Seems like a regular thing at LAFFY HQ. During the cover of the weekend they dismantle the company piece by piece. Sometimes it is dismissing people, sometimes it is cutting the web site back to virtually nothing besides the Finger.
There is so little left, it's hard to imagine what will be dismantled this coming weekend. I am sure whatever it is, it will be deemed 'Great News' according to the faithful. The faithful say that this is just a smart move because it saves unnecessary costs. LAFFY must be the smartest company around because they save costs on such things as extra pages on their web site. Oh yeah, and also on all the costs of every single employee, even CEO. That is pretty smart. I wonder what smart move they have up their sleeves (or sleeve) this weekend. Let's watch.
I took this as a joke. But it seems like indeed, there is an online auction to sell everything. Pretty amazing to see this happening. This is historic. I have never seen such a rapid and definitive end game in a 'real' company. Still doesn't smell right. My gut tells me that there are skeletons in the PEARL trial closet and they do not want anyone investigating too closely.
Hey GWP, that is not that bad of an idea. I would pay about $25 for an AFFY coffee mug. The company has given me a lot of entertainment but more than that, it is truly 'Text Book' in my opinion of the dangers of biotech stocks being run with the usual disregard for shareholders.
LAFFYQ is not good at stepping up with news or information when they can be held accountable. They are better at sneaking news out during the cover of the weekend. There is so little left for LAFFYQ to dismantle. Still, I suspect they have a trick or two up their sleeves for this weekend. It seems that the lights will literally be turned off within three weeks tops. Next week is auction, so the lights will be on for that. I think besides security, the place must be vacant. Oriwn-san had the last LAFF on everyone. I wonder if it was all planned from the beginning just for a humongous golden parachute and juicy CEO jobs vis-a-vis Amgen.
TGC there is not much left to dismantle. I think the next to go is the cash to be paid to the departing executives. Not only do they get golden parachute termination compensation, but they get even more. It is fun to observe that Orwin and other AFFY former executives who remain directors, or who are elected to the BOD, now become "non-employee" directors who are the "cash compensated directors". As AFFY employees, they weren't paid for BOD directors duties before because some would have characterized it as unseemly for employee-directors to double-dip and be paid twice for their services at shareholders' expense. Now it just doesn't make any difference if the AFFY former officers/directors/emporers are wearing any clothes.
I'm glad Orwin-san is still connected to the company I do not put it past the Insiders to wait for the dust to settle - I estimate at around $0.25 which is $10 million market cap - and wait for tax loss selling to maybe pull out some hedge-fund tricks. I'll be interestesd to see if LAFFYQ disappears completely by year end. If not, I will consider taking a risk on the Insiders re-grouping and working some more sneaky tricks to resurrect LAFFY. My gut tells me there is about 10% chance that this will happen. If they are still around at year end, then maybe 20% chance.
This week we had another RED FLAG when the web site was whittled down to virtually nothing. I gave you guys the RED ALERT as I soon as I sway this but nobody responded to the RED ALERT. If you are not going to react to a RED ALERT then I don't understand anything about how things work around here. Anyway, it was fun to see which part of the business was dismantled this weekend. I will look forward to this coming week and weekend for more action. Thank you.
Each week it seems like it is not possible for LAFFYQ to dismantle much further. But each weekend they dismantle yet further.
What will it be this week? I suspect that the 'Contact' part of the web page may removed. This is because the auction has taken place and LAFFYQ will LITERALLY be shutting all the doors and LITERALLY turning off the lights forever.
Of course, there is always the VERY REAL chance that BK will be announced on any of these weekends. What will happen this weekend? Who knows? Let's watch.