Al's transaction was of ZERO value. He didn't pay a penny. He only cancelled some debt and he could have done that at ANY TIME when the stock was higher if he wanted to continue his pro-shareholder non-dilutive mantra. He had a lot of balls starting the earnings call w/ how much pain he was suffering. At least he knew what was going to happen. At least he was in control. He could strike a partnership tomorrow IF HE WANTED TO COME OFF HIS HIGH HORSE.
If he wanted to do the right thing, especially after his BS misleading statements on 1/12, he'd cancel his transaction w/ the Mann Group, stick to his optimistic statements about a mid-year partnership, LEAD BY EXAMPLE and convert his debt to equity after the partnership. It would be far more dilutive, speak volumes to the market about his conviction in a near-term partnership and double our stock overnight.
human nature is a fickle thing isn't it. Some of us tend to think its all about 'us', whats 'good' for us...
Al made a business decision based on my GUESS, what he saw was his best option to take.
and some are upset because it 'affects' them... Yet until this move, they were invested because this same individuals actions had the potential to make them money..
yep, humans are fickle aren't they especially when focus on their OWN wants and don't get what they want...
yet, note, some of these same individuals are still here, only now carping about the move even tho they are here for the longer term event, which will only happen if the one they are now carping about, pulls it off..
To be honest, not good. But right now it is simply a paper loss. The short term fluctuations are meaningless since my investment horizon is 5+ years. The dilution trimmed the upside but this was always a possibility. Even with the dilution the upside is huge. This could be a 10 bagger from here or a 100 bagger. (One must also realize the another round is also a possibility)
However, I need to say that I have been invested in MNKD for several years at various pricepoints. I did not invest based on any seminar statement but rather based on everything I could read about the science, which is solid.
I now must look forward. Do I get out and then try to jump back in. The risk with this approach is that my timing is lousy and I miss the big move back. Also, Al could elect to sell the company and then the opportunity is lost.
Instead I chose to ride the wave. I rode it up and down. Now I will ride it back up.
Being a realist there is always a chance that this investment goes to zero. I believe this is a remote chance but I am prepared for that outcome.
Al has always been overly enthusiastic in his comments but he is stating what he truly believes.
I do believe that you will be fine in a couple of years or less.