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TOPIC: New SEC Filing re Rights offering Update/Amendment

New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 08:04 #10115

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FAS, Hedge and Rodney

What are your thinking?

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New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 08:59 #10116

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Franshei, hoping for the best that Hedrick will finally come through despite all the past disappointments.

Not sure that it really matters, but CYTX is currently trading above its 50-day moving average of .37 - let's hope it continues - 200 day moving average is $1.09.

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New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 09:09 #10117

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Why risk making new enemies when you can keep screwing the same people, over, and over, and over again. Without consequence. Yet.

Or, could it be that there are no fresh fools willing to risk the dealings with an enemy ...

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New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 09:16 #10118

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I think Hedrick is still sticking to the original game plan, while overhead counts are reduced by 50%. He is buying time for 6 more months into mid 2018, hoping the ship will right itself in the next several months. This could be either a big win or big, big disaster.

The rights offering is probably tailored for the hedge funds. They may sell the shares and keep the warrants (as before). Just my opinion.

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New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 09:43 #10119

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Franshei, if they get a good partnering deal, the rights offering may not be necessary.

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New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 10:44 #10120

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On a side note, I wonder if everyone on this board is taking note of all the great strides and increases to share price of so many other cell therapy companies. What a shame that the timing was perfect, yet this company too pitiful and repulsive to capitalize. CAPR, KOOL, MDXG, TIG, even ATHX way off lows. The list goes on. Hedrick should hide.

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New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 11:10 #10121

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franshei wrote: FAS, Hedge and Rodney

What are your thinking?


This -to me- is GRAND CASINO ROYAL for "the same fools".


  • Please note there are 33.000.000+ subscription rights for only 10.000 preferred B shares.

  • The effective date for those subscription rights is before the November call. i,e, end of October 27

  • Until November 21 "the fools" can make up their mind whether to participate or not- so after the call.

  • So what happens if sales revenues are anywhere decent in Q3- like 2-3 Mio?

    Actually I like the timing - the warrants could be huge, if the PPS goes up and the conversion rate as a consequence goes down. I do hope they waited that long because they have something to surprise us. If not it will be business as usual and the market will push the PPS down just like in the RO of June 2016.

    The sales number for Q3 could have a gigantic big leverage impact in this one- or not.

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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:

    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 11:37 #10122

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    I see quite a bit less to be optimistic about than Fas.
    Depending on current share count and a fully exercised rights offering with preferred and warrants we are talking about 65-70% dilution for a years cash and the loss of the patents to Oxford. Hardly showing strength. NEITHER DOES A WARRANT CONVERSION OF $0.48 of which history would show is where we know the stock will never trade at again...assuming history for warrants holds. That means a R/S is still on tap to remain in NASDAQ.
    This also means no chance of a partner BEFORE the call....otherwise why price the warrants as they did ?
    Will Q3 sales show a jump ? Maybe, but does it really matter ? The amounts suggested are still quite meaningless.
    Best hope imho and that we have given in to the powers to be and given them what they want in a deal for completion and we get a mysterious mini run to make it all look worthwhile... and for unknowns to short into.
    Conclusion:
    1. No partner deal before conclusion of RO
    2. Again massive dilution...perhaps 70% +/-
    3. R/S still a very strong possibility
    4. Little news to hang our hats on to...business as usual.

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 12:30 #10123

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    myownhedgefund wrote: I see quite a bit less to be optimistic about than Fas.
    Depending on current share count and a fully exercised rights offering with preferred and warrants we are talking about 65-70% dilution for a years cash and the loss of the patents to Oxford. Hardly showing strength. NEITHER DOES A WARRANT CONVERSION OF $0.48 of which history would show is where we know the stock will never trade at again...assuming history for warrants holds. That means a R/S is still on tap to remain in NASDAQ.
    This also means no chance of a partner BEFORE the call....otherwise why price the warrants as they did ?
    Will Q3 sales show a jump ? Maybe, but does it really matter ? The amounts suggested are still quite meaningless.
    Best hope imho and that we have given in to the powers to be and given them what they want in a deal for completion and we get a mysterious mini run to make it all look worthwhile... and for unknowns to short into.
    Conclusion:
    1. No partner deal before conclusion of RO
    2. Again massive dilution...perhaps 70% +/-
    3. R/S still a very strong possibility
    4. Little news to hang our hats on to...business as usual.


    Thanks Hedge- yes- there is another side to the coin- it all depends......

    Key thing to know is that the warrant price is fixed i.e 48 cents- the conversion price is NOT.....

