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Affymax, Inc. Message Board

  • godwinpeak godwinpeak May 24, 2013 11:24 AM Flag

    AFFY Royalty Trust Theory = Lipstick on the Bankrupt AFFY Pig

    When faced with the reality that AFFY has (1) terminated all its employees, (2) closed its offices, (3) scheduled the auction of all of its tangible property, (4) has no revenues (5) disclosed liabilities exceed assets, (6) disclosed approx $5M "free" cash as of March 31, (7) disclosed pending securities class actions (8) disclosed pending shareholder derivitave actions (9) disclosed that it anticipates products liability claims to be filed, (10) disclosed that its insurance may be denied or prove inadequate to cover litigaion expenses and liabilities and (11) disclosed that it has hired The Brenner Group, whose primary specialty is guiding technology companies through Chapter 11 reorganization, what is a long pumper to do?

    I'll tell you what the long pumpers do in this situation: (1) deny reality, (2) call the wind down of operations leading toward Chapter 11 reorganization, the transformation of AFFY to a ROYALTY TRUST. Bottom line: AFFY long pumpers put lipstick on the AFFY bankrupt pig as part of Operation AFFY Retail Bagholders.

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