Welcome, Guest
Username: Password: Remember me
CYTX Financial performance development
  • Page:
  • 1
  • 2

TOPIC: DOV:WILL CYTX SURVIVE?the truth...

DOV:WILL CYTX SURVIVE?the truth... 31 May 2016 11:15 #7108

  • dis
  • dis's Avatar Topic Author
  • Offline
  • Senior Boarder
  • Senior Boarder
  • Posts: 48
  • Thank you received: 11
hello,

everybody can do some research in all the sec filings (as what i did) but what i found strange about my findings is that some people here still are positive about Cytx and give buy signals when maybe in 2 -3 months cytx could be BK..

the truth about CYTX;..
even with shares at $2.9 in the right offering they will be raising small amount of money that does't do anything for the company in the bigger picture but extend life a few weeks (they are burning around $2m a month with expenses and interest alone)....

some people(DOV) are talking here about the next four years but it’s about the next 30 days and survival:

$ 9.358 million Cash at 3.31
$ 1.267 million payments to Olympus already made in Q2 (according to the 10Q filing with SEC)
.657 million
Interest payment to lenders in Q2 for Q1 interest
$ 7,434 million real cash balance at the end of Q1 – not accounting for any other “deferred or late payments made in early April that should have been paid in March”

The company has been burning around $5.2 million in cash per quarter pretty consistently over the past couple of years – and with no real changes apparent to date, will continue to burn at that level. This equals on average $1.733 m per month.

$ 1,733 million April Burn (not accounting for interest payments on debt)
$ 1,733 million May burn “

$ 3.968 million CURRENT CASH TODAY AT END OF MAY

Loan covenant with Oxford requires a minimum of $5m in cash (10Q) - so they have breached the covenant again with the lenders – who may or may not continue to provide latitude to solve this issue and who may not even be advised of the breach which one would expect to be a condition of the loan…

June will again burn another $ 1.733 million so the company is on track to end Q2 with $2.235 million in cash – far below the $5m requirement from the lenders and a month away from not being able to pay employees or rent…

This by the way does not account for the REAL liabilities of the company – obligations that exceeded $38 million on 3.31 (10Q). The company has nearly $8 million in what is predominately seriously delinquent Accounts Payable. The CRO (contract research org) obligations were more than $4.1 million in March and this is critical for the execution of the trial. On top of that, with nearly half of the clinical trial enrolled in the last 3 – 4 months – this amount is going to be dramatically higher as the company pays for the treatment costs of each patient as an obligation of the trial – so a huge amount of trial costs were incurred in the last few months – likely adding millions more to the growing bill pile.

OK – what’s coming? Are they exercising the ATM? In Q1, very little came in from the ATM – around $600k. But once the 10K was filed, the S3 registration covering the ATM as likely invalidated as the company’s market cap fell below the minimum $75 million requirement which changed the status of the company. This is one reason an S1 filing was required for the current offering. So legally, they should not be selling any more shares under the ATM so we will assume they are not doing this.

In the rights offering – they need to bring in at least $3 million just to be at the loan covenant assuming they don’t pay any of the AP or other debts and just tow the line on expenses. We will see what the right offering will bring in...

So where does this leave the company? A significant reduction in scope and workforce is eminent. A desperate last attempt for an institutional deal is likely but if successful will be a small amount of funding (given 20% rules – they just can’t raise much in one offering). Try to renegotiate with the lenders to waive the $5m loan covenant to allow them access to that cash while they scramble to reorganize the company. [b]File for protection under bk rules to reorganize the company and wipe out as much current debt as possible.
[/b]

Of course there are the wild card possibilities – acquisition, partnership, lottery ticket, Vegas…

