"classic business play" = another bad business move. If people don't get paid, pretty soon people stop working and then they will have no manpower to find, or pump their oil. Sounds to me like they are a mess.
totally agree, only people that are essential should be kept and probably more than 50% from research will have to go ASAP, but less in areas related to clinical trials. Start the cuts NOW and then let the new CEO finish them and bring in his/her own crew if needed, or just sell it to the highest bidder. $10-12 is not going to happen any time soon, they will need at least some excellent phase II data on one, or more programs to get that amount. They might get someone to speculate on the company at $5-7 now with the pipeline, cash, Bel and NOL's.
Agree, sell that stupid plant that never should have been built/owned. Maybe ACAD will buy it since they have a similar product. I told them to try and arrange a deal to mfg the ACAD product Pima, but as far as I know, nothing was done. Someone make the call!
I once owned a stock IDTI, Integrated Devices that did this. I was so P'd that I fired off some angry messages and sold the stock. If you can't trust management to put the shareholders first, or near the top, it's probably not going to be a good investment, or there may be some better options.
Glad Dingkus mentioned MRD, what's the situation/relationship between with MRD and MEMP? We need costs cut to the bone ASAP!!! We probably also need to start seeing some consolidations/mergers of equals, strong with strong to spread out management costs over more revs. Unless of course they can get some assets in BK at a good price.
Please forward, en mass, to the USPSTF. Excellent info that they should have considered in their "opinion" or suggestion.
yes, but the total comp for several execs (not just the President and the CEO) was over $1. They benefited greatly when oil was high. Now they have to do a good job and turn the ship around.
Rivv- I don't think shareholders get to vote on management lowering the strike price on options and now many companies are giving out RSU's with zero stock price. Typically for options they sacrifice shares numbers for lower price, so they lose shares, but gain in having a lower strike. I don't like any of it. These guys are dollar cost averaging, taking a little every month, so they will have some low priced stock/options and some higher priced options. What they need to do is focus on the business and run it well. Too many execs focus on their personal income. Pay the treasurer/hedger a big bonus, the rest need to earn it.!!!
That's what is sounds like to me. They want out fast, so they hire an attorney, or get one to "look into something".
Looks like the gravy train of free stock is running out and management wants more free stuff. Their compensation needs to be adjusted to the new reality, it's way out of touch with lower prices. The only person that deserves a big bonus IMO is the Treasurer who did an excellent job hedging. I will vote against increasing the share amount unless there's a big cut in compensation and some right sizing/cost cutting.
any serious offer should have been brought to the BOD for review and disclosed to shareholders. We will have to wait to see how this unfolds. There are many possible reasons Jack was fired and BO is just one.
That's a reasonable strategy (wait for filing to show management bought). clynedog, don't ask me, I've been averaging down since $7+ and need a double just to break even. Price seems to be bottoming. I bought earlier in the year the first time oil went into the $40's and BBEP just kept going lower, it never bounced when oil went up.
I wish I would have known this in the morning, might have added. Removal from a Biotech ETF is a big positive for EXAS.
my guess of $5-8 aligns well with your numbers based on my assumptions of $60-70 at some point next year. Very nice analysis, thanks!
next cc will be interesting. I'm hoping they had a strong quarter and are able to either not cut, or if they cut they must say they are using the cash to retire debt or buy preferred at a big discount, or buy back stock (less likely).
$5-$8 depending on when and how quickly and if they are able to hedge some of the out years (cantango or the opposite). I think BBEP is fairly well headed for next year, but hedged diminish after 2016 (I think).
first they need to cut staff by about half and all other costs not related to developing the pipeline!!!
in this business someone always leaks info, crooks always have an edge. That's why T/A works better than fundamental analysis.