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TOPIC: My observations on recent events

My observations on recent events 04 Feb 2018 10:01 #11136

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First- an overview of share count since RO concluded on November 24th-

Just some observations on the post-RO share ownership situation and the numbers above-
- the 13G filings for Swissquote and PostFinance were 29 December and January 31 respectively, one month apart.
- although they are not affiliated in SEC terms, one should assume they knew of each others actions, since PostFinance has a 5% stake in Swissquote.
- SEC rules require that >5% holdings are reported by 13G as soon as that threshold has been exceeded
- One would expect large financial institutions- like those two- to adhere to SEC rules.
- that triggers the thought, that they acquired those stakes in large blocks over-the-counter- Sabby et al?
- I exclude the possibility that the shares of Swissquote were acquired in the open market- the volume in December was way too low and PPS only dropping- so no price pressure.
- the bulk of Series B shares appear not to be converted- what if other Swiss investors hold large portions of those Series B?
- why was the SF conference suddenly cancelled?- why was Rickey thrown out?- why no SSM called sofar?- why does business seem to have come to a crashing hold- RELIEF etc?
-the general thought, that the design of the RO in November 2017, was perfectly fit for large stakes in Cytori to be acquired by newcomers, without former large stakes, smells heavily of collusion by Cytori management, since that is exactly what happened.
-the big question however would be, if that collusion started with the design of RO in 2017 or already 4 years ago.

In view of all the above, my subjective view is that things are about to happen- good or bad we will see. :whistle:
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My observations on recent events 04 Feb 2018 12:09 #11137

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Good summary Fas.
What are your thoughts on the following ?

1A. Did the 2 BOD members resign because they were forced out or did they have concerns on what was really happening and not want to be a part of it ?
1B. Could there be potential legal issues ?

2. Given the potential cash buyout for warrant holders of $0.87 ( I believe) couldn't they potentially get screwed in a buyout at a higher PPS ?
I know the 13G's convey differently, but what if the potential buyer is still hidden. North of 20% a 13D would have to be filed.
####
Its the BOD thing that still has me curious.

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My observations on recent events 04 Feb 2018 12:41 #11138

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Fas, good summary - the share picture that you showed raises the question in my mind as to why Swissquote and Postfinance both chose to convert their B shares quickly to common versus the 18 million other B holders that did not - an obvious reason would be to sell them at an advantageous price (and some have been sold), but I still think there is more to the story.

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My observations on recent events 04 Feb 2018 12:46 #11139

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myownhedgefund wrote: Good summary Fas.
What are your thoughts on the following ?

1A. Did the 2 BOD members resign because they were forced out or did they have concerns on what was really happening and not want to be a part of it ?
1B. Could there be potential legal issues ?


Thanks Hedge-

1A. I do not know of course, but my guess is that the departure/canning was planned and he did his dirty thing for a what I called "a more business like" BOD to accept an offer which in terms of PPS would be acceptable in US terms, which is BS in my view after destroying the value of the Company deliberately by engaging in toxic financing and other illegal things. Rickey is a manager with very dubious credentials and to me always colluded with Calhoun, despite sacking him- that was at the time a voluntary sacrifice in chess terms.
1B.- the 10Q do not list any material legal action. If what I think will happen, there surely will be some in the future, if I get the support. I have the knowledge.

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My observations on recent events 04 Feb 2018 12:56 #11140

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myownhedgefund wrote: 2. Given the potential cash buyout for warrant holders of $0.87 ( I believe) couldn't they potentially get screwed in a buyout at a higher PPS ?
I know the 13G's convey differently, but what if the potential buyer is still hidden. North of 20% a 13D would have to be filed.
####


If I remember right, there is a time-line involved- like- if after 1 year the PPS is north of xxx for 10 days, than etc etc- the one cent bit comes.
I do not think that is an issue.

As long as the buyer remains hidden nothing has to be filed, I am sure you agree with.

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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:

My observations on recent events 04 Feb 2018 14:43 #11142

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Here is the specific warrant info:


Each Warrant entitles the holder to purchase one share of common stock at an exercise price of $0.3333 per share, subject to adjustment, from the date we obtain stockholder approval of an amendment to our certificate of incorporation to increase our authorized shares of common stock, which we refer to as the Stockholder Approval, through its expiration 30 months from the date of issuance. The Warrants will be exercisable for cash, or, solely during any period when a registration statement for the exercise of the Warrants is not in effect, on a cashless basis, at any time and from time to time after the date the Stockholder Approval is obtained. We have applied to list the Warrants on Nasdaq under the symbol “CYTXS,” although there is no assurance that a sufficient number of Subscription Rights will be exercised so that the Warrants will meet the minimum listing criteria to be accepted for listing on Nasdaq. We may redeem the Warrants for $0.01 per Warrant if our common stock closes above $0.83325 per share for ten consecutive trading days, provided that we may not do so prior to the first anniversary of closing of the Rights Offering.