In any case, the probability of litigation is off the charts high. Tiago, Marc and Paul Hawran (audit chair) are recklessly and dangerously using intentional deceptive accounting practices to deceive investors and other stakeholders of exactly how bad things really are at Cytori. This is a strong claim but supported by the real facts. In December, it appears that they agreed to pay Olympus $25k to push the payment due from December to January with the only purpose being to show more cash at the end of the year – this was done again in March. They are not paying debtors to show higher cash levels than what they should be at the end of each quarter. I wonder if they are even holding payroll by a few days at the end of each quarter as that could have a $400-500k swing)? They didn’t (and really still haven’t) disclosed the reality around the Lorem Vascular situation and purchase orders which didn’t come through or market approvals which they announced a year ago but no revenue or product purchases – what gives? They announce on the calls in their financial disclosures that their debt is 17m when that is only the loan and the true debt/obligations are closer to $40m which is reported in the SEC reports.

I think they are on the edge of the cliff and the slightest breeze will blow them over. DOV paints a great 4 year picture but misses the critical point that they need to survive to get there and that they need at least $60m to get them through the next two years – and with a $38m market cap where is that funding going to come from?! Hedrick tells shareholders 2015 was the best year in the company’s history (really ?? – the stock is down 90%) and that the company is best positioned ever looking forward (except of course that the company is actually bankrupt and out of cash with debts higher than their market cap).

As always, going to be interesting !

i hope to see some reactions on my homework from DOV-FAS and many others..
gr
The following user(s) said Thank You: rothco619, carl, fatboy

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

DOV:WILL CYTX SURVIVE?the truth... 31 May 2016 11:56 #7109

  • Wall Street Titan
  • Wall Street Titan's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 875
  • Thank you received: 148
Total liabilities are $25,172,000 on 3/31/16 . Where do you get $38MM?

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

DOV:WILL CYTX SURVIVE?the truth... 31 May 2016 12:09 #7110

  • rothco619
  • rothco619's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 467
  • Thank you received: 67
Dis,
If all that you say is true then this message board may in fact have been a cog in the web of deception. Perhaps many claiming to have lost there shirts holding worthless warrants, did in fact make major bucks shorting at the expense of long term investors. This could get ugly and very interesting. If the fraud angle plays out, the rights offering is merely a ploy to feign that they actually care about long term shareholders. I think not as the terms that have been offered in the past to Sabby and other loan sharks were much better then anything in this ridiculous last rites offering. If such is the case that would in fact be criminal and therefore not protected by the corp veil. This could get very ugly. Oh what a tangled web we weave when we practice to deceive. Guess we have to stay tuned to find out by I do not see any justification in participating in the offering. based on the current state of affairs and suspicions surrounding the company.

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

DOV:WILL CYTX SURVIVE?the truth... 31 May 2016 12:17 #7111

  • dis
  • dis's Avatar Topic Author
  • Offline
  • Senior Boarder
  • Senior Boarder
  • Posts: 48
  • Thank you received: 11
Rothco619,

i just also want to clarify that i know FAS already a long ,long time (when cytx was only on german Exchange) and i have no single doubt that FAS is an honest person that want the best for the long term investors.i'm sure he lost also a lot of money here..he is still optimistic about future of Cytx but i see that he also starts to be suspicious about some facts/persons that surround Cytx those last years.

we are all screwed by Cytx management but we all know that technology works and are still hoping on a partnership and a (quick) resignation/remove from top executives at cytx board...

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

DOV:WILL CYTX SURVIVE?the truth... 31 May 2016 12:30 #7112

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3298
  • Thank you received: 1110
Hi Ruben,

Thanks for wanting to play the devils advocate. There is nothing wrong about that. Anyway- I returned from a short break this morning and am dog tired and have heaps of other things to do. DOV is traveling I have read, so you have to do with me. But not today- tomorrow is another day. :yep:

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:

DOV:WILL CYTX SURVIVE?the truth... 31 May 2016 12:57 #7113

  • dis
  • dis's Avatar Topic Author
  • Offline
  • Senior Boarder
  • Senior Boarder
  • Posts: 48
  • Thank you received: 11

Wall Street Titan wrote: Total liabilities are $25,172,000 on 3/31/16 . Where do you get $38MM?


contractual obligations page 20 (Q1 2016 10Q)-you can download this on Cytx's website under the Investor Relations section...

