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TOPIC: Deficiency notice

Deficiency notice 08 Oct 2014 13:23 #2416

  • d9dozrman
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After today's close below a buck, in 17 business days, providing we can't climb back over, we will be staring at a delisting notice from Nasdaq. The forces at work here seem to infer this will be the case.
How many body blows can this thing take? :bash: :bash: In Greek mythology, there is a "Rising Phoenix". Do Hedrick and crew have the right stuff to bring this from the ashes?

d9
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Deficiency notice 08 Oct 2014 13:26 #2417

  • mikehelin
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Delisting almost never happens that quick, the appeals process goes on for months.

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MEH

Deficiency notice 08 Oct 2014 13:34 #2418

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Agreed, nevertheless, a notice will be served.

d9

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Deficiency notice 08 Oct 2014 13:35 #2419

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Delisting is a long process but a positive outcome from the FDA on Athena resumption provides the best hope. It doesn't matter that Cytori currently lacks the funding to finish Athena (or so it seems) because the market should react to this news to some extant, IMHO. The the question becomes what's next. Can they attract a cardio partner? Do they decide to end trial early and hope for extraordinary results?

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Deficiency notice 08 Oct 2014 14:25 #2421

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WST...I just dont see a positive nod from the FDA on restarting ATHENA doubling the PPS. In fact the fact that it is a serious factor in this deal there seems real concern more may need to be done.

Only 2 real options left imho.

1. If they are still working to get some sort of partnership with some upfront money.

2. The scale of the reverse split.

#1 seems remote given what they had to accept today but never say never I guess...at least until the lights get turned out...because even if all warrants get exercised in 6 months or so we all know they need more cash !!! That is the real hard part of today. No confidence the balance sheet is fixed yet !!! :bang: :bash: :puke: :cry: :evil: :evil: :evil:

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Deficiency notice 08 Oct 2014 14:48 #2422

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I hear you Hedge. Good news on Athena is the only short term potential catalyst on the calendar right now. A big question I'd like to know the answer to is if KT Lim participated. It doesn't seem like it to me and I'd love to know what he's thinking. Hedrick did not deliver on shareholder friendly capital raise. it couldn't have been much worse.

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Deficiency notice 08 Oct 2014 15:15 #2423

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Mr Lim? Lorem Vascular? What are the cardiac rights to China worth? Let's make a deal. Someone convince me that this is not doable.

d9

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Deficiency notice 08 Oct 2014 15:38 #2424

  • rongside
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dozrman,

FYI

"NASDAQ Reverse Stock Splits

After trading below $1 for 30 consecutive days, the NASDAQ gives a company six months to increase its share price before delisting. Companies often opt for a reverse stock split to increase the share price and come into compliance with NASDAQ regulations. A rule to remember for reverse stock splits is that the company is reducing the amount of outstanding shares. To stay in compliance with NASDAQ regulations, the amount of outstanding shares cannot drop below 750,000, and the market value of the shares cannot drop below $5 million after the reverse stock split."

We have six months plus an appeals process that can last for months before any delisting. Well before this happens there will be a reverse split that will take it well above one dollar.

WST

What do you think about the following clause in the finance terms:

" Pursuant to the terms of the Purchase Agreement, until the 18 month anniversary of the date of the Stockholder Approval, upon any financing by the Company of Common Stock or securities convertible into Common Stock, each investor will have the right to participate in such financing up to an amount of such financing aggregating up to 50% of the financing for all investors, subject to certain exceptions. The Purchase Agreement also contains other customary representations and warranties by the Company."

It seems that if there are going to be any further deals then Roth/Maxim want to be in on it. This gives them a huge window into what is going on in the company............ unbelievable ........... does management and the BoD understand what they have done?

They have given away the company. Its not enough that Hedrick has given away 25% of the company for USD 13M but he has also given away options for another 25% at a pittance. Perhaps someone someday could explain to me how this sort of dilution is better than if they had done a dilutive deal with Big Pharma years ago?

The only question now is ....... can the owners of this company, (not us), make more money with the share price rising or will they continue to drive it into the ground. Do they want it all? Will Hedrick give it to them?

As for Lorem/Lim there is no reason for him to participate. He already has half of Asia wrapped up no matter who ends up running/owning CYTX. USD 23M was not really very much if you think about it.

The problem as I see it is that no serious BP company would want to do a deal with such clowns unless they have substantive control. This in the past has been anathema to management. This aversion has delivered the company into the hands of shylocks. Old shareholders count for nothing.

I am scheduled for a colonoscopy tomorrow ............. I have been well prepped today.

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Deficiency notice 08 Oct 2014 16:26 #2427

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I am scheduled for a colonoscopy tomorrow ............. I have been well prepped today.


I know how you feel right now- rather empty.... :winky:

Anyway- I hope you have a nice meeting with your gastro-enterologist after your 2 hours away from it all. :grin:

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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:

Deficiency notice 08 Oct 2014 21:18 #2431

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Rongside, this is the kind of deal you get when a company is mismanaged for years and spends way more than justified on employees for so long. However, I don't see a problem with the section you mentioned about investors having the right to participate on future equity offerings. I haven't gone in to read it in context but they aren't referring to the U/W's. There are many worse things in this agreement related to repricing that could hurt if things don't go well, especially with FDA's ruling on Athena. I do expect that the FDA ruling will go Cytori's way though.

We were all blinded by the promise of the therapy and stubbornly stood by this company with misstep after misstep after misstep. I plead guilty. There are no words to describe this mess in light of all hard earned money and time that so many have invested in this company while management overpaid themselves, failed to deliver and rode this company into the ground. I hope that they can salvage something out of Athena, one way or another, as this has always been the BIG application of the therapy. There are still many good things like BARDA, Lorem, Orthopedics and Okyanos but so much damage has been done do to collective incompetence.
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Deficiency notice 09 Oct 2014 00:08 #2432

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Wow is all I have to say. These folks do not live in the world I live in........ Non-chalantly taking their time to get cash as the stock price erodes. Two weeks notice for Tiago to get started? That's what you do under normal circumstances , not an abnormal situation where you gotta have cash now deal.....like cytx.

Tiago is a lightweight and inexperienced..... Too bad I wasn't the CFO ..... I would have blistered the fucking ATM above 2 bucks and avoided this massacre ( self inflicted) but Saad was a dumbass......
And Hedrick ....... A doctor playing ceo, maybe he will grow into it..... 50 - 50 ...... At least he got a rude fuckin wake up call......
Hope he liked the haircut in his shares ..... Now he knows what they're worth when a company is mis-managed.
Wow ..... this is a remarkable thing.

Where now ? ...... That's the only question ...... I must say I like it at fiddy cents. I'm a buyer as I think it's worth at least 3 bucks in spite of the bullshit . BARDA , Japan on the cusp, etc .... All the usual stuff

What a perfect storm of stupidity.... Yet I like the cloud of misery that allows a great entry . Forgot
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