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My observations on recent events 04 Feb 2018 15:45 #11143

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myownhedgefund wrote: Good summary Fas.
What are your thoughts on the following ?

1A. Did the 2 BOD members resign because they were forced out or did they have concerns on what was really happening and not want to be a part of it ?
1B. Could there be potential legal issues ?

2. Given the potential cash buyout for warrant holders of $0.87 ( I believe) couldn't they potentially get screwed in a buyout at a higher PPS ?
I know the 13G's convey differently, but what if the potential buyer is still hidden. North of 20% a 13D would have to be filed.
####
Its the BOD thing that still has me curious.


HF, with respect to your question re Rickey & Naughton - I do not believe that "Chairman" Rickey and Naughton were forced out, nor do I believe that they were part of the restructuring - their departure date is too coincidental with the Swiss B conversion and perhaps further anticipated RO surprises that leads me to believe that they resigned to avoid potential S/H litigation down the road.

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My observations on recent events 05 Feb 2018 07:44 #11144

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rodney.strongg wrote:
HF, with respect to your question re Rickey & Naughton - I do not believe that "Chairman" Rickey and Naughton were forced out, nor do I believe that they were part of the restructuring - their departure date is too coincidental with the Swiss B conversion and perhaps further anticipated RO surprises that leads me to believe that they resigned to avoid potential S/H litigation down the road.


Rodney- you simply assume too much without knowing. Just like you did not believe that there were 2 blocks of 5,5 Mio although facts said differently, the assumption that Swissquote and PostFinance converted their B-series is very uncertain and not known. They could have gotten those shares from others - over-the-counter or even some on the stockmarket. Who knows.? Fact is only that they have them.

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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:

My observations on recent events 05 Feb 2018 08:12 #11145

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fas wrote:

rodney.strongg wrote:
HF, with respect to your question re Rickey & Naughton - I do not believe that "Chairman" Rickey and Naughton were forced out, nor do I believe that they were part of the restructuring - their departure date is too coincidental with the Swiss B conversion and perhaps further anticipated RO surprises that leads me to believe that they resigned to avoid potential S/H litigation down the road.


Rodney- you simply assume too much without knowing. Just like you did not believe that there were 2 blocks of 5,5 Mio although facts said differently, the assumption that Swissquote and PostFinance converted their B-series is very uncertain and not known. They could have gotten those shares from others - over-the-counter or even some on the stockmarket. Who knows.? Fact is only that they have them.


Am I not allowed to express my opinions? - is that not an important part of this site - I am not always going to be correct, but neither are you, HF, Franshei, etc. - I have more to say, but maybe my 10 minutes are already up (remember your comment on coincidences).

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My observations on recent events 05 Feb 2018 09:29 #11146

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Of course- you are entitled to speculate and assume- but say so and not speak of a "conversion" when that is not known. Anyway- in case that was the case for both- they must have signed each 9,35 Mio shares to get 5,5.
An interesting aspect. :whistle:

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My observations on recent events 05 Feb 2018 10:06 #11148

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fas wrote: Of course- you are entitled to speculate and assume- but say so and not speak of a "conversion" when that is not known. Anyway- in case that was the case for both- they must have signed each 9,35 Mio shares to get 5,5.
An interesting aspect. :whistle:


It's interesting that despite the RO being 77% over-subscribed, I received the full amount of the shares that I subscribed for.

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My observations on recent events 05 Feb 2018 16:45 #11149

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Rodney
I am curious that people like DOV ,who might have sold all his CYTX shares and moved on without further posting here, are common. Yet, there are some others in the same camp keep posting here actively. How do you explain?

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My observations on recent events 05 Feb 2018 18:16 #11150

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franshei wrote: Rodney
I am curious that people like DOV ,who might have sold all his CYTX shares and moved on without further posting here, are common. Yet, there are some others in the same camp keep posting here actively. How do you explain?


That's a question more suited for Fas than me.

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My observations on recent events 06 Feb 2018 08:07 #11154

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To be honest- from RothCo´s posts he must have had some liaison, but I am clueless on who "belonged" to his group. In my view it is pretty irrelevant, since everybody makes his own decisions in matters investing surely.