(also today interesting that STEM (Stem Cells Inc) announced that they will shut down the company because they are out of cash – even though they have more than $5m in the bank…)

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 05:47 #7115

  • dis
  • dis's Avatar Topic Author
  • Offline
  • Senior Boarder
  • Senior Boarder
  • Posts: 48
  • Thank you received: 11

fas wrote: Hi Ruben,

Thanks for wanting to play the devils advocate. There is nothing wrong about that. Anyway- I returned from a short break this morning and am dog tired and have heaps of other things to do. DOV is traveling I have read, so you have to do with me. But not today- tomorrow is another day. :yep:


DOV answered a question on YHOO messageboard yesterday so i guess he can also answer here.he has put so much time/energy in in the research of the future of Cytx,i just wonder if he also reads the financial reports about Cytx and what opinion he has about this.

also can't wait to see your remarks on my message..

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 07:51 #7116

  • franshei
  • franshei's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 789
  • Thank you received: 103
Fas,

1. I think Jason Kobert is an useless analyst.

2. STEM.s failure should be known years ago.They would not succeed in the spinal cord injury indication. Even if they are successful now in early clincials, they are still years away from phase 3. GERN was badly burned by this very difficult indication and got out timely. All the STEM projects are still years away from marketing.
KOOL is also in the same boat - they are in an very early clinical for peripheral limb ischemia using stem cells from bone marrow (patients require total anesthesia for stem cells collection). VCEL was badly burned and got out in early phase 3 trials -patient accrual was very, very slow, while there was no money to support the trial.

3. Hedrick and the new CYTX management team are doing the right things here. Scleroderma phase 3 trial is now completed. Cash burn for this indication will now be limited. With new money coming in this right offering, the company can go after another niche indication, while the thermal burn phase 1 is about to start with government support. Japan and EU MAP sales and marketing efforts will help the company to reach breakeven in 2018.

I do not think they will get a partnership for the OA indication. But that is OK. OSIR has done very well with skin ulcer wound products - niche therapeutic area. They has gone along for most of the time in the corporate history.

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 09:53 #7117

  • dis
  • dis's Avatar Topic Author
  • Offline
  • Senior Boarder
  • Senior Boarder
  • Posts: 48
  • Thank you received: 11

franshei wrote: Fas,

1. I think Jason Kobert is an useless analyst.

2. STEM.s failure should be known years ago.They would not succeed in the spinal cord injury indication. Even if they are successful now in early clincials, they are still years away from phase 3. GERN was badly burned by this very difficult indication and got out timely. All the STEM projects are still years away from marketing.
KOOL is also in the same boat - they are in an very early clinical for peripheral limb ischemia using stem cells from bone marrow (patients require total anesthesia for stem cells collection). VCEL was badly burned and got out in early phase 3 trials -patient accrual was very, very slow, while there was no money to support the trial.

3. Hedrick and the new CYTX management team are doing the right things here. Scleroderma phase 3 trial is now completed. Cash burn for this indication will now be limited. With new money coming in this right offering, the company can go after another niche indication, while the thermal burn phase 1 is about to start with government support. Japan and EU MAP sales and marketing efforts will help the company to reach breakeven in 2018.

I do not think they will get a partnership for the OA indication. But that is OK. OSIR has done very well with skin ulcer wound products - niche therapeutic area. They has gone along for most of the time in the corporate history.


