A devices company with cutting-edge R & D should take out ETRM and fast track next-gen improvements. If Knudson was Steve Jobs he would be introducing a rotary iPhone for 2016, and claiming with a straight face that it was great! Knudson should have strong armed senior management into buying shares with him, especially that snake Lea.
The only way a RS could possibly work is if ETRM has a plan in place to issue positive news after the RS: Their hope being that a reduced stock float and good news could trigger a short squeeze(highly unlikely).
I sold CYTK the day after they announced a 1 for 6 RS on 6/23/13, with a pre-split closing price of $2.05, and post split of $12.30; today the stock closed at $11.83, a 4% loss in 17 months. CYTK has had fairly good news post split and a recent runup is based on the hope that partner Amgen will buy them.
I WILL NOT reward ETRM management for claiming active partnership discussions and failing to deliver even one dollar of license/partnership income. The destruction of shareholder value has been criminal. Can you believe that they have still not updated their website to show Gladney as CEO?
Because my .3579 share cost is so low, I just want a group to take out ETRM for .70 to 1.00
Inns: There are tens of billions of investment money floating around the world and you ask where do we get $25 million? ETRM made a huge mistake by not partnering right after FDA approval. Maestro's current technology will be outdated in a couple of years so of course ETRM cuts R & D to the bone. A wireless revolution with smartphones talking to and recharging pacemakers and other devices are right around the corner. Where is at least ETRM's partnership with a high tech company?
Lea sure stumbled through his presentation. I believe it was the Canaccord rep who said the "successful financing", without realizing how insane that was. If I am a new salesman at a Lexus dealership and sell five brand new cars at 10K each, does that make me a "successful salesman"? Gladney was so laid back I can't help but wonder if he isn't working a deal behind the scenes. The large stock float is a playpen for shorts. The short squeeze for KBIO is almost entirely driven by a tiny float.
There is a remote chance that an RS could be avoided as it requires a special shareholder meeting which has not yet been scheduled. Also, the artificially low market cap of ETRM makes it a potential takeover target. Remember that ETRM has an FDA approved product and ok'd for sale in nations encompassing one billion people, plus valuable tax losses.
MY friend has Vista on his PC and thus ineligible for FREE Windows 10 upgrade. The sales cretin at Microsoft chat would give no discount. I told him at least give him the 10 percent discount of a parent. Sorry, his daughter's Baptist school is not eligible.
Jeffrey, the MSFT sociopath had the audacity to tell me "Have a good day and thanks for shopping at Microsoft."
Sidebar: Director Catherine Friedman was with Morgan Stanley for 23 years and her old employer established a NEW position in the third quarter of 690,000 shares. Perkins Capital Management, with a NEW 3rd qtr position of 3,740,000 shares, could have been a buyer today
Many uninformed posters complain about a large trade at a higher price being followed by 100-lot trades knocking down the price. The smaller trades are funneled through the market makers while many of the large block trades originate in off-exchange "dark pools" and don't get posted to the NASDAQ board in real time(up to a 15-minute lag). I really think some large block buying will continue tomorrow.
The longer ETRM's stock price stays in the lower depths the greater the possibilities for major buyers to come in and perhaps even make an offer for the company.
He has a lot of institutional contacts and I notice Perkins bought almost 4 million shares last quarter and may be buying more. Of course, there is also short covering today.
Unfortunately, Lea is an old crony of Knudson. I'm hoping against hope that we see some management stock buying from Knudson, Gladney and even snake Lea, who only owns 2750 shares. A buy by Shikora would be especially welcomed at these giveaway prices.
Regenmedprovider: Are you an ETRM plant? The end all be all is the stock price which Knudson has done NOTHING to defend but EVERYTHING to sabotage. Medtronic is progressing nicely on wireless implants and meanwhile ETRM cuts next gen research to the bone.
Vbloc was going to be a tough sell and ETRM never had the resources to promote it. Gladney damn well better become a PR machine.
PR 101: You issue a separate PR about Medicare agreeing to cover Vbloc up to $27,000 per procedure, effective Jan 1. You don't bury it in the 3rd qtr earnings report and give a lame excuse for not having a conference call.
The incomprehensible freefall in the stock price with hardly any rallying smells of illegal manipulation. Knudson should come clean regarding partnership discussions he sabotaged and give back two years of salary and bonuses. In China he would be in a prison cell.
I hope the first PR issued by the new CEO is announcing selling European rights to Vbloc
The three Medstar clinics in MD/DC may lead the charge: they are Kaiser-affiliated and Kaiser normally follows CMS guidelines.
I would not be surprised to see future investigation into insider trading and management malfeasance. The company in concert keeps manipulating the price down. A $1 offering does not fly, let's make it 50 cents. Announce positive 2-year data and Dr Shikora getting a nice award: Investors get excited AH and then ETRM stabs us in the back with a .23 a share convertible.
Knudson misplaced his reply to an analyst at the last presentation by saying "there was a lot of cynicism toward a new product like Maestro." NO! The cynicism is the ever lower desperation financing occurring, despite tens of billions in deal money being thrown at every Tom, #$%$ and Harry, many with NO approved product.
I owned Encysive when they crashed from a high of $7.10 to $.59; did they do a reverse split? No, they hired an investment banker, sent out hundreds of pitch books, signed confidentiality agreements with about a dozen interested parties, which led to four bidders, three unidentified, and the successful one Pfizer. They paid $2.35 a share and PAID IN FULL a $140,000,000 debt, plus advanced ENCY $6 million in emergency financing to keep the doors open.
With my 64,000 shares. It is a fact repeated many times over the last 18 months by Knudson that they were in active discussions with various parties. In fact, when an analyst asked if FDA approval would be a plus for partnership talks Knudson answered in the affirmative. I guarantee you that Knudson could have done deals in the U S, Europe and Asia on modest, but cash infusing terms, plus royalty.
The 16 cent low today beggars reality and I am not going to rubber stamp a further market cap destroying RS.
pharmaaproved: The news today WAS NOT a foregone conclusion. I have never seen the inept financing attempts by ETRM that severely damaged a promising brand. Don't you think doctors are wondering if ETRM will survive? A R/S could have easily been avoided by months ago taking a mediocre partnership with money up front and a low royalty. Knudson, if he had any conscience, should reduce his anuual comp to $1.