I'm wondering if anyone from the history of this board has actually ever paid a visit to the Cytori location ...
Does anyone know what the Company actually looks like, how it functions, how well it's kept, how employees interact and whether they take pride in their work. Does this company even still exist to the extent that each employee being paid is carrying out functions for the benefit of shareholders ... Do people still even "go into work", or are the ones who still remain free to do with their time as they please ...
I wonder what Marc is actually doing right now. I wonder where he is. The same for Tiago.
According to Rickey, his own primary life activity is retirement ...
I did visit the company back in 2009. Back at that time it was Chris Calhoun and Mark Saad at their peak. I met with both of them as well as Marc Hedrick. At the time the financial markets were just starting to rebound, and as we all remember "the inflection point was near." The company and employees also seemed to be bustling with energy.
That meeting is one of the numerous reasons I invested in this company. When I reflect on the meeting several things stand out. First, Calhoun reminded me of a used car salesman. Marc H seemed genuinely and legitimately bought into this company's future though, and as essentially the brains of the operation I chose to follow the confidence that he inspired, as opposed to the uneasiness that Chris Calhoun gave me. To this day I still don't know if I believe that they had any idea how poorly things could go. I really do think that they bought their own hype, and felt that they were at the helm of the next billion dollar biotech.
I lost over $300,000 with this investment over the past 8 years. Some of my position was established after that initial meeting in 2009, but most of my investment was made in the spring of 2014. I was very excited about the potential of our cardiac indications. Obviously my timing was impeccable... That said, I would have never fathomed how many failures this company could have over the next 3 years.
The dollar amount of my loss pales in comparison to many others. I sold the last of my shares for a 99% loss the day that the STAR results were announced, and I will never invest another dime. To your point, I would be very curious to see what things look like now at Cytori. My guess is that it is a ghost town, with all of the true talent long departed.
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Thanks for sharing irrationalexuberance
Its been quite some road.
Taking on the debt was the beginning of the end....let alone a relentless string of failures and a constant change in direction during the Calhoun years.