Franshei,

????this is a post about financials-no money anymore-strange accounting practices-BK or not?
and you are talking about going after another niche indication???didn't you read my message?what are you talking about??Jason Kobert?
read the sec filings and come back to earth...i hope Cytx will still be listed on a stock exchange in a few months...
The following user(s) said Thank You: fatboy

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 10:12 #7118

  • rothco619
  • rothco619's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 467
  • Thank you received: 67
Dis, seems this board may have gone the way of Yahoo, in dealing in fantasy. The actions regarding R/S ,last Rites offering, repricing of offering, and projections would be comical if it were not so sad and cost so many people so much money. I am not sure of what anyone's intentions are, but the facts are that everyone is underwater and grasping for straws. Next story will be about failed offering or reason why they had to give more shares away to the likes of Sabby and others just like them. the terms of the offering stink compared to what these crooks were offered. Tired of the fairy tales , lies and bull shit. :puke: :KO: :bash: :bang:

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 11:13 #7120

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3298
  • Thank you received: 1110

dis wrote: hello,

everybody can do some research in all the sec filings (as what i did) but what i found strange about my findings is that some people here still are positive about Cytx and give buy signals when maybe in 2 -3 months cytx could be BK..

the truth about CYTX;..
even with shares at $2.9 in the right offering they will be raising small amount of money that does't do anything for the company in the bigger picture but extend life a few weeks (they are burning around $2m a month with expenses and interest alone)....

some people(DOV) are talking here about the next four years but it’s about the next 30 days and survival:

$ 9.358 million Cash at 3.31
$ 1.267 million payments to Olympus already made in Q2 (according to the 10Q filing with SEC)
.657 million
Interest payment to lenders in Q2 for Q1 interest
$ 7,434 million real cash balance at the end of Q1 – not accounting for any other “deferred or late payments made in early April that should have been paid in March”

The company has been burning around $5.2 million in cash per quarter pretty consistently over the past couple of years – and with no real changes apparent to date, will continue to burn at that level. This equals on average $1.733 m per month.

$ 1,733 million April Burn (not accounting for interest payments on debt)
$ 1,733 million May burn “

$ 3.968 million CURRENT CASH TODAY AT END OF MAY

Loan covenant with Oxford requires a minimum of $5m in cash (10Q) - so they have breached the covenant again with the lenders – who may or may not continue to provide latitude to solve this issue and who may not even be advised of the breach which one would expect to be a condition of the loan…

June will again burn another $ 1.733 million so the company is on track to end Q2 with $2.235 million in cash – far below the $5m requirement from the lenders and a month away from not being able to pay employees or rent…


Hi Ruben- this piece so far appears perfectly OK and is straight from the 10Q. So- no denial or argument from my side. This IS the status quo- pretty desperate situation admittedly, but again- this is why they are doing the Rights Offering. A quarter of all bonuses at cytori were paid out at the end of the first quarter so all employees headed by Hedrick and Rickey will surely heavily participate. Good show- pay yourself well and thus, make sure you can take the biggest piece of the pie. :bang:

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:

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 11:23 #7121

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3298
  • Thank you received: 1110

dis wrote:
This by the way does not account for the REAL liabilities of the company – obligations that exceeded $38 million on 3.31 (10Q). The company has nearly $8 million in what is predominately seriously delinquent Accounts Payable. The CRO (contract research org) obligations were more than $4.1 million in March and this is critical for the execution of the trial. On top of that, with nearly half of the clinical trial enrolled in the last 3 – 4 months – this amount is going to be dramatically higher as the company pays for the treatment costs of each patient as an obligation of the trial – so a huge amount of trial costs were incurred in the last few months – likely adding millions more to the growing bill pile.


Ruben- here you go astray. Contractual obligations are totally different than "accounts payable". The CRO "obligation" is likely the BARDA clinic which still has to commence and has been CONTRACTED but is not a cash obligation, just a contractual one for the future.
This is the detail of your 38 MIO:

The following table summarizes our contractual obligations and other commitments at March 31, 2016, and the effect such obligations could have on our
liquidity and cash flow in future periods:
Payments due by period Contractual Obligations Total Less than 1 year 1 – 3 years 3 – 5 years More than 5 years
Long-term obligations $ 18,789,000 $ 1,770,000 $ 14,160,000 $ 2,859,000 $ —
Interest commitment on long-term obligations 3,283,000 1,593,000 1,663,000 27,000 —
Operating lease obligations 3,553,000 2,256,000 1,297,000 — —
Minimum purchase obligation 6,025,000 1,199,000 2,247,000 2,579,000 —
Joint venture purchase obligation 1,267,000 1,267,000 — — —
Clinical research study obligations 5,110,000 4,188,000 922,000 — —
Total $ 38,027,000 $ 12,273,000 $ 20,289,000 $ 5,465,000 $ —

This stuff is just "notes to financials" i.e. off-balance sheet items.

