Well. they surprised me and found a risk player.The inducement was the only way. I just hope he understands technology more than singular devices. He ran and sold a lot of companies so he comes in heads above the present management. He hopefully will run the call.
On Ocrober 20th Enteromedics was granted a very braod patent covering vagal blocking. To me this was a material event but our hapless IR operation said nothing. As a friend read it, anyone wanting to use the vagal nerve blocking method has to come to us. This is the value of this company. Too many out there are looking at VBLOC as the savior. It is the first approved FDA device using electroceutical The recent silence of the company has me thinking we are going to hear something soon.
Pharma Bio..Read the patent. Now I know why Knudson bought all those shares. Good weekend.
First of all I want to wish you all a great Thanksgiving. We do have a lot to be thankful for. For Oooze it is the First Amendment but I do wish him a good holiday also. We disagree but we are all Americans.
Next. I relistened to the CC and I read the proxy. First Knudson Lea and the Board all have useless options. I think Knudson buying 750,000 shares recently said a lot. He knows all his options could be useless. Lea as far as I am concerned should be fired. He was a stammering idiot on the call and has been a disaster as CFO. Brad Hancock should have handled the call.
Gladney sounds able and from what he said I think he knows exacty what we have. His focus is on insurance and he wants 20% of the bariatric market. His open market purchase also said a lot to me as the guy did his due dilligence. The proxy says rhe reverse will be in the range of 1:6 to 1:15. My guess is 1:7 giving us a price of around $1.50 and 30 million shares in float. Gladney expects to have revenue of $300 million within two to three years and I think 20% of the baritric market will make that happen. Obesity is getting worse and if the private payers see how much this can control Type II diabetes and high blood pressure they will be sold.
This is the optimistic opinion but I think Gladney has his game plan and has the players who follow him from investment bankers to corporate entities who has he done business with. Our company has too great a technology not to be worth a great deal.
Have a great Holday folks...I appreciate you all.
Sentiment: Strong Buy
What we know. The company had a terrible financing and sacked the CEO. On his way out of the office he bought 330,000 shares. The CFO has completely wrecked the balance sheet and should be fired also, but we need someone who can sign papers. The Board is in a parlous position as they did not protect the shareholders and allowed Lea and Knudson to mastermind a terrible deal. They are looking for a CEO. Goo luck with that. We have no idea of how many centers or surgeons we have. We have a great device, we have a great patent estate so where do we go? We have capital in Q2 2016.
They mispriced the VBLOC. They used bariatric surgery as the guide. They WILL NEVER sell a lot at $15,000 and surely insurance is going to be hard to get. My thoughts are as follows. No person will take the job no matter how many options we give the person. I believe we are in a process where we sell the international rights to a large device company like Medtronics. We get an upfront payment and a royalty. The big company can make the device a lot cheaper and they will price it between $5000 and $7000. We will have capital into 2017 and a lower price will get the insurance companies in the room. VBLOC is hard to sell in the EU as the price is too high. Get it reasonable and it will sell. If in the U.S, we can get the price under $10,000 for the surgery and implant we will get a lot of traction. With the capital we should get a CEO who knows how to run a business.
We will not do a reverse split. The international deal will be a steal for the partner but we have no choice. We are not going to sell stock at 25 cents. The goal will be 10,000 VBLOC by 2017 which should be reachable. I think it is the best and maybe only alternative. I think the large shareholders are involved and will press the BOD to act. The Board acted in a way to harm shareholders and to me is guilty of malfeasance. That said we are not going to market the device in the rest of the world so why not just sell the rights.
Well, here is my take. This is obviously done by the new guy as Northland is a banker I never heard of. You just took all the options and stock owned by management and the board and crushed it, as you did the folks who bought the last deal. Of course we all got whacked. The new CEO got downsized also. But I think the new investors are his and it was probably the only thing he could do to get the capital he needs. After the smoke clears I see 50 million shares as the float. The 330,000 shares Knudson bought are now divided by 4. I thought the approach would be markedly different but the CEO most likely knew he could not work with a bad balance sheet. I hope Lea is canned as well as the others who are dead weight. This gives Gladney some breathing space. He would not come on board without capital, and it also says he is not prepared to give away the device or the technology. He now can get the price to a reasonable level on the device and get the insurance to look. My guess is the burn is about $3 Million a month and they most likely have $30-35 Million. At least this guy understands the value of a balance sheet.
I know this hurts but I am more optimistic now than I have ever been. I bought stock at 21 cents today and I hope the guy with the 500,000 shares added. The old management destroyed the company and I also fault the board who did not do their jobs. But that is rear view mirror stuff. I feel sorry for Sikora who seem to be working like a dog and will now see his option almost vanish. With a secure capital base I will sleep better.
