What do you do when your shareholders reject your share count increase?
Start with a PR blitz to elevate the price, this allows you and your buddies to exit at a higher price and preps the market for the inevitable dilution.
The first salvo was launched in the form of a ridiculous PR titled, "EPCT Releases New Data . . ." YET the PR doesn't actually contain any data but has a small print byline of "to be presented at . . ."
It's lame and amateurish PR manipulation at its most obvious, and the data is nothing new anyway and won't change anything. They already have approval, prospective partners aren't waiting in the wings to see if there's addt'l LFS before they ink the deal. It's already approved.
They will "backdoor" the share increase at the July 2 meeting, through behind the scenes maneuvers to twist enough arms to gain sufficient votes.
Ladies and Gentlemen, please watch your spelling in here, because the Spelling Nazis are going to catch it, and then they're going to cry about it too, and if they had a choice, they would label you as a horrific self interested manager, and vote on firing you.
"how did you arrive at that conclusion
here it is : 2-Jun-09 11:43 am kentuckyfri... Re: It's a NO!!!!!!!!!
"I missed it, they voted against authorizing more shares?
"more intelligent conversations on the board - who understand - not having a dillution.
OK: then start spelling the word dilution in the right way, its not dillution
"The vote was not about dillution, it was about authorizing additonal shares of stock
And hereafter? cant you count to step 2, thats fooling stockholders
kentuckychicken, i have not your wonderful wisdom to explain people the world, but i can see the goal of the Savage gang deceiving stockholders for their personal enrichment, i also see their little helpers
Not sure on this, but I believe the board agreed a while back to accept shares in Epicept, equal to the amount in value that they would otherwise be paid in cash. I did not research this, but I believe I read that. I'm sure Icahn has done something similar to this at some point in his life. I would much rather they receive shares at this point, then drain operating capital.
I did not miss that shareholders voted against it, how did you arrive at that conclusion. Further, I never stated that I wanted them to dillute, in fact, at some point I said something like, "that would suck," or words to that effect. I do not share the same sentiment towards management as you may have, as I have stated many times, they stuck with Ceplene. It doesn't mean that I'm in favor of everything they do, but I have felt in general, management has ballz and I'm thankful for that. Are you that much of a left winger, that when someone disagrees with you they must have only one brain cell - or is that how you deal with every break in life, if something goes against you, it must be wrong, because you are the almight onminpotent one to be feared, and respected because you are always right.
I lean towards not wanting dillution thank you. I have had more intelligent conversations on the board with people of your persuasion who understand the potential ramifications of not having a dillution. By the way, there's nothing any shareholder can do to prevent another dillution right now, they have over 12 million more shares that they can dillute at will. The vote was not about dillution, it was about authorizing addional shares of stock.
My only fear is that in the absence of additional dillution, it could force a deal that we may not want. I further argue that the incentive is greater for management wealth no to dillute. Now, it could be that they no there's no deal, and they want to pad their incomes, and raise more money. I do not believe that is the issue, and if you believe that is the issue, you should sell Epicept as fast as you can, I would not own the stock if I felt that. If everyone sold their shares, that would send an unmistakable signal. If you continue to hold the stock, and you are right (which you may be), then who's the single brain celled moron? My other fear that without a dillution, they will be forced to issue debt at an incredibly high interest rate, which would hurt the stock more than any dillution. You will recall the deal with Hurcules nearly BK'd Epicept, and ultimately resulted in more shares being dilluted to stay liquid. That, in my opinion is a well thought up argument, that is not being addressed by the angry people on the board calling everyone on here stupid for not agreeing with them, I like to refer to most of you lovingly as cry babies.
I think my gut feeling is that I want a deal, it's been long enough, and I am wondering if maybe there is no deal, that's a natural fear. I continue to accumulate because I like the risk here. I'm glad we the shareholders voted against authorizing additional shares, but if it came down to being pinned against the wall, I would want another dillution before issuing debt. It would be different if we had AAA credit standing.
So, my advice to you, is to sell Epicept, and find a stock where you are comfortable with management, really, it's your own advice. Or, maybe you can purchase some of the debt at a high interest rate. Do what you want - either way, best of luck to you.
Kentuckyfriedchicken mustn’t be embarassed that you share larrshassny fate of a no brainer, you even ”missed that they voted against authorizing more shares?” For you a translation “They” is the stockholder majority. stockholders don’t like you guys who offer hot air crap as wisdom
Is the Berlin annual meeting part of a big conspiracy? And the release concerning that a campaign... to delute.
When your in the corner there is a 50% chance to get from there. Just start and avoid the walls.
hi larshassny .. what about your "barking dogs" and your "have I missed something?"
Yes your single brain cell missed that all stockholders with more than one brain cell voted against their further dilution. Wer'll look forward how bobby savage will try to deceive with his next dumb trick.
No, the Berlin meeting is a good thing, they should be there.
As a high-profile hematology conference it SHOULD have been a ideal venue to roll out FULL commercialization with introduction of a partner for Ceplene.
It's one more missed opportunity in my book.
Mark my words: they WILL increase the shares at the July meeting in Tarrytown, NY.