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:

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 11:41 #7122

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3298
  • Thank you received: 1110

dis wrote: OK – what’s coming? Are they exercising the ATM? In Q1, very little came in from the ATM – around $600k. But once the 10K was filed, the S3 registration covering the ATM as likely invalidated as the company’s market cap fell below the minimum $75 million requirement which changed the status of the company. This is one reason an S1 filing was required for the current offering. So legally, they should not be selling any more shares under the ATM so we will assume they are not doing this.

In the rights offering – they need to bring in at least $3 million just to be at the loan covenant assuming they don’t pay any of the AP or other debts and just tow the line on expenses. We will see what the right offering will bring in...

So where does this leave the company? A significant reduction in scope and workforce is eminent. A desperate last attempt for an institutional deal is likely but if successful will be a small amount of funding (given 20% rules – they just can’t raise much in one offering). Try to renegotiate with the lenders to waive the $5m loan covenant to allow them access to that cash while they scramble to reorganize the company. [b]File for protection under bk rules to reorganize the company and wipe out as much current debt as possible.
[/b]

Of course there are the wild card possibilities – acquisition, partnership, lottery ticket, Vegas…

In any case, the probability of litigation is off the charts high. Tiago, Marc and Paul Hawran (audit chair) are recklessly and dangerously using intentional deceptive accounting practices to deceive investors and other stakeholders of exactly how bad things really are at Cytori. This is a strong claim but supported by the real facts. In December, it appears that they agreed to pay Olympus $25k to push the payment due from December to January with the only purpose being to show more cash at the end of the year – this was done again in March. They are not paying debtors to show higher cash levels than what they should be at the end of each quarter. I wonder if they are even holding payroll by a few days at the end of each quarter as that could have a $400-500k swing)? They didn’t (and really still haven’t) disclosed the reality around the Lorem Vascular situation and purchase orders which didn’t come through or market approvals which they announced a year ago but no revenue or product purchases – what gives? They announce on the calls in their financial disclosures that their debt is 17m when that is only the loan and the true debt/obligations are closer to $40m which is reported in the SEC reports.

I think they are on the edge of the cliff and the slightest breeze will blow them over. DOV paints a great 4 year picture but misses the critical point that they need to survive to get there and that they need at least $60m to get them through the next two years – and with a $38m market cap where is that funding going to come from?! Hedrick tells shareholders 2015 was the best year in the company’s history (really ?? – the stock is down 90%) and that the company is best positioned ever looking forward (except of course that the company is actually bankrupt and out of cash with debts higher than their market cap).

As always, going to be interesting !


This is really the subjective part and the big unknown. I agree if the Rights Offering is a failure, the Company is in "dire straights". :grin: Somehow - I do not think they will be be in "dire straights". There are smarter folks than you and me and they will have their way. I strongly believe in the technology and that more financially powerful folks have seen that too including the statements that FRANSHEI made earlier. They will have recognized the accomplishments achieved to date and will participate accordingly.

