The markets are up big. Somebody steps up with 2 big blocks, 1/2 million shares @$.70 and MELA has a hard time holding $.01 gain, close .67cents. Can not break this down draft till management gets proactive and stockholder friendly. Sure hope they are not paying the PR/marketing firm this current group bought on a few months ago. Who/what is advising this group? I vote they bring on mystriker..............................
With an amount of unissued stock equal to the float that they could sell, not merger, no buyout, management could effectively sell 50% of the company to a buyer. The buyer gets an FDA approved device for $25-30m a small fraction of what it cost to develop , get approved, financed, etc etc. They would save the company and their jobs, momentarily, while royally screwing present stockholders. One of many possible scenarios. One can almost sense this unfolding....
Contracts are good and needed. Addressing the issue of doubling the float with no revenue growth, what does that do to the share price? Is there not a small problem regarding a delisting that needs to be addressed? Management needs to address revenues and the delisting now. Insurance reimbursement and the timetable of it is the critical issue that IMO determines if the company has any chance of survival as a stand alone entity, or for that matter a take out candidate. I have been following company for 3 years or so and heard it all before. Dilution and a reverse stock split needed to be done at $3-4 ps.
Proactive management has a chance BUT WE HAVEN'T seen any glimpses at all. All we hear are presentations, conferences,etc. etc...........
I haven't had the time lately to see at the current burn rate when management will need to raise funds, how far out is approval, etc. I lost track after merger and need to catch up. Has anybody done any projections?
I agree but am concerned about the recent equity offering @1.25 that was cancelled and the current one @$.48 that they executed. Could use some transparentcy and info from management. A new contract with some upfront money [ revenues ] would be welcomed.
IMO CGIX only traded over $14, the last secondary offering, for a week or two at most, if that. The volume excluding the secondary was never that large. The people/institutions that bought at the offering would not be selling unless they see something really negative. Perhaps what we are experiencing is knowledgeable traders shorting a small volume/float stock and building a position by shaking out weak players and buying and building a position at reduced prices.
I do not see Pappajohn or other lrg. investors selling at this time and if they do it will not be at a loss. IMO
I posted yesterday that the Dr. should leave the CEO position at TEVA and explained some of my reasons. The CC today reinforced my opinion, he sounded tired not his usual self. TEVA can be run by managers now, Dr. Frost should concentrate on his strenghts which are building and developing companies and products, not the day to day noise that is consuming him presently.IMO
OPKO would be better off. Dr. Frosts expertise is starting and developing companies and products. Wasting his time with a developed and mature company like TEVA is a distraction and waste of his proven talents. I for one would welcome the prospect of him leaving TEVA and devoting his energies to his other concerns, the mess at TEVA will only hurt him with very little possible upside. Possibly devaluing his other concerns in the process. IMO.
his track record does show an inclination to starting and developing startups vs running developed and maturing companies. I would like to see him leave TEVA and concentrate solely on his developing concerns
all that is needed to get the stock price over $14 is for one new fund to take a position. Would not be surprised if one made a move before the end of year or early next year, while stock is trading 10-15% off the last secondary closing price. I'm still surprised that the price and volume remain so low, possibly due to wait and see attitude regarding ramping up of sales dept. expenses vs unknown revenue amounts, for this and next quarter?, possible short hedging?
Interesting how quiet management is for a new public company.
started a position a few weeks ago. Researched the product, my Doctor is aware and will be using. Looking for any info on company, management, etc. Checked out web site. Any opinions/comments, etc
I have been for three years now. no revenues soon = equity offering = stock devaluation. MELA is also in need of getting its pps over $1 ASAP or it faces delisting, why not a reverse split IMO its better than a delisting. As previously stated I believe in the technology, its managements track record and its ability to deliver thats in question, it still seems more reactive than proactive.
and placed 250-300 machines in the top hospitals, cancer centers, institutions,etc. charge a nominal fee for usage and use info for ins.reimbursement. Within 6 months of FDA approval they would have a revenue stream, ins. reimbursement question answered and a new technology on track. Instead we are now how far from the FDA approval and they are still working on a plan? Its so simple. Like I have previously stated a first day MBA Candidate could run this company better then the current and past management teams. Where is the PR Firm the present group hired a few months back? Questions upon Questions and the clock is ticking towards another equity offering. Lets go to another conference What a shame.
My point that you so aptly cut and paste is Lakewood cap. position from weeks back that someone at SA chose to rehash, nothing new.