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TOPIC: 8K Filing re- Nasdaq Listing

8K Filing re- Nasdaq Listing 27 Feb 2019 12:18 #12634

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My good ol Dell computer -I believe- has been processing its last bytes today, since the processor hardly works any longer and I have been busy installing myself on another PC in our home and selecting and ordering a new one. Thats why I missed the 8k of today, but since everybody else also did that- here it is-

As previously disclosed, on August 28, 2018, Cytori Therapeutics, Inc. (the "Company") received a letter from the staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the Company’s common stock no longer meets a Nasdaq requirement for continued listing on The Nasdaq Capital Market: maintaining a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"). The Company was provided until February 25, 2019 to regain compliance with the continued listing rules.

On February 26, 2019, the Company received a letter from Nasdaq granting the Company an additional compliance period of 180 calendar days, or until August 26, 2019, in which to regain compliance. Nasdaq granted the additional compliance period after the Company continued to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Bid Price Requirement, and it provided notice to Nasdaq of its intent to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary.


Anyway- this was to be expected.

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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:

8K Filing re- Nasdaq Listing 27 Feb 2019 14:15 #12635

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What is to be expected tomorrow or afterwards I do not know- I only know it is ONE MORE DAY until some due date-

to celebrate that - one of my favorites from Youtube, appropriately titled - one more day-

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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:

8K Filing re- Nasdaq Listing 28 Feb 2019 12:18 #12637

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Looks like "one day more" passes without any enlightening news, so it is time for a new 8K tonight...most likely.

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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:

8K Filing re- Nasdaq Listing 28 Feb 2019 12:23 #12638

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  • fas wrote: Looks like "one day more" passes without any enlightening news, so it is time for a new 8K tonight...most likely.

    /

    That will give them another month to hopefully solve the problem other than through the issuance of more shares - not likely, but ???

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    8K Filing re- Nasdaq Listing 01 Mar 2019 04:48 #12639

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    I do not think it gives them any more time, unless another amendment is made...

    The last 8K stated-

    Oxford and the Lenders agreed to extend requirements that the Company achieve one of the following by February 28, 2019

    and we write March 1 now :whistle:

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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:

    8K Filing re- Nasdaq Listing 01 Mar 2019 05:09 #12640

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    fas wrote: I do not think it gives them any more time, unless another amendment is made...

    The last 8K stated-

    Oxford and the Lenders agreed to extend requirements that the Company achieve one of the following by February 28, 2019

    and we write March 1 now :whistle:

    /

    Correct, but my guess is that you will see another amendment most likely after the close today, although I would not be totally surprised if they replicate the delay as they did in amending the 1/31 deadline on 2/13.

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    8K Filing re- Nasdaq Listing 03 Mar 2019 12:26 #12641

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    I find this all rather strange. Friday, March 1, was day 1 after Cytori was NOT in compliance with an agreement which could have material consequences for the "going concern" status of the Company, including loss of IP etc. Still they opted not to report anything, which - by my estimation- means they are in compliance, since one HAS to report non-compliance.

    Either that, or the agreements with Oxford are not worth the paper it was written on, since it was a part of a scheme to mislead shareholders into something presently not known and unclear i.e Rodney is right and Oxford changes its stance based on whatever direction the wind is blowing...

    this is all quite mysterious...

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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:

    8K Filing re- Nasdaq Listing 05 Mar 2019 08:06 #12642

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    Apparently they can extend the agreement towards eternity and all the while Cytori does not have to pay installments on the loan, but only pay the interest.

    Either that or Oxford is rather convinced that something will happen and surely do not have an interest in the collaterals. :grin:

    On March 4, 2019, Cytori Therapeutics, Inc. (the “Company”) entered into an amendment, effective as of February 28, 2019 (the “Amendment”), to its existing Loan and Security Agreement, dated May 29, 2015, as amended (the “Loan Agreement”), with Oxford Finance LLC (“Oxford”), as collateral agent, and the lenders party thereto, including Oxford (the “Lenders”), pursuant to which, among other things, Oxford and the Lenders agreed to extend requirements that the Company achieve one of the following by March 29, 2019: enter into an asset sale agreement with a minimum unrestricted net cash proceeds to the Company of$4.0 million; enter into a binding agreement for the issuance and sale of its equity securities or unsecured convertible subordinated debt which would result in unrestricted gross cash proceeds of not less than $7.5 million; or enter into a merger agreement pursuant to which the obligations under the Loan Agreement would be paid down to a level satisfactory to Oxford and the Lenders.
    The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.


    So Rodney was right and we probably will be able to review everything in the 10K at our leisure. Good!!!:yep:

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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:

    8K Filing re- Nasdaq Listing 05 Mar 2019 08:21 #12643

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    Ironically, Cytori is now in the driver's seat in negotiations with Oxford. Apparently, there is little or no residual value to Cytori's assets or Oxford would have forced them into bankruptcy by now. Meanwhile, CEO continues to take in hefty unwarranted paychecks for achieving absolutely nothing beyond value destruction for decades of work. Sad. The end is near. Who, in their right mind, would participate in another round of purchasing mor Cytori shares?

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    8K Filing re- Nasdaq Listing 05 Mar 2019 23:53 #12644

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    It gets tiring to hear posters complain about cytori should disappear. We all know that money is super short and the management have not this company well. That being said, stability data, perhaps schleroderna data coming in next few months if not sooner. Oxford would not wait as Fas said if something there. Just not clear if positive or neg. The longer this goes on the closer we get
    Now comes the naysayers
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