Like you wrote- it will become interesting- from the 10Q- in case the Rights Offering is NOT successful :whistle:

If sufficient capital is not raised, we will at a minimum need to significantly reduce or curtail our research and development and other operations, and this could negatively affect our ability to achieve corporate goals. Specifically, we have prepared an operating plan that calls for us to reduce operations to focus almost entirely on one US clinical program and the supply of current products to existing or new distribution channels. In addition, as part of this plan, there would be minimal expenditures for ongoing scientific research, product development or clinical research. This impacts research and development headcount, external subcontractor expenditures, capital outlay and general and administrative expenditures related to the supervision of such activities. In parallel, we would significantly reduce administrative staff and salaries consistent with the overall reduction in scope of operations. In aggregate, such reductions could result in eliminations of roles for the majority of the Company’s current staff and the deferral or elimination of all ongoing development projects until such time that cash resources were available from operations or outside sources to re-establish development and growth plans. Management is currently reviewing contractual obligations related to the pre-clinical and clinical commitments along with minimum purchase requirements to include deferral of such commitments as part of this plan. While management is actively pursuing it’s near term financial and strategic alternatives it is also, in parallel, continuing to evaluate the timing of implementation of the alternative operating plan and the initiation of the identified reductions.


Now- would that not be nice? To see Hedrick´s f*cking exorbitant salary reduced? Yes- of course, but that is not in my own best interest, since I just transferred today a - for me- substantial amount of Euros to Interactive Brokers- to participate in the Rights Offering... :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:

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 11:49 #7123

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3298
  • Thank you received: 1110

dis wrote: DOV answered a question on YHOO messageboard yesterday so i guess he can also answer here.he has put so much time/energy in in the research of the future of Cytx,i just wonder if he also reads the financial reports about Cytx and what opinion he has about this.


Ruben- yesterday was a public holiday in the US. DOV was at home at the time, but is travelling now. DOV is a marketing executive and as a former one myself, when you are on business trips there is no time for private affairs. The schedule continues with dinner and other social obligations until its bedtime. Thats life :really:

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:

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 12:32 #7125

  • dis
  • dis's Avatar Topic Author
  • Offline
  • Senior Boarder
  • Senior Boarder
  • Posts: 48
  • Thank you received: 11

fas wrote:

dis wrote:
This by the way does not account for the REAL liabilities of the company – obligations that exceeded $38 million on 3.31 (10Q). The company has nearly $8 million in what is predominately seriously delinquent Accounts Payable. The CRO (contract research org) obligations were more than $4.1 million in March and this is critical for the execution of the trial. On top of that, with nearly half of the clinical trial enrolled in the last 3 – 4 months – this amount is going to be dramatically higher as the company pays for the treatment costs of each patient as an obligation of the trial – so a huge amount of trial costs were incurred in the last few months – likely adding millions more to the growing bill pile.


Ruben- here you go astray. Contractual obligations are totally different than "accounts payable". The CRO "obligation" is likely the BARDA clinic which still has to commence and has been CONTRACTED but is not a cash obligation, just a contractual one for the future.
This is the detail of your 38 MIO:

The following table summarizes our contractual obligations and other commitments at March 31, 2016, and the effect such obligations could have on our
liquidity and cash flow in future periods:
Payments due by period Contractual Obligations Total Less than 1 year 1 – 3 years 3 – 5 years More than 5 years
Long-term obligations $ 18,789,000 $ 1,770,000 $ 14,160,000 $ 2,859,000 $ —
Interest commitment on long-term obligations 3,283,000 1,593,000 1,663,000 27,000 —
Operating lease obligations 3,553,000 2,256,000 1,297,000 — —
Minimum purchase obligation 6,025,000 1,199,000 2,247,000 2,579,000 —
Joint venture purchase obligation 1,267,000 1,267,000 — — —
Clinical research study obligations 5,110,000 4,188,000 922,000 — —
Total $ 38,027,000 $ 12,273,000 $ 20,289,000 $ 5,465,000 $ —

This stuff is just "notes to financials" i.e. off-balance sheet items.


Fas,
the contractual obligations do include some off-balance sheet liabilities – a good question is why? But the near term obligations are liabilities – they are what the company owes based on commitments made by the company. I don’t believe that the CRO liability is necessarily for future work or BARDA, but for work done on the OA and Sclero trials – so this truly is an immediate liability. Some of the forward projected CRO commitments may be for future planned work. Again the company is not clear and transparent about what they actually owe and it’s not clear to shareholders – should be an SEC concern regarding fair and transparent reporting requirements.