    Each share of Series B Preferred Stock is convertible into the number of shares of our common stock determined by dividing the $1,000 stated value per share of the Series B Preferred Stock by a conversion price of $0.40 per share, subject to adjustment and subject to, if required, stockholder approval of an amendment of our certification of incorporation to increase our authorized shares of common stock, which we refer to as the Stockholder Approval, as described in more detail herein


    So- everything depends on the market action- the most important one AFTER the call. Its also obvious that in case the price goes up the big holders - i.e the hedge funds will benefit-

    If exercises of Basic Subscription Rights exceed the number of Units available in the Rights Offering, we will allocate the available Units pro-rata among the record holders exercising the Basic Subscription Rights in proportion to the number of shares of our common stock each of those record holders owned on the Record Date, relative to the number of shares owned on the Record Date by all record holders exercising the Basic Subscription Right. If this pro-rata allocation results in any record holders receiving a greater number of Units than the record holder subscribed for pursuant to the exercise of the Basic Subscription Rights, then such record holder will be allocated only that number of Units for which the record holder subscribed, and the remaining Units will be allocated among all other record holders exercising their Basic Subscription Rights on the same pro rata basis described above


    Whatever happens- the next 2 months will be quite interesting for fools and non-fools in Cytori the like. :grin:

    It seems to me that a lot of planning went into this.

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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:

    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 12:42 #10124

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    The board seems to be skipping over the most consequential event in this company's near future: the FDA meeting regarding Habeo. Given the time it's taking, and the absolute silence since the failing readout, you can begin developing your pessimistic outlook very soon. Like today.

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 12:50 #10125

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    Fas, I had somewhat the same thought as you expressed in your last post on the rights offering - I doubt that Hedrick was clever enough to come up with it, but nevertheless it could suggest some good numbers coming up. Also, could the $5 million actually be from operations?

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 13:41 #10126

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    waddlingwillbologni wrote: The board seems to be skipping over the most consequential event in this company's near future: the FDA meeting regarding Habeo. Given the time it's taking, and the absolute silence since the failing readout, you can begin developing your pessimistic outlook very soon. Like today.


    This person certainly is not forgetting this "other" seminal event- my guess is simply - we will hear AFTER October 27 but before November 21.

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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:

    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 13:58 #10127

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    ***
    ***Key thing to know is that the warrant price is fixed i.e 48 cents- the conversion price is NOT.....***

    Very true Fas but I find that fact even more disturbing...ie they are strongly suggesting (imho) a R/S likely.
    Here is the thing once again...every deal to the institutions they buy below market every deal in a RO to shareholders they offer above market....in this case $0.40 conversion vs todays $0.36 to $0.38.

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 14:34 #10128

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    The .40 conversion price is not a real number at this point so you cannot compare it to any current price!!!! Also, a RS imo will not be done until such time as it becomes an SEC necessity to stay listed.

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 15:19 #10129

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    You're right Wadd, FDA meeting was supposed to be in September, nothing but crickets so far.

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 16:19 #10130

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    ***The .40 conversion price is not a real number at this point so you cannot compare it to any current price!!!!***
    Oh its a real number all right, you may get converted to a worse price or may remain the same post R/S factor but it wont be better ! The point I made was quite valid.

    ***Also, a RS imo will not be done until such time as it becomes an SEC necessity to stay listed. ***
    Duh
    Its coming though, so start thinking of a number.

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 16:30 #10131

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    b7
    I thought franshei indicated it may take some time before a meeting with the FDA. Perhaps he can comment again
    On another note, you would think they would want some sort of positive news before a offering. Last time they raised money before news was right before STAR failure. A tried and true small bio method, secure funding just in case.
    We also don't know if they will even raise the full $10 million...remember latest Oxford deal only required $5 million. Either way, 5 or 10 its only enough for salaries so they still need to make something happen for more funding.
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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 17:41 #10132

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    HF's post re the .40 is not in the context of Fas' enlightening post - also, his insistence on a RS is only his opinion and may not even be necessary since CYTX has considerable time (with likely extensions) to get over $1!

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 18:12 #10133

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    RE FDA meeting

    It always takes a long preparation and scheduling to meet with the FDA. VCEL's CEO had a discussion on this recently: they had such a FDA meeting in late September (3 months of pre-meeting arrangements) and it will take another month of waiting before a decision is made. VCEL would discuss the FDA meeting during the November CC.

    Maybe Tiago have told someone that such a meeting was conducted in September. I am totally out of touch with Tiago, because he has been useless in terms of useful information.

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    New SEC Filing re Rights offering Update/Amendment 03 Oct 2017 20:45 #10134

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    Thanks franshei !

    RS, your losing it !
    Relax, its only money.
    For me at least, the $ loss wasn't the frustrating part...it happens...its was the pure incompetence year after year that got me.

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