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  • vermillion_cliffs vermillion_cliffs Jan 1, 2014 1:47 PM Flag

    Brief History

    I have been an investor here since the stock symbol was GTF. There were really exciting times early on, when Cyto was getting rolling with Autologel. There was lots to research and upbeat progress from management. Then the purchase of Angel was an excellent move, that became instantly accretive to the bottom line. Then there was the exclusive agreement and significant upfront payment from a mystery partner to hold the right to an Autologel partnership. Then there was the purchase of Aldagen and the promise of a three legged stool. A wonderful story that propelled the stock price to over $2.

    Then the mystery partner pulled out of the Autologel negotiations and no explanation was given. Then there was the first BIG LIE - "we have other partners on the line, as we speak". And from that point on there has been nothing but unfulfilled promises, more lawyering in every PR, progressively worse terms in each financial negotiation, and finally, no meaningful communication from management at all.

    Something happened after the Autologel partner pulled out that changed the course of this company. We began to see the very flawed stroke trial protocol. But no heads rolled, no one took any responsibility, and shareholders were told virtually nothing. Obviously, there was no brain trust behind the trial design and no brain trust behind critical funding negotiations. There is no understanding of market dynamics. The company appears to be run by amateurs and lawyers.

    Management has provided no detailed path forward that they can be held accountable for. The plan appears to be to keep this alive for as long as possible with endless financing, and hope for a miracle along the way. Marty has been through BK before. He has no business as a CEO. No one in this company has demonstrated management skills, other that take what was handed on a silver platter and then sell it.

    My resolution - I give up bashing management. You all know the story by now. Happy new years!

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    • Good reflection of what happened in the last couple years and I appreciate your comments. It has been frustrating to be a shareholder for sure. "Would be investors" have such little information to research small companies that trade under a dollar and if they see nothing but negative feedback on management than they may not pull the trigger. I still believe CMXI to be a great speculative story and hope "the management" has something positive to say very soon.

      Sentiment: Hold

      • 1 Reply to jakealej
      • The board in general is very close to the truth. The science behind autologel hasn't changed since it's submission for FDA approval; there were a few million dollars in royalties annually prior to the approval) smith&nephew I think.) than came FDA approval and the indication wasn't as complete as hoped yet the stock climed very swiftly from 1 to about 5. Then the former CFO surprisingly sold a few thousand shares and killed the climb. Then came CMS denial and the dr. Mohan was gone and Marty era began. Scientifically since then not a whole lot to report; smart move to purchase angel. Then the cat and nose game with CMS( Marty not to be blamed as it required political muscle to work with gov). Then the failed partnership: no explanation. Illtimed bonus: slap in the face. Botched ald trials: no explanation and responsibility. Then disastrous couple if rounds of financing. Selling angel for royalties in the low teens. Crazy dilution lingering ...... There is so much stuff to be seen as negative!!! The only way to not be seen that way if there were a good pr( just sort of update) with the few hundred shareholders on file. So it does sound like bashing management :( the only thing is that it's not misrepresentation of the facts. It is the truth. The last round of financing was for about 3 mil so with the present cash burn rate, we should know sooner who the partner is and what the terms are. Marty wished for an upfront payment and royalties . Let's hope the Arthrex story doesn't repeat itself! Listen to vermillion for good analysis; back in the day there was a guy named bomer23 that knew his stuff as well. Company came back from the dead 3 times( not counting BK) so it's a survivor . The interesting part will begin after the RS. It is not coming only if no partner. Happy new year to all

        Sentiment: Hold

    • I think lot of the long timers feel a lot of apprehension due to the delays due to the CMS redoing the reimbursement guidelines. The market is very unforgiving unless good news and company updates aren't forth coming in a timely basis. I am in PATH and they had the same problems and management said they were talking to potential partners, etc., but finally they did sell out after almost a year and investors made a lot of money. Old timers didn't since they were in stock at much higher prices, but in the end they could see a positive return. I think that will happen here. It has not even been a month since the CMS announcement and sales begin today for CMXI with AutoGel, 2014 will be a very good year and bashing the management isn't going to change things. I have traded CMXI as I did Path and have a low base, but 1/2 the amount I did have as I sold half at .66 and then bought some back in the low .40's for the next run up which could be very soon.

      Sentiment: Strong Buy

    • Thank you, a thoughtful reflection coming on New Year's Day. For my part, I think the worm has turned and the future will brighten.

    • a great summation of CMXI. With all that happened, all the failures, Martin gave himself a HUGE raise and bonus. But if you are willing to stop bashing management, I too (after one last letter to SEC) will refrain from using this board from pointing out how the BOD is robbing the shareholders.