The record shows that by spring 2006, SIGA was quickly running out of money. See T. Tr. 1396-97 (Konatich); JTX 214 (“If we could have saved the $1.3 million wasted on [former SIGA executives] we could have gone forward on our own.”) (Konatich); JTX 205 (“At this point the terrifying thing is if the deal falls through and we are back to no [money], no CEO and a #$%$ off Donny.”) (Hruby). In fact, SIGA was able to use approximately $600,000 from the Bridge Loan to begin human safety trials in May 2006. JTX 203, 210.
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
Decided: September 22, 2011
* Now look how they handle cash while in Chapter 11.
it's so speculative that it's speculative.
PiPtinians hate soup, I'll eat it anyway if comes with a settlement. Or, is the soup just speculative?
If Siga Avoids this, this, this, this, this and furthermore this risk = fact that Profits have been and are purely Speculative. = No soup for PiPtinians.
Is there a BOD looking out for shareholders?!? That's HYSTERICAL! Andy Stern is on the board! The guy is a fraud on this BOD.
How about this:
Stock-based compensation expense for 2014, 2013 and 2012 was $2.4 million, $2.3 million and $1.8 million, respectively.
They awarded MORE money in stock compensation last year than over the last THREE years!
And you think the BOD is doing their job??!? This company is just a big fraud with sleezebags doing for themselves!!
For the year ended December 31, 2014, the Company incurred approximately $2.1 million in reorganization expenses in connection with the chapter 11 filing. See Note 1 to the financial statements for additional information.
For the year ended December 31, 2014, we incurred a tax provision of $53.5 million on pre-tax net losses of $211.9 million. The tax provision primarily relates to the Company’s conclusion that it could no longer realize its deferred tax assets on a more likely than not basis because of the PharmAthene litigation, the chapter 11 filing and the substantial doubt about the Company's ability to continue as a going concern (see Note 12 to the financial statements).
(Is there a Board of Directors looking out for Siga shareholders?)
* (Patient Protection and Affordable Care Act) may limit profitability. (Obama Care??? Seriously.)
* FDA may withdraw our Fast Track designation. (Bizzaro world talk)
* SIGA has recorded a loss accrual for expectation damages of approximately $187.8 million as of December 31, 2014
* Our ability to fund operations is substantially dependent on cash flows from delivery of Tecovirimat. If we do not achieve positive cash flows, we cannot guarantee that we can sustain or enhance our current level of operations (We've seen your balance sheet, you'll be OK don't dilute your shareholders)
* The possibility of potential substantial loss from PharmAthene litigation, combined with the costs attendant to the administration of the Company’s chapter 11 case, have led our independent registered public accounting firm to express substantial doubt about our ability to continue as a going concern in its report to our financial statements as of and for the year ended December 31, 2014. If we are forced to liquidate or are otherwise unable to continue as a going concern, investors will likely lose all of their investment in our Company.
(How much are you guys spending on litigation, Chap 11 is supposedly very costly. Don't dilute shareholders)
* operating loss carryforwards, or NOLs, of $87.4 million to offset future taxable income (That's a lot of cash don't screw it up)
Drod, I agree with you about management but could you try some reverse psychology now we are starting to move up, volume always precedes price and the 50 DMA is approaching the 200 DMA and you know what they call that...... Golden Pesos cross!!!
Do you know HOW MANY TIMES I've heard wild #$%$ predictions like that over the last 8 years?? Suddenly this time it's going to be different, right? What will be different? The same guys are running/ruining this company. They are the most irresponsible and reckless group of people managing a company I've ever seen.
Now you know....it was being manipulated AGAIN, for the 200th time, but no one seems to learn. This stock truly is magical, it has so many of you in a trance.