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Harbor Diversified, Inc. Message Board

  • stpaul64 stpaul64 Aug 3, 2011 6:00 PM Flag

    atomic wedgie

    read the announcement in your local news column.

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    • hERE IS A WRITE-UP ON THE PERSON WHO SIGNED THE AGREEMENT:

      Mr. Richard A. Bartlett serves as the Managing Director and Principal at Resource Holdings Ltd. Mr. Bartlett specializes in legal aspects of mergers, acquisitions and other corporate restructurings. He is also one of the owners and serves as the Principal of Eastshore Aviation, LLC. Mr. Bartlett serves as the Chairman of the Board of Directors of Air Wisconsin Airlines Corp. He has been the Chairman of the Board of Trustees at the American University in Cairo (AUC) since ... November 2010 and it's Trustee since 2003. He has been a Director of Hotelworks.com Inc. since September 1996. Mr. Bartlett has been a Member of the Board of US Airways Group, US Airways Inc., America West Holdings and AWA since September 29, 2005 pursuant to the stockholder agreement with Eastshore. He serves as a Director of US Airways Group Inc. From 1987 to 1993, he was a Member of the Council of Foreign Relations and is a member of the New York State Bar. Mr. Bartlett received received his J.D. from Yale Law School and his B.A. from the Woodrow Wilson School of Public and

    • the deal with China was Apoptone, Triolex, and HE2000.
      I haven't seen a reference in the new material to specific compounds, but looks like you have and it lists virtually all the ones that hrbr's been working on in recent years - those three above plus Neumune, and the two "neutraceutical" ones.

    • Folks, Harbor is gone as we knew it. The investor paid for control of the company (board and voting rights- no one will be able to outvote his 40%). Now he brings in his cash ($5 mil) and takes over control of the company. Essentially he moved his cash from his bank account to Harbor's and is now in complete control of Harbor. He gets to take his company public for the cost of the lawyers and the paperwork. If things aren’t done to place him in control, he gets to take his money back and go play somewhere else – that is the “Put Clause”. It is not Harbor’s right to buy back the preferred shares – it is HIS right to put them back to the company for the remaining cash plus $1.

      I see 3 reasons why Harbor did this deal:
      1. They know nothing is coming from the China deal.
      2. They know nothing will get to them from the China deal before they run out of cash.
      3. They don’t know what might happen with the China deal, but they are tired of the administrative work and want to retire or go back and do science – which is what they did before Hollis-Eden began to fall apart.

      fs

    • P.S. Ma

    • Here's my question: who is the new shareholder? I think a revelation of that person's/entity's name will go a long way toward helping make a bit more sense of the whole thing. I checked the company website but didn't see a PR yet.

      Does anyone have a link to an article? If so, please paste it on the MB so we all have a chance to look at it.

      In general terms, though, it looks like a positive move for HRBR. Why would anyone sink $2 million without having some idea what's going on w/CIPI? Maybe a specific drug agreement is in the offing? I'm wondering if the new investor isn't trying to get ahold of the opportunity to make some money selling Chinese generics.

      Anybody have any thoughts on the new shareholder? TIA.

      CW65

      • 1 Reply to cyberwarrior1965
      • CW,
        this is what I said on June 13:
        "HRBR and CIPI will announce down payment for HRBR as part of the umbrella agreement. The upfront payment will overcome the issue of dilution. I assume we see figures 5 - 15 M. Just enough for 2-3 years and hopefully a successful phase 3 study of Triolex during that"

        I think overall it is a good sign, HRBR won't go out of buisness nor sold itself to the devil. a dulution, yes. but at least we're alive!

    • As I understand it, someone just bought controlling interest in the company for $2.8 mil. To me it looks like they want to roll their business into a public company and this is the cheap and quick way to do it. It also looks like they want the Harbor stuff to continue as a subsidiary. What I don’t understand is the reverse/forward split. Why do a reverse and then forward split of the same ratio? What does that accomplish?

      In the long run, this may turn out well for current stock holders – if the new business is a good and profitable one, it may carry the remnants of HRBR into a profitable future.

      Thoughts?

      fs

 
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