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BIOLASE, Inc. Message Board

  • lookingforatenbagger lookingforatenbagger Dec 4, 2012 7:52 PM Flag

    A responce to simonig from yesterday

    Simonig wrote:

    "Pinatelli has said that they will not be needing to raise money going forward and that he will not do a dilutive share offering. He has also guided that they will be cash flow positive this quarter. He has organized the sales staff well and "set the table"for future growth. I look forward to increasing sales over the next several quarters. Pinatelli has aligned his interests with that of the shareholders. He has been exercising options and buying shares off the market at higher prices than today. Check out the insider transactions site at Yahoo!. I think this is a good bet going forward. I'm betting on their success."

    Sadly Freddie hasn't been very reliable in his predictions, but let's not dwell on that. The stock dividend is dilutive, but it is true that it isn't a an offering.

    Biolase has traditionally been "cash flow positive" in the 4th quarter. They may will be this year too, but I think its is doubtful given the fear of the fiscal cliff and looming Obama double dip recession, but that matters little. Biolase is traditionally cash flow NEGATIVE in the other three quarters

    As for Freddie's interest aligning with shareholders, I beg to differ. Freddie staged his palace coup 2 years ago taking over company management because his hand picked CEO tried to sell the company realizing they do not have the resources to service their installed base NOW. This would have cost Freddie dearly, but is the obvious solution.

    Finally, Freddie hasn't bought a single share at any price since mau of 2011.

    Please don't forget Freddie helped bring the company public over a decade ago and since then has hired and fired a half dozen CEOs when they failed attempting to implement his plans.

    Sentiment: Strong Sell

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    • CORRECTION: Freddie did buy 100K shares in March of 2012, exercising options when the stock was trading for about the same price. My mistake.

      Why would he do that though? Why not keep the options if he thought the price was going higher and buy on the open market? I have a guess. I think he wanted the slide the money directly into the company to disguise the negative cash flow.

      Sentiment: Strong Sell

      • 2 Replies to lookingforatenbagger
      • Hi lookingfortenbagger,
        You are correct in that as per Yahoo Pignatelli exercised his options and purchased 100,000 shares at $2.58 on 3/13/2012 and the stock closed on that day at $2.59. I think he did the right thing for the shareholders. It would have been better for him personally to keep the options and buy that amount of shares off the market. What he did was better for the company in that the company got an injection fo $258,000. It shows me that Pignatelli is doing everything possible to increase shareholder value even at some sacrifice to himself. He has aligned his interests with that of the shareholders like me and his actions show this in every respect. I am not in BIOL for a quick "hit and run". I think their technology is first rate, patent protected and second to none. I'm in for the long haul and believe that Federico Pignatelli is the right man for the job. We need to give his newly instituted programs a little time to bear fruit. I think the shareholders will be surprised by the amount progress BIOL will make by the end of next year.

        Best Regards,

        Simon

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