I haven't seen anything about a stock split other than the reverse 5/1 split. The company sold 12+million shares @ $4 per. Lets see how quickly the market absorbs the shares and who the big buyers are. Look for Dr. Frost et al to be big buyers IMO.
like this morning and past ones are immediately followed by sell down. What I found interesting is the run ups are usually lots of 1000's and the sell offs are lots of 100's. Haven't checked in in awhile, seems management is content to do and say nothing. Hope they have cut out the PR people cause they sure aren't doing anything.
Management is quickly running out of time regarding listing reg's. They probably decided to reverse split stock and then try to raise funds, my thoughts place timing around late summer, labor day, not sure of time frame. Unless they just collapse it and take the patents private.
Are there any positive near term catalysts on the horizon for this company?
The company does a reverse split to get price above $5 to get listing on NYSE. The outstanding issue is 49+million with a float of 19+million , stock priced at $9.60. The day of listing on NYSE they issue 12+million to market @ $4. per share representing over 60% of existing float. They stated at the time that they wanted listing on NYSE to get exposure to larger institutional investors.
Larger institutional investors tend to have a $5 per share floor on their purchases. Like I said " A strange set of events ".
I don't think sales will increase to any degree til ins. approval. They would be better served giving present inventory to anyone who would use it and work with the insurance companies to create a large data base, get approval faster, create dependency by Derms, hospitals, etc.
They need to promote, get proactive, stop talking and start acting............
Its getting real ugly and dangerous the way they are playing it now.
spots over the last few months' I've been trading around core since secondary offering and love the action CGIX has. With Pappajohn sitting on Board and his money on the table and the current management team in place, I will ride this company for the foreseeable future. Huge upside with upcoming insurance reimbursement 12-24 months, good revenue growth, excellent peer acceptance, ETC. ETC, this could break big faster than some expect, IMO.
On the contrary, it would limit potential new investors to go pink and the cost of avoiding that, reverse split is nothing. I stated that the split does nothing regarding the shareholder value, its merely window dressing if management doesn't get it together. They are going to need to raise money, further dilution, and it will be easier if they are listed. Hence they will announce split then apply for additional funding in the coming quarters, IMO.
They need to get the existing inventory into hands that will use it , get proactive not reactive, another topic for another time.
is shorting a stock prior to a secondary offering, lockout expiration, etc. Most times you can buyback shares at reduced prices. VEEV is no exception. Finance 101. If this gets to low teens fortunes will be made quickly IMO. This is a good company that is presently being played by some very smart, well funded, connected players.
Split was 1/5 anything over $9.70 should mean a gain if I understand the conversion correctly. Any opinions/comments. Will the symbol drop the "D " after a few days as I read somewhere? GLTA
" Doesn't make sense " , Sure it does. Going to pink further limits any potential new investors/speculators. Furthermore it doesn't cost them anything and gives the appearance of doing something.
I understand your position, but, I'm still seeking a catalyst that will move the stock price positively over the next year or so knowing that dilution is on the horizon.
As I said this is one of many outcomes, whats yours ! I have posted many times my position, I believe in product, not management. I have been taken my tax losses for the last two years with my position. I have averaged down over time to just about $1 a share. Do you really think Sabby et al care more about longs, Black Rock, etc. or lining their own pockets? A reverse split has nothing to do with the value of stock, its merely another form of financial engineering. I would not still be here if I didn't agree that with the correct management this thing could be turned around and I could make a few $$$$. I have not seen that yet!
For the other two responders, I would not be starting a position at this time, I thought that would be clear, my post was to solicit thoughts on topic, what are your thoughts when you wake up? For #2 if home for diner I would watch Jeopardy then switch to two and a half men, for a quick laugh.......................... enjoy
Looking @ Sabby and Broadfin deal in Jan and Feb. bought to mind a book I read about Jay Gould et al and how they did business at the turn of the 20th century on Wall st, not much has changed in the 21st. MELA currently has 47+million shares outstanding, Sabby et al controls 28m via warrants and pref. stock conv. etc. numbers, 13.3 and 14.6 respectfully. IMO they presently control the company. The deal gives them 5 years on the warrants. Insurance reimbursement and patents are the present keys to potential financial success. It would appear to me that it would be in their best interest, knowing that insurance reimbursement is 12-24 months away, to drive the price as low as possible and then accumulate prior to announcement. I'm not willing to get into details but you get my drift.
They, Sabby et al , and this fugazy management team that they have in place will play it like a fiddle all the way to the bottom and then cut the deal that is in their best interest. Reverse splits, further dilution, no revenue growth, etc. etc. is the next 12-24 months for present longs. What catalyst is there to aid present shareholders? Why would the present financial and management groups payup when its in their best interest to buyout the company at a lower price therefore lowering their cost basis.
I said awhile back that a present business school candidate would do a better job running the company. Think about it, management has had years to get insurance reimbursement under way, open other avenues of useage, etc etc......I would not be surprised if they take it private @.10 cents a share, a month before announcing ins, reimbursement so they can avoid lawsuits. Of course this is one of many possible outcomes one could foresee, What's yours?
reverse stock split, listing on NYSE, not a slow week at TRANSENTERIX Inc. Setting up to be an interesting year. IMO if FDA approval is in 2014/early 2015 this could be a profitable point to add to a position. Opinions/comments..........
With the current share price sub $17 this could represent a great buying opportunity. CGIX should report good revenue increases and guidance. The CFO replacement should be explained and accepted by the market as a forward looking event and new CFO introduced. Expecting good forward revenue projections and product acceptance.
IMO the latest price action is designed to shake out weak longs while the players continue to accumulate shares on the cheap.
Referring to the lack of action, news, catalyst, etc. regarding MELA resulting in stagnation of the stock price over the last quarter. If the company were to be taken private some might see that as positive, some negative. How would you take it? at what price ? etc.
Thanks for the smile.
As a long for the technology [ now and with further enhancements ] and the good it will bring many I will await your next recital with much anticipation.
Personal attacks, name calling, cmon, stop the noise and discuss business. My point and thank you for supporting it, is that something, positive or negative is finally happening [" something's afoot" ]. Since most of your posts seem to be of the personal nature perhaps you might find greater pleasure on facebook, twitter or a similar sites. Your point regarding getting something vs. possibly nothing or a further reduced price [ exercising underwater options ] is a constructive point for novices, etc. to understand and consider.