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TOPIC: Changes to Registration Statement of RO

Changes to Registration Statement of RO 09 Jul 2018 07:25 #12027

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First- the expiration date of the offering has been extended from July 13th to the 20th.

Second the conversion price has been kept in the dark- i.e. will be determined at a later date, which should have been done with the other RO´s too (in my view)- the warrant cost will be the lesser of 1,27 or the to be determined conversion price for the Preferred C.

Third- they reduced the offering from 25.000 C´s to 20.000.

Link to document filed: Here
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Changes to Registration Statement of RO 09 Jul 2018 12:03 #12032

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fas wrote: First- the expiration date of the offering has been extended from July 13th to the 20th.

Second the conversion price has been kept in the dark- i.e. will be determined at a later date, which should have been done with the other RO´s too (in my view)- the warrant cost will be the lesser of 1,27 or the to be determined conversion price for the Preferred C.

Third- they reduced the offering from 25.000 C´s to 20.000.

Here


Somehow I missed this post and did not realize that the terms were changed - with regard to the common conversion, the 2.64 has been reduced to 1.45 or possibly lower - it's a fucking disaster imo !!

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Changes to Registration Statement of RO 09 Jul 2018 12:20 #12033

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The conversion price has been eliminated from the filing altogether, which is what the theory on RO´s say- for shareholder financing this is what you normally do and what Cytori fucked up in the past with the other 2 RO´s, since the market will move to whatever conversion price chosen.. The sweeteners are AND SHOULD BE the warrants and one should trust the BOD to select a market conform conversion once the subscription rights have expired.

The thing I forgot and is the most relevant- the attached warrants have increased from 200 per preferred C to 621 at a presently attractive price.

They finally seem to get it right.

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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:

Changes to Registration Statement of RO 09 Jul 2018 14:24 #12034

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rodney.strongg wrote:

fas wrote: First- the expiration date of the offering has been extended from July 13th to the 20th.

Second the conversion price has been kept in the dark- i.e. will be determined at a later date, which should have been done with the other RO´s too (in my view)- the warrant cost will be the lesser of 1,27 or the to be determined conversion price for the Preferred C.


Third- they reduced the offering from 25.000 C´s to 20.000.

Here


Somehow I missed this post and did not realize that the terms were changed - with regard to the common conversion, the 2.64 has been reduced to 1.45 or possibly lower - it's a fucking disaster imo !!


Guess that explains today’s tanking.

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Changes to Registration Statement of RO 09 Jul 2018 15:26 #12036

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fas wrote: The conversion price has been eliminated from the filing altogether, which is what the theory on RO´s say- for shareholder financing this is what you normally do and what Cytori fucked up in the past with the other 2 RO´s, since the market will move to whatever conversion price chosen.. The sweeteners are AND SHOULD BE the warrants and one should trust the BOD to select a market conform conversion once the subscription rights have expired.

The thing I forgot and is the most relevant- the attached warrants have increased from 200 per preferred C to 621 at a presently attractive price.

They finally seem to get it right.



In regard to your first sentence, did you not see the $1.45 conversion price on page 2 of the Prospectus??? Also, seems strange to have a lower warrant price at 1.27 than the 1.45 conversion price - these folks appear to be desperate with apparently nothing "up their sleeves" as we had hoped for - HOPE is running out even for ME!:cry: :cry: :cry:

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Changes to Registration Statement of RO 10 Jul 2018 20:47 #12040

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Is anyone really surprised what's happening ?
So many signs on so many levels.
RS...a ray of light for you ?


I would ask that no matter your position and thinking that people do the math assuming things can go forward on what the outstanding share count will be and if they convert all those warrants what will be left for shareholders post azaya product sales.
1. there will still be debt
2. More money still likely needed from some source ...aka dilution wont be done
3. Azaya still a risk on several levels
4. not to mention stem business still a dud with no longer a monoply on the digestive enzymes

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Changes to Registration Statement of RO 11 Jul 2018 01:52 #12044

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rodney.strongg wrote: In regard to your first sentence, did you not see the $1.45 conversion price on page 2 of the Prospectus??? Also, seems strange to have a lower warrant price at 1.27 than the 1.45 conversion price - these folks appear to be desperate with apparently nothing "up their sleeves" as we had hoped for - HOPE is running out even for ME!:cry: :cry: :cry:


I did not look further than the overall description of the RO. But you are right, the conversion price is described further down, but NOT determined yet, since it says-

Each share of Series C 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 C preferred Stock by a conversion price of the lesser of (a) 1.45 per share and (b) 85% of the lowest daily volume weighted average price for our common stock , as reported at the close of trading by Nasdaq, during the five trading days prior to the expiration of the Rights Offering (including the expiration date), subject to adjustment.

"Subject to adjustment" could mean anything, but also (b) is likely to be lower than 1.45$ :whistle:

We will know soon enough yes- and it does not look very good.

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Changes to Registration Statement of RO 11 Jul 2018 08:59 #12046

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This is turning out to be a complete disaster since the RS. I’m beginning to think they should have taken their lumps and let it fall to the pinks. This has just allowed the shorts to knock down the market cap to a ridiculous sum. Don’t know if BARDA is tied to them remaining on NASDAQ but doing an RS just to remain on NASDAQ is costing us big time.

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Changes to Registration Statement of RO 11 Jul 2018 09:10 #12048

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b7
New short figures out after the close...while it will only show figures to June 30 it should give a clue to some activity. the next report showing to July 15 will be even more interesting since there have been either zero shares avail. for shorting or near zero for about a week now.

Pinks would not have saved them as far as money raising.

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