smitty/solantey burned his bridge with GC and then pouted the last several weeks. Let's see if he's actually in it for the long haul. Just saying!!
Not an expert...just have read enough legal agreements to be dangerous.
Thanks Risk. Look at page 62...at least it comes up as page 62 of 84. That's where you'll find the breakdown of the 90 million shares set aside the LPC purchase agreement. The first four million LPC already purchased. It looks like they have given LPC an additional 6M shares as an initial committment fee of the agreement...so LPC does get a bit of a kicker....and then have earmarked another 3.5M to be issued once purchasing has concluded (closing fee if you will). Then of course the 76.5M is called out as the purchase shares...which means that the $19.6M in additional proceeds is based solely on 76.5M shares.
So I really think this maps out....which means GC and co are using an average buy in of 25.6c pps. Now the caevat is that the agreement language says LPC is on the hook "up to" $20M. Which means that AMBS could excersise these shares at a pps under the .256. Thing is, if I'm GC, I do exactly as you suspected. Be very conservative with my average expected pps to make sure I reap the full $19.6M left...which means he must feel more than reasonably certain the pps will blow through 25.6c...which is also a big win for LPC becasue the max they'll pay for these shares is 25.6c and if you can then immediately sell them much higher....
Wow, what a huge bullish endorsement from management and LPC!!!
By the way, there is a strong correlation between the number of my gramatical and misspellings and the level of excitement I'm expericing.
Check this out, per the 8k...
In connection with the transactions contemplated by the Purchase Agreement, the Company has registered with the U.S. Securities & Exchange Commission the following shares of Common Stock:
(1) 4,000,000 shares of Common Stock that have been issued to the Buyer upon purchase from the Company by the Buyer on the date of the Purchase Agreement (the “ Initial Purchase Shares ”).
(2) 6,000,000 shares of Common Stock that have been issued to the Buyer as an initial commitment fee on the date of the Purchase Agreement (the “ Initial Commitment Shares ”).
(3) 76,500,000 shares of Common Stock to be issued to the Buyer upon purchase from the Company by the Buyer from time to time (the “ Purchase Shares ”).
(4) 3,500,000 shares of Common Stock to be issued to the Buyer upon purchase of Purchase Shares from the Company from time to time as an additional commitment fee (the “ Additional Commitment Shares ”).
Now do the math on the $19.6M in expected proceeds against 76.5M toto be issued to the Buyer upon purchase from the Company by the Buyer from time to time (the “ Purchase Shares ”).
It's 19.6/76.5 = 25.6c PPS!!!! In other words, this appears to be the average pps level that GC expects to execute the purcahse agreement at. Somebody tell me what I've missed here?
Very good news per the 8k: The Company’s authorized capital stock consists of 1,000,000,000 shares of common stock, par value $0.001 (643,210,764of which are issued and outstanding as of March 6, 2014), 250,000 Shares of Series A Convertible Preferred Stock (of which 0 are issued and outstanding as of March 6, 2014), 2,500,000 shares of Series B Convertible Preferred Stock (of which 0 are issued and outstanding as of March 6, 2014), and 750,000 shares of Series C Convertible Preferred Stock (750,000 of which are issued and outstanding as of March 6, 2014) and 1,300 Shares of Series D Convertible Preferred Stock (1,299.3270 of which are issued and outstanding as of March 6, 2014).
AAPL has nearly 900M shares...about 150M more outstanding than we do now and it's a half a trillion dollar company. It's about valuation not the float.
This is the silliest notion I've heard. The value of the company is based on market cap not shares outstanding. The market sees us as a ~$70M company whether we are at 800M or 200M shares oustanding. What you're hoping for is a short squeeze. But you need to then understand that short interest is low not high for AMBS. Solid news about milestones, not fluff PRs is what's needed to move the pps.
I'm surprised you use the same line of attack assuming it will drive people to sell.
Risk, we'll that's where you and I differ. I'm patient and don't just sell on emotion. That said, you don't own the board and frustrated longs have a right to disagree with you - and call out your robo pumping. Like I said, yesterday's news was mixed. The bad is more dilution. The good is GC controls it. The worse is that GC continues to promise milestones and then surprise us with fresh rounds of dilution. There's two sides to this story Risk.
I think GC is out of bullets...thus yesterday's blog instead of hard news. I'm weary of promised milestones, instead of delivery. Risk, I like your enthusiasm but this pumping is getting old.
This is all well and good as long as GC establishes a credible path to do so. Yesterday’s news was mixed. I’m glad GC now has control of dilution, but the fact remains is that more dilution is coming. Shares were ~100M a year ago and now are around 760M with more coming…maybe as high as 900M depending on how much draw down GC takes. Meanwhile, only fluff PRs about progress. The promise of milestones needs to give way to actual announcements that milestones have been achieved. It hasn’t happened. Will it?
Yes, this deal is much better but it's still dilutive. Meanwhile, more carrot and stick as Gerald blogs away about his dreams but is yet to execute on any real milestones. Still holding my shares, but less tightly than before.
What are you talking about risk, I didn't say that? Are you the new Solantey (before he turned to the dark side) around here? Lympro has competition and that means it's NPV is going to be discounted.
Also Lympro could be obsolete by new blood test for AH announced today. Lympro is no longer novel...it's a worry for those of us thinking the NPV of Lympro would amount to something. Today's news just brought down Lympro's NPV substantially.
Zarc's unabashed flipping needs to be disclaimed with his "sudden change" of heart here. Listen to this guy at your own risk.
It's funny jfjf666/Solantey/West Coast guy ignores Jason Napodano when it suits him. Napodano's estimate is 750M shares outstanding which is only about 80M higher than what was thought outstanding six months ago. Assuming no non-dilutive financing and dilution at the current rate, 1B shares wouldn't be hit for 18 months.