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 13:10 #7126

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3298
  • Thank you received: 1110
Sorry Ruben- but this was my daily bread for 30 years- I should know ....and I do. You are wrong. :bye:

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:

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 13:55 #7127

  • fatboy
  • fatboy's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 416
  • Thank you received: 77
Fas wrote

Sorry Ruben- but this was my daily bread for 30 years- I should know ....and I do. You are wrong


Fas,
Excuse me for not being an accountant savant but what are your thoughts on how long Cytori can survive based on their current cash burn and the "luke warm" response to this rights offering?

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 14:50 #7128

  • fas
  • fas's Avatar
  • Offline
  • Moderator
  • Moderator
  • May the fat be with you
  • Posts: 3298
  • Thank you received: 1110

fatboy wrote: Fas wrote

Sorry Ruben- but this was my daily bread for 30 years- I should know ....and I do. You are wrong


Fas,
Excuse me for not being an accountant savant but what are your thoughts on how long Cytori can survive based on their current cash burn and the "luke warm" response to this rights offering?


Fatboy-

The Raccoon Lodge has about 150 members, of which about 10-15 voice their opinion regularly. How many shareholders do you think Cytori has?

I am sure, you do not know and neither do I. As a matter of fact, Cytori does not know, since most shares are held in "street´s name" at brokerage houses. I have picked up an estimate once of 30.000 and regard that estimate still as reasonable. From that perspective- the 10-15 voices here are a distinct minority, who mean nothing. The Rights Offering is a financing vehicle which surely has been called for by long standing shareholders, who will love to take their chance based on the facts as of today, supported by DOV´s and other evidence.

I have no doubt about Cytori´s survival - I rounded up about $5000 out of my own coffers (without taking up debt) to use at least some of my subscription rights to prove my point. :yep:

But as I have written- all under PROTEST since I despise the greedy bastards in charge at Callan Road.

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:

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 21:35 #7130

  • cytxer
  • cytxer's Avatar
  • Offline
  • Platinum Boarder
  • Platinum Boarder
  • Posts: 347
  • Thank you received: 25
Fas Wrote:

I have no doubt about Cytori´s survival - I rounded up about $5000 out of my own coffers (without taking up debt) to use at least some of my subscription rights to prove my point. :yep:


Fas. you should put that money under your mattress for a year or so, you will be buying a lot more shares then.

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

DOV:WILL CYTX SURVIVE?the truth... 01 Jun 2016 22:52 #7131

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

fas wrote:

fatboy wrote: Fas wrote

Sorry Ruben- but this was my daily bread for 30 years- I should know ....and I do. You are wrong


Fas,
Excuse me for not being an accountant savant but what are your thoughts on how long Cytori can survive based on their current cash burn and the "luke warm" response to this rights offering?


Fatboy-

The Raccoon Lodge has about 150 members, of which about 10-15 voice their opinion regularly. How many shareholders do you think Cytori has?

I am sure, you do not know and neither do I. As a matter of fact, Cytori does not know, since most shares are held in "street´s name" at brokerage houses. I have picked up an estimate once of 30.000 and regard that estimate still as reasonable. From that perspective- the 10-15 voices here are a distinct minority, who mean nothing. The Rights Offering is a financing vehicle which surely has been called for by long standing shareholders, who will love to take their chance based on the facts as of today, supported by DOV´s and other evidence.

I have no doubt about Cytori´s survival - I rounded up about $5000 out of my own coffers (without taking up debt) to use at least some of my subscription rights to prove my point. :yep:

But as I have written- all under PROTEST since I despise the greedy bastards in charge at Callan Road.



Cytori has 18,000 shareholders

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

  • Page:
  • 1
  • 2
Time to create page: 0.174 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