If we're actually liquidating the company shouldn't the date for the shareholders meeting be already set? I'm not looking forward to that event, however it just occurred to me that we don't have a date and I was wondering/hoping if there is may be something else going on.
I want to know if TBG knows of any business type that would allow time without much expense to find a buyer.
Sc rew the BOD trying to put this behind them at our expense. I've already submitted a couple questions to th e SEC and I'm still waiting to get a response from Etrade.
Can Affymax be reconfigured to extend the life till the patents can be sold?
How much was it going to cost to keep the NDA alive?
Can the drug be altered maybe leaving out the pegylation process.
What I'd also like to ask but doubt if they'll put up with more than one or two questions is:
Did Affymax ever receive the Feb 22 2013 report from Fresenius? If so, why wasn't it reported to the SEC?
Were the dialysis centers investigated along with the patients?
Were there delays while awaiting dialysis after Omontys administration.
Did anyone go to lunch after administering Omontys only to return to a dead patient unable to complete their dialysis session.
Can we get a report from the FDA.
And as I have been asking all this time how many CKD patients on dialysis have died since Omontys recall.
What was the opinion of the Affymax trainer on hand of the staff at the Fresenius centers where these deaths occurred.
We've been robbed.
Thank you for your thoughts. I am long on this and have put all my RRSP money. if it is not coming back, I am a loser.
You're right, but we know there were no 5% holders prior to these trades.
We also know there were only 3.5 million shares short just prior so it can't all be shorts covering.
As far as shorts covering, I think if its one year that they need for long term tax treatment those who shorted when it hit $2 last year still have a couple months to go. (Recall poor GeedoubleUPee having to cover then short again after he pumped the sht out of this last summer)
What we don't know is whether these trades are creating 5%+ holders. Is this under accumulation buy those with a goal of voting yes to liquidate as the BOD wants?
I think today I will go home to call the phone number provided on affy's website.
I don't see any other way of contacting management or the BOD. Since our new management was hired because of their expertise maybe they can explain why there are no options other than liquidation. I would like to know if there is any way affy could merge with a holding company to continue to look for a new partner and maybe rework the drug. What the cost might be.
I can't believe Delaware law would promote liquidation over merging. That would make Delaware just about as anti shareholder as you could get in this situation. The 10Q does say "generally" not always.
Will it be dissolved? - I'm no expert on this. I can't believe the way things have unfolded. People have died and the only investigator might very well be involved with a coverup.
purchased also means sold. By the way do you think that the company will be dissolved?
And no 13d filings. Does that mean no person or group has accumulated more than $190,000 or 5% of the shares outstanding. I expected grey to drop at least $200,000 in this after his epic effort.
You'd think if they were interested in attracting bids for the company they'd take steps to simplify the process.
Why then have they failed to change what they could. Shame on them. From reading the following every time they released quarterly reports I see a BOD primarily concerned with its own control over the stock to the determent of the shareholders.
From the 10q:
Some provisions of our charter documents and Delaware law may have anti-takeover effects that could discourage an acquisition of us by others, even if an acquisition would be beneficial to our stockholders.
Provisions in our certificate of incorporation and bylaws, as well as provisions of Delaware law, could make it more difficult for a third party to acquire us, even if doing so would benefit our stockholders.
These provisions include:
-authorizing the issuance of “blank check” preferred stock, the terms of which may be established and shares of which may be issued without stockholder approval
-limiting the removal of directors by the stockholders
-prohibiting stockholder action by written consent, thereby requiring all stockholder actions to be taken at a meeting of our stockholders
-eliminating the ability of stockholders to call a special meeting of stockholders
-establishing advance notice requirements for nominations for election to the board of directors or for proposing matters that can be acted upon at stockholder meetings
-our board of directors is classified, consisting of three classes of directors with staggered three-year terms, with each class consisting as nearly as possible of one third of the total number of directors.
In addition, we are subject to Section 203 of the Delaware General Corporation Law, which generally prohibits a Delaware corporation from engaging in any of a broad range of business combinations with an interested stockholder for a period of three years following the date on which the stockholder became an interested stockholder.
Is this the normal outcome for any med with these events for this population?
Could it take 15 months to destroy any and all incriminating documents.
How did they get new positions so quickly after their blundering here.
You have been robbed. We have been robbed. And the public will continue to be robbed without consequences for this charade. Bite back.
I'm afraid its probably too late to catch shorts naked on this one.
Couldn't seem to generate any real interest in a solution to affy's problem, short sellers that is.
Seems shareholders are powerless against the combined force of shorts, exchanges, market makers and a bad BOD.
I like the statement of the obvious. But even that is flawed.
"Shorts don't kill a good company..." should read "Shorts can't kill a good company"
These thieves aren't stupid. I've read the pros on why shorting's a legitimate trading strategy.
It's written by thieves, the guys who have no problem using the word borrow like congress uses the word lobby, word twisting vermin enabled by beauty pageant queens. Both take what they’re not entitled to.
They say they expose fraud. Of course, as soon as they start talking everyone’s exposed to fraud.
At what price did you borrow your buddy's stock.
It's pumping in the eyes of shorts to ask was there human error at Fresenius.
Shorts know the lowest paid folks in healthcare are the most intelligent and dedicated people in the workforce.
One day, while they're lying in their own feces in a nursing home, they may just change that belief.
It's pumping to say Fresenius recommended continued use in their Feb.14th letter.
Shorts know by reading between the lines the drug is doomed.
Shorts understood Fresenius expanded the use just a month earlier to fool Affy investors, not because Fresenius believed it was working as well as other ESAs.
It's pumping to ask whether Takeda's investigation wasn't self serving especially in light of their behavior with Actos.
Maybe Fresnius was a fault for the deaths, and they made it clear to AFFY management early on that they (Fresnius) would be $VERY$ $GREATFULL$ if Omontys and AFFY were to just vanish.
Actually it is the pumping that held this stock up way beyond what it was worth ever since the drug was suspended. It was the drug that failed and not the shorts who killed the drug. Shorts don't kill a good company with a good product. Typically, many companies cause the short attacks by engaging in financing techniques which use convertible debt (called PIPEs) because they are weak and cannot get funding elsewhere. It is the buyers of that kind of debt who then short the heck out of the stock as the lower the price goes, the more shares they get on their converstion OR to lock in a profit by selling at higher prices than the ultimate conversion.
In any event your rant about shorts is naive and directed incorrectly.
criminal is but an understatement on what is going here. And the SEC...well, I have seen things happening in 15 years but I have never seen any SEC. The SEC is a joke. Its no priority to them