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My observations on recent events 08 Feb 2018 08:26 #11179

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Taking the lead from a very recent speculation on YMB that there could be suitor for the scleroderma and related indications, let me make up another fairy tale.
If I am Xu, CEO of KOOL, I would go after this segment of CYTX cell therapy (Habeo) for virtually "zero" money - a big give away.
KOOL has recently dropped its lead clinical project Critical Peripheral Ischemia - Too expensive with 400 patients, patient accrual is very slow and complicated (bone marrow stem cells)....This is the same indication ASTM had dropped out in the middle of a phase 3 trial.
Yet, Scleroderma is relatively simple and the cost is very low. FDA is probably working with CYTX with a new phase 3 protocol for diffuse cutanenous scleroderma to start in the second half of 2018. (If FDA would allow a limited indication approval based on STAR, CYTX would not hold off the news.) I told Taigo Girao that regardless what the FDA decision may be, CYTX has to make the whole event positive. If this is the case (the less desirable situation relative to a limited approval), the best solution is to find a "partner or suitor" for this segment of the business.
I think CYTX knows exactly what the FDA's path would be and the potential suitor has also been told. There could be a deal being agreed in principle and it takes time to close the deal.
The deal could probably include marketing and further development for US, EU and selected countries (no Japan, CYTX KK is compoany crown jewel). The suitor (if it is indeed KOOL) may even want the manufacturing rights and plants in Wales - for a new business in China.
In other words, most of CYTX cell therapy business (except Japan, BARDA, selected research supply market, etc) would be sold - this may be a good reason for Rickey (who does not want to be part of the deal) and Naughton (no need for her services as a stem cells expert) to leave.
It is possible that KOOL and CYTX had more discussions in San Francisco, during the JP Morgan Conference. Xu made a corporate presntation and dropped the CPI project, while CYTX could not make the presentation, because the script was about to change drastically.
Note: Money out of China takes time to arrive-government approval is needed (see recent VCEL deal for just $ 5 m from China).

Just my fairy tale for today.

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My observations on recent events 08 Feb 2018 09:43 #11180

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Interesting franshei.
Well first off I felt from day one of the suggestion of the early PMA filing route was due for failure.
Hey, maybe even K T Lim ( another thought I had) wants to play again and would play a role somehow if only for the satisfaction of how his first deal with Cytori ended.

I do have to say though that I could envision how this could actually DROP the PPS of CYTX.
Sure a initial pop possible but little of value left with still plenty of unknows ( this assumes sale of the mentioned areas and not a partnership with a ongoing revenue stream, which would be small anyway ) IMHO they should try to coordinate a Azaya deal at the same time to avoid this.

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My observations on recent events 08 Feb 2018 10:09 #11181

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Franshei, why would Hedrick or Tiago even remotely consider what you are suggesting in the fairy tale - never going to happen imo!

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My observations on recent events 08 Feb 2018 14:34 #11184

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Rodney
My fairy tale is not entirely baseless.
I met Xu before when he was in the lab (very young scientist at the time - when we both worked for Parke Davis/Waner Lambert, now Pfizer). Xu rerurned to China and as BoyALife's head, he is always looking for new ventures. I did mention to Tiago Girao in passing Xu and KOOL. I was surprise that Girao brought up the subject later on for my further comments. I personally think KOOL's technology is far behind CYTX's. Now with CYTX in a desperate financial situation, I believe Xu may have talked with CYTX. Xu would be very stupid not to grab a gold mine. With proper guidance and financial help, CYTX's technology will shine again.

I really do not think too much re ATHX and many others.

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My observations on recent events 08 Feb 2018 14:44 #11185

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franshei wrote: Rodney
My fairy tale is not entirely baseless.
I met Xu before when he was in the lab (very young scientist at the time - when we both worked for Parke Davis/Waner Lambert, now Pfizer). Xu rerurned to China and as BoyALife's head, he is always looking for new ventures. I did mention to Tiago Girao in passing Xu and KOOL. I was surprise that Girao brought up the subject later on for my further comments. I personally think KOOL's technology is far behind CYTX's. Now with CYTX in a desperate financial situation, I believe Xu may have talked with CYTX. Xu would be very stupid not to grab a gold mine. With proper guidance and financial help, CYTX's technology will shine again.

I really do not think too much re ATHX and many others.


Franshei, thanks for the additional info - I now better understand your thinking - no question that KOOL is not even in the same league as CYTX - however, some sort of collaboration could work as long as CYTX does not give up too much in value.

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My observations on recent events 08 Feb 2018 14:53 #11186

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Hedge
VCEL got a FDA rejection in a similar situation in November, 2107 and FDA's official feedback came out within one week after the meeting.
In the case of CYTX, the official feedback has been delayed. Obviously something is ongoing.

If CYTX wants to "spin off" the scleroderma and related indications, the suitor would not accept a limited claim. I have gone through this before- sales and marketing is never happy with limited claims. Limited claims are only good for PRs and stock prices.In the longer run, it is a failure for all fronts.

With rather successful phase 1 and 2 trials (STAR and Sclerodec 1), the suitor would go for a better phase 3 design for broader claims. No suitor would enter a talk unless there is a least good phase 2 results.STARE has good phase 2 data.

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