAST CE mark in Europe for Celution 800 to transfer cells back into the same person after processing. So Marc was shipped with his family to Europe- i.e to a very nice part of Florence (which I visited in 2014) and worked with Calabrese (I believe) at the local university to educate KOL´s (Key Opinion Leaders) in Europe in breast reconstruction etc (and augmentation).

He came back late 2009- in time for his "I can smell the Inflection Point" speech in November, I believe as part-time Marketing Director passing the baton to Eric Daniels in Europe, who than soon moved to Switzerland to more efficient business accommodations.

US expatriates - normally having a home back in the US- only pay a token rent for the place they rent. The different between that token rent and actual renting cost is taxable income for the expatriate, but - of course- reimbursed, which again is taxable income for this expat, which again is reimbursed..... etc etc. This is the never ending wheel for expat local taxes. which really churns with tax on tax, creating horrible sums. I know- I have seen and paid them.... :KO:

Please Log in or Create an account to join the conversation.

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:

Observations on the Offering 12 Jun 2016 20:28 #7216

  • myownhedgefund
  • myownhedgefund's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 2728
  • Thank you received: 199
*** Is there still anywhere a "human aspect" in the corporate world?***

Not much Fas, not much.
A major reason I became mostly a trader...hold very few stocks. Just really started to hate how companies in general were run with little the true owners could do about it. Management rarely owns much of a public company any more.

Please Log in or Create an account to join the conversation.

Observations on the Offering 13 Jun 2016 06:15 #7217

  • CalhounDoppelganger
  • CalhounDoppelganger's Avatar
  • Offline
  • Gold Boarder
  • Gold Boarder
  • Posts: 160
  • Thank you received: 20
Fas,

Wish I never heard this story about Hedrick living in Italy for 2 years on shareholder dime and not producing a single f'ing result. That's outrageous.

All they had to do was spend $50k on the mother of all focus groups to realize that breast reconstruction was not the goldmine.

I can just see the board meetings now... Rickey not caring and deferring everything to Calhoun and Hedrick. Hedrick too stupid to realize how much of a terrible businessman Calhoun was/is.
My assumption is those who left the board saw this disaster and realized they would not have the quorum vote.

This goes back to Roth wanting to read corporate minutes and depose the assholes.

Please Log in or Create an account to join the conversation.

Observations on the Offering 13 Jun 2016 09:03 #7223

  • rothco619
  • rothco619's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 467
  • Thank you received: 67
Calhoun, We may get our wish now that there is money to burn in the coffers for lawyers to get paid. They won't work for free, they get paid by the defendant, if judge rules in plaintiff favor and don't take case to begin with unless they feel they will win. I particularly am interested in getting details on the participation on the rights offering. I suspect the majority who participated were not retail investors but the same crooks who control the company due to cheap financing. I suspect they were given information that we poor individuals were not privy to. Surely they signed and NDA. This is going to be a very interesting story to watch unfold. Glad to see that bankruptcy has been delayed and now we shall see if results will actually drive the business and increase PPS.
Until I see results I would not invest a dime and will be happy to buy at higher prices with more certainty.

Please Log in or Create an account to join the conversation.

  • Page:
  • 1
Time to create page: 0.122 seconds

Copyright Information

Copyright Fas Kuiters © 2016 young-foxes.com. All Rights Reserved.
This page is made with Joomla CMS and its various templates designed by Fas Kuiters with the excellent Themler tool.

 

 

Shared Spreadsheet Links

DOV´s Revised Projections for the Periods 2017 until 2020

Shareble link : HERE

Fas Kuiters Websites