Good points frwdlook as I was appying post judgment legal rates of interest rather than pre-judgment interest rates. Most likely significantly different. I think 6% for post judgment interest back in 2006 is probably correct.
You're obviously an attorney so what is your area of expertise? Where did you go to law school?
A judgment is an unsecured obligatioin unless the creditor takes action to make it "secured"...(ie, record a judgment lien against real property that may be owned by the debtor, etc). An unsecured debt can be dischaged in full in a bankruptycy proceeding. Since this judgment is not based in fraud or other action
that might not be dischargeable, BK would resolve the problem quite frankly.
Other general unsecured creditors debts could be honored and paid in full by Siga, and business would
probably continue on as usual. Debts of secured creditors could also be affirmed and paid as incurred.
The judgment however could be discharged in full. Once this judgment becomes final and the precise
amount of it is ascertained, it is likely to be well in excess of the entire assets of the company. Therefore,
by definition, Siga would be "insolvent".
No need to appeal the case and try and post a cash bond to do so. Of course, current shareholders would be wiped out as well, so in that respect it might be somewhat problematic to most of you here. But Siga would go on to live again with a clean balance sheet, still lots of cash in the kitty, and a whole new set of enthusistic shareholders!
Drod.... Judges are simply human beings....not robots. This one found that Siga acted in "bad faith" during their negotiations with PIP. "Bad faith" is as close to fraud as contract law can define. Parsons hated Drapkin
and basically called him a liar. He did not like being reversed on what he felt was more than a practical resolution to the issues, and was fair to both parties. He was leaving the bench and had absolutely nothing
to lose reputation wise. He was not going to allow Siga to escape the litigation scot free after finding that
they basically screwed PIP during the negotiation process. No way that was going to happen.
Maybe the SC will find he over stepped his boundries and the law once again. Stay tuned for that in about another 18 to 24 months, if not even longer. The issue is where will this company be in another 2 years regardless. The only thing worth fighting for is the money in the bank now, and what will come in within
the scope of the first BARDA contract in the months ahead. What should happen is the parties sit down
and appoint a third party CPA team to review all transactions re the BARDA contract to date. Then arrive at an agreeable net profit figure to date. Split that figure. Agree to apply the forumula and over sight to the remaining funds that will come in. Split that. And wrap it up.
Sure as heck beats BK frankly.
Minnie....Actually quite a few new ones...TSRX's from CBST; DRTX's....now MDCO's....But that's not the issue really. All of the recent ones simply proved "non inferiority" to what was already out there...Zyvox and
Vancomycin. The latter one is now generic, so a major pricing advantage to Dalba. DRTX needs to hit hard on how much their once per week, primarily outpatient, antibiotic, can save the hospitals. And that's likely alot if they pencil it out and get on board.
We're totally screwed now. Stock is down .02 to $2.47 which means we could literally go to zero any day now. Dang! Should have paid attention to TA!!!!
Hey...at least the rumors brought the stock back to former levels that it was after FDA approval.
Would be a great time to announce a secondary..lol...Beats $12.
DRTX just announced they licensed Dalba to Angelini for 15 mil upfront and some back end incentive payments. License agreement extends to 36 countries in Europe. So if AZN bought DRTX they'd have nothing
to sell to anyone in Europe and the surrounding 36 countries? AZN is headquartered in Europe. Does this rumor make any sense?
mrkgrngr... Been in this stock now for about a year and bought first in the high 3's and didn't sell in the 6's and kept buying all the way back down to here. Have a very large position...at least for me. RNAi technology is very intriguing to me and I also own TKMR large from the 9's and ARWR from the low 10's.
RXII is the crapshoot of all crapshoots. It either works or it doesn't. Nothing really in between. We will know soon enough if the gamble paid off or it's just another nothing pie in the sky small penny stock company.
TA is meaningless when you have a stock like this. It hasn't moved more than a dime either way in a month.
Hanna is a soft basher to the nines of this stock, which is frankly fine with me, but her constant attempts to fear monger novice investors with her outright lies in what she purports to be "TA" analysis has been going on now for many months. Same old analysis too. Always implanted fears that the stock is breaking some technical support level and is going to crash...lol I frankly doubt he/she is either long or short the stock...Just probably wants to get some notice and cause some commotion... Perhaps get some sympathy from folks like you.... But you are of course "right" and I should just look the other way, and put her on ignore. Well said.
Hanna...Your TA is probably the worst I've every read on any Board. You're simply clueless.
Do you realize this stock has closed from $2.46 to $2.60 every trading day since July 10th?
If it "breaks down" and closes below $2.48 that would be a "big negative". If it closes down
.01 tomorrow we're all screwed? Do you define a loss of one cent from the previous day's close "breaking
Seriously...You need to get some help, and I'm not talking TA either.........Bring "avi" back anytime.
At least he knows he's a nut job. You're simply delusional.
In addition to antibiotics and other immune system fighting drugs, but would not say where this
secret serum came from or who makes it? Is it ours or somebody else's?
Their product should be the SOC for serious burn victims worldwide by 2018, but right now it's only approved in Germany and Israel. US approval probably not until 2017 at the earliest. I wouldn't average down until it quits going down. You've owned SODA since $47 so your pain threshold must be pretty strong. I'm holding mine.
What money? They're not hiding it anymore I hate to tell you...Just ain't there. BARDA contract is winding down, and when it's done, this company is hasta la vista...The company has been in a wind down to eventual liquidation phase to for well over two years. No on-going research...no foreign sales...no other products....and
BARDA is coming to a Phase 1 end. Ebola... is a real concern now, and they blew it. Smallpox? Right. You people are on the Titanic and most of you are standing in the buffet line all by yourselves while the ship is listing 40 degrees...LOL!
Minnie.... I just think that the gram positive space is getting pretty crowded. At some level DRTX has to be a buyout just to round out an antibiotic portoflio for a big pharma. $23-$26 I think could be a tad optimistic, but
$18-$20, definitely in the ballpark. I would be more optimistic on a NT buyout if the once per week and done application was already approved. Going back for one more injection on day 8 just isn't convenient but DRTX has already addressed that issue in a timely manner and is on the right track to remedy it.
I also personally like the idea of an oral step down type antibiotic rather than a multiple injection one, but if you're dealing with a one and done injection like DRTX it really doesn't matter does it?
At current levels I like and own CEMP in the gram positive space as it has come way down from its
highs and IMHO is under owned and under followed. May take some time but I like the risk/reward in that name and the areas they are addressing.
TTPH is in the gram negative space so an entirely different ballgame. That's the tough to cure stuff.
Also own AKAO in that same space.