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  • northshorepicker northshorepicker May 22, 2013 4:43 PM Flag

    If AFFY was going to 0 it would have happened by now, we're almost in JUNE!

    I can't believe people are still shorting AFFY... everyday that passes and no BK annoucement just pushes the probablities of O coming back on the market.

    Sentiment: Strong Buy

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    • I take the opposite viewpoint. I originally predicted AFFY bkcy on June 6, 2013, which later turned into the date of the shareholders annual meeting. The BOD would like to have the shareholders' "advisory vote" on the officers' compensation contracts which were signed and finalized prior to the Omontys recall when the AFFY share price was $18-22 share. These compensation contracts contain generous golden parachute compensation due on the officers' termination of employment. Once the termination compensation paid and the litigations start draining cash, then will be the time of AFFY bankruptcy. In the interim, AFFY's BOD has its fingers crosssed hoping that the FDA and Takeda will reintroduce O back to the market. Unfortunately for AFFY and O, it will not happen in time to save AFFY from Chapter 11 reorganization.

      • 1 Reply to godwinpeak
      • I think you may be wrong about BK filing on June 6th and here's my reasoning why.. AFFY is liquidating there current assets in June, let's say AFFY does file BK, then the BK trustee would view this move as disingenoious and demand that all proceeds from the sale be tied into BK court. So the likely hood of a BK filing in June is almost 0... if BK were the last resort, I think July or August would be better options for AFFY from a legal standpoint. The very fact that AFFY quickly started to pay off there notes shows that the company does believe O will be back on the market... so we shall see my friend who is correct... but I think we can both agree that BK will be the only option if O is not re-introduced to the market place in the next few months or a timeline of re-introduction with hard dates is not established...

        It's a gamble both for both longs and shorts... but you have to admit that the pps has remained quite strong admist all the chaos... the fact that it has remained above $1 for a quite a while shows strong conviction from shareholders... and it appears that there is a lot of support from the MM's to keep this propped up at these levels, as they are also waiting an seeing where this is going...

        Sentiment: Strong Buy

0.100.0000(0.00%)Jun 30 9:30 AMEDT