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Cardica Inc. Message Board

  • battmann22 battmann22 Nov 18, 2013 4:07 PM Flag

    Proposal 2

    I think this is why we are dropping ??? This got approved at the meeting
    Proposal 2:

    The proposal to amend Cardica’s Amended and Restated Certificate of Incorporation to increase Cardica’s authorized number of shares of Common Stock from 75,000,000 shares to 125,000,000 shares was approved by the following vote:

    Votes 41,701,039 3,515,461 1,038,754 0

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    • None of you are addressing the obvious concern here... it's not a question of if the Microcutter will be commercialized, it's a question of when. Hausen is taking TOO long. Losing the confidence of investors. Set expectations, and at least, meet them. This continues to hang in no-man's land with cash continuing to burn up. More problems get created as mkt cap dips below $50 Mil. Why does he go there, again??

    • andersongordon Nov 18, 2013 6:36 PM Flag

      Step back and look at the discounted value of the company. Once the entire suite of stapler cutters is launched and become the stapler of choice world wide, say 2 million deployments per year (conservative) and with net margins of ~15% of $500 revenue per deployment, that yields $150 million per year for stock holders for 10 years (expected length of patent). With a discount rate of 20% that would mean the Net Present Value is ~$750 million for the company. Even at 125 million shares that comes to $5.00 per share. I have been very conservative in all my assumptions. The real revenue potential is probably twice that used. The patent life including residual after expiration is probably closer to 15 years and the discount rate is probably more like 15%. They will most likely only issue 100 million shares and with all these "expected" assumptions the NPV changes to ~$20 per share. J&J can do the math too. So can other suitors.

      Don't give up you shares for less than the minimum $5.00 @ and if they get their house in order and make it over the next two years, bump it up to $15.00.


    • fish_discover_water_last fish_discover_water_last Nov 18, 2013 5:27 PM Flag

      These types of moves are fairly common for small companies like this. It's no secret that they will need to raise more cash. Most of the time it doesn't mean they are going to use all of the authorized shares, and sometimes they don't use hardly any. Unfortunately there is know way to know which will be the case until it happens. No doubt there will be some dilution of ownership be it through share placement or trough some other infusion of cash. The question is will it be accompanied by an FDA approval or some other announcement that adds value. I just don't see them going away. what they have is too promising. I think this is a buying opportunity. .

      Sentiment: Buy

    • Anyone want to buy the new 50,000,000 shares for a dollar?

      • 1 Reply to battmann22
      • Overwhelming amount for increasing the shares. If CRDC wins FDA approval and needs the money to commercialize a best in class product, then absolutely give them the money to execute their business plan! Do you have any idea what a company like JNJ or Cov would be willing to pay to acquire an entire new autosuture product line with very novel best in class devices at a time when all the current autosuture patents expire? AMC is using guerilla tactics as they can not compete and desperately need to expand their offering or else they will lose to the large companies that bundle many products taking away AMC's simple price by product strategy.

        Sentiment: Buy

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