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Affymax, Inc. (AFFY) Message Board

  • godwinpeak godwinpeak Aug 29, 2013 1:18 PM Flag

    My thoughts and sentiments about Maxdad's posts

    Maxdad ,as a former GS JPM biopharma expert and NY Stern School of Business Adjunct Professor of the "highest ethics", consistently emphasizes a self-created integrity to "trust" whatever he says. Early on, he was soundly lambasted as one who knows better when he repeatedly claimed that the risk of buy and holding AFFY stock was NOT SIGNIFICANT. Now once again, while lauding his own integrity, Maxdad purportedly takes the high road and tells everyone:

    "I DO have a HUGE PROBLEM with dissent that is predicated on gross misrepresentations, contorting information in such a way that it looks credible but only at a surface level."

    Could Maxdad himself suffer from that very same huge problem? Here is a Maxdad SA post about AFFY's NOLs that, at least to me, clearly proves he does:

    "But here is a simple pre-tax conversion for scenarios that follow Omontys' return to market:

    1. The $180 million in Milestone Payments is tax free for Affymax as they have a net operating loss tax carry forward of about $560 million...That = $4.50 per Affy share at 40 million shares (but actually about 5% more because there are only 38 million shares outstanding.) But whose counting :-)

    2. The next $380 million in royalty payments is also Tax Free!!! and that amounts to about $9.50 per share tax free."

    Totally false and untrue. Professor Maxdad obviously KNOWS THIS, but nevertheless uses this lie to pump AFFY.

    Here is what AFFY's 10Q says:

    OUR ABILITY TO USE NET OPERATING LOSS CARRYFORWARDS and tax credit carryforwards TO OFFSET FUTURE TAXABLE INCOME WILL BE LIMITED AND MAY BE FURTHER LIMITED in the future DUE TO OWNERSHIP CHANGES THAT HAVE OCCURRED or may occur in the future.

    Decide for yourself as I did. Use Maxdad's own test to determine character. Is Maxdad's post about AFFY's NOLs "a gross misrepresentation, contorting information in such a way that it looks credible but only at a surface level"? I rest my case about Maxdad's posts.

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AFFY
0.13+0.02(+22.18%)Aug 22 3:56 PMEDT

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