Allow me...In the clinical trial the non-control group only...there were several who had the implant but did not hook up or follow directions. Some of that group actually gained weight. The new data is taken from the part of the trial that actually did it right and kept the device on for the 12 month period. The FDA trail was so screwed up by them that the company had no choice but to accept or lose it. The FDA had never done a sham device trial before. Now they were able to throw out the non-users and get down to the data that showed how it really turned out.
It shows you the dopes at the FDA are clueless. Hey count the ones actually hooked up against the sham but they make the company count all the bodies. That is why our results at the June meeting were not exceptional. Had we have the present data the stock would have soared.
Our government at work....
Look this Oozee fool keeps posting erroneous stuff..Please keep telling the idiots at Yahoo about him with the abuse reply. He keeps saying this is a $40,000 procedure. It is presently closer to $20,000. The insurance coverage comments are as ludicrous. We have been on the market for 8 months and the first implant was May. Insurers need at least 2 years of data and that is what they are trying to get with the existing implants from the trial. They count too. We had a moron running the ship who knew nothing about capital and the CFO is even worse. The Board is addressing these items. How about we post gemane items. Why SA and bashers are coming to a company our size is beyond me.
First, you can't margin this stock so do not go there. When you get blindsided by bad management you can't hide. They were great clinical guys but had no idea how to manage risk. You write this off like there are no alternatives and you think in such a linear fashion that is almost laughable. And for most of the folks I know who own the stock it is a miniscule part of their holdings. Secondly, you have no idea what is going on at the company so you seem very bitter, You are on ignore for most people but every once in a while I open your message to see if you have anythng to add. And you still have nothing to add. Come back in a year and see, but until then your advice and opinions are totally worthless.
The best thing about VBLOC is that it is not a dramatic huge early weight loss which is devastating to a lot of health issues. Just a matter of time
If you are patient enough you will get your money and much more.....The game is about to begin...in my opinion only...
under the heading schittehead it has your name..please go away...you add nothing to the conversation and we will not discuss your occupation, watching porn and jerking off...go crawl under the rock from which you came...
Hey dipschitte I am here. I made a bad investment in the management which I have admirtted several times. I doubled my position at 14.5 cents and did so because I love the technology. Come back in a year and see where things are. Hope I bought your stock now go FO.
DC..Lea is a clerk...He is the only familiar voice and let me ask you...where in the world would this company get $25 million with what we currently have????? Your Lexus comparison is specious. They have great products on the market for years..but now they are offering huge discounts..first time I have ever seen them and I drive one. Gladney was nice to show up as he was there to meet money folks.
Look..we have people here rooting for us to fail with a device and a science that is great. We only got approval in January and installed the first vBloc in May. They are focusing on getting it reimbursed and that is where they should be. But listen to the call. He wangts 20% of the bariatric market within two years and says we will be a $300 million company. Do the math.
Also as I figure totally diluted there are 300 million shares. 10 for 1 reverse gives us 30 million shares.
Let us start there. We have a new CEO with a lot of due dilligence and a product and a science. The Cannacord guys are idiots. They ask all the wrong questions. We are never taking the vBloc international so why don't we get a partner? What other indications are we looking at for our science?
Oh yes he complimented the Board. They are incompetent and should be removed but let us give him time. He makes headway in sales and reimbursement we will all be fine. He did not take this job not to make money and he jusgt bought 750,000 shares on the open market. Give him time.
Comments like Dr. Pryor's are what is going to give impetus to a major license deal and I can even envision the sale of VBLOC with a large royalty stream. There will be several suitors as the year progresses but the docs kow the device is priced too high and a huge partner with manufacturing will improve the odds. This device has been around for 8 months. The way the lunatic fringe opines you would think this was invented 10 years ago. Ignore the static and lets see what they say in the next few months.
The guy is smart and makes deals. He obviously knows we are capital anemic so I beieve he will address that first. He will get in his own people by Q1. He knows we can't sell the device for $15,000 and he knows we can't sell it internationally. My fervent hope is that he understands our technology is worth more than vBloc. There are millions floating out there for neuro-blocking technology and I hope he can find some for us. I can't fathom why existing management which supposedly had all these government contacts could do nothing. We are NOT AN OBESITY company and if he comes at it from that perspective we are in for quite a ride. If he can structure a deal with a big pharma company on a new indication our stock will rocket.
I can understand Knudson..His options imploded but he loves the science and vBloc. 640,000 shares in the last few months..We appreciate it..But Gladney..he got a load to come on but he put some skin in the game which should tell us a lot about what he thinks, what he knows, and how he values the company. I was a director of a company and always encouraged my fellow directors to buy and the market loved it. Insiders buy and sell for reasons. Pay attention.