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Kratos Defense & Security Solutions, Inc. Message Board

malp2010 14 posts  |  Last Activity: Apr 18, 2016 6:15 PM Member since: Nov 21, 2000
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  • malp2010 malp2010 Apr 18, 2016 6:15 PM Flag

    Opko Health originated in 1991. Around 1996 it went public and had about 8M shares out. Today, with no splits that I can see, they have about 488M shares out. In the last 5 calendar years their total sales were $754M. In the last 5 calendar years their total losses from continuing operations were ($359M). And that included income tax benefit provisions of $115M. So Opko losses for the last five years were ($474M). It looks like Opko’s main source of income is the printing press, selling their stock and debt.

    Again, it is probably good for the doctors involved and the people working for the company, but investors like us, not so much. For an investor like me, I call it a failure. They make no money. For investors like us, it is a long term failure.

    These biotech companies like Aspen are just long term anchors. It’s like investing in a cement overcoat and lead boots. You are eventually going to get weighted down and sink.

    With Aspen as an anchor for FHCO, FHCO is going nowhere for a long time, if ever. That is just the way biotech companies are, they are all long shots, with only a very few winners. Check the daily 52 week highs and lows. It seems like there is a biotech company every day at a 52 week low.

  • OB said that they looked at around 100 deals and they choose Aspen. That just tells me that those other 100 deals must have been super terrible, really bad, bad beyond belief. Because if Aspen was the best one in their eyes, the others must have stunk worse than the biggest pile of #$%$. I would guess that 2 of the 100 must have been GTx Inc and OPKO Health, 2 of Dr Mitchell Steiner?s other FAILURES. The doctor might do very well, but the retail shareholder takes the big hits in a very bad way.

  • Reply to

    Conference Call - Did You Attend?

    by moneytb Apr 13, 2016 12:09 PM
    malp2010 malp2010 Apr 13, 2016 2:54 PM Flag

    I am basically just a simple guy where like with business deals and women, NO means NO

    The one thing that I will give you though is that the doctor does sound like a great stroker, a good smoke and mirrors guy, a song and dance man. He does sound like someone that can change your mind upfront and then turn you into a drinker years later.

    That's the major problem, when a deal does comes along, there should not be that much doubt in so many people's mind. If it is a good deal, you should know that up front and feel good about it. There should not be that much reservation, that strange feeling in your gut. Plus it never reassures an investor the day the deal is announced the stock tanks on huge volume and has yet to recover after more announcements and a CC.

  • Reply to

    Conference Call - Did You Attend?

    by moneytb Apr 13, 2016 12:09 PM
    malp2010 malp2010 Apr 13, 2016 1:14 PM Flag

    It sounds like you were listening to a different CC call and not the FHCO CC.

    The largest shareholder on the call, Downtown, with 1,200,000 shares, stated that they hated the deal and that they are voting all of their shares as a big NO, as they are totally against the deal.

    Another caller brought up both, GTx, Inc and OPK Health, the startup of Mitchell Steiner, M.D and the company where he was the president and called him a longtime total failure, basically a loser when it comes to creating shareholder value.

    Another caller stated that FHCO gave away way too much and got little in return. He was concerned that Mitchell Steiner, M.D and Harry Fisch, M.D., F.A.C.S who own 85% of Aspen and Aspen is getting 45% of FHCO. That means that they are getting about 38% of FHCO. The caller was concerned on how much they invested in Aspen to get 38% of FHCO, implying that they are getting a great deal with a lot of value for basically nothing invested.

    Other than OB and Mitch, I felt that there was not that much support for the merger.

    What I got from the call from all of the questions that were asked and answered and the comments made, of which I would have asked and commented similar, but the callers took care of my questions and comments, and they even covered more than I would have by myself, is that they hate the deal/merger and that we gave away a lot and got little in return, and that they would prefer that the deal not go thru and that we take a different path like a different deal or sale and bite the bullet on the $2.5M and move on to something better.

    Aspen Mitchell Steiner, M.D and Harry Fisch, M.D win if the deal goes thru and FHCO is left with just 55% of what we had, plus future debt and dilution. Refer to GTx, Inc and OPK Health.

  • GTx, Inc, (GTXI), of which Mitchell Steiner, M.D was a co-founder, started the company in 1997, and then did an IPO in 2004 at $15.00 per share for 6,210,000 shares.

    Today – trading at 62 CENTS with about 142,000,000 shares.

    Today – sales – ZERO

    Major source of revenue – the printing press – SELLING MORE STOCK

    Investing in a biotech is like going to the track and betting a long shot at 75-1

    Investing in Mitchell Steiner, M.D is like going to the track and betting a long shot at 75-1

    I am sure that Mitchell Steiner, M.D will make a good amount of money and do very well, BUT, the retail investor, refer to GTXI

  • GTXI does an IPO in Feb 2004 at $15.00

    Today 58 CENTS - DOWN 96%

    Sales, about 12 years late - ZERO

    Main source of revenue -STOCK

    Shares out about 142M

    FHCO is FINISHED

    Sentiment: Strong Sell

  • Your management team is far superior than ours. Congrats!!! You got us good. You really took us for a ride.

    OB, our main guy, maybe I could have a 45% ownership in FHCO. I am opening up a lemon aid stand. It is in the development stage though. But the soft drink industry is a $50 Billion dollar industry. So because of that fact, just like Aspen Park, APP, I think that I should also get 45% of the company.

  • It has no sales..
    They are just a R&D company
    It always loses money
    They sold stock for $64,000,000 in 2014
    These guys are just going to drain us and run us into the ground, borrow and dilute
    OB and the BOD really screwed the pooch on this one
    My 27,000 shares vote NO

  • If not, how much will you need to raise, what is the timing and how will you finance (debt or equity offering)?

    If not, how much will you need to raise, what is the timing and how will you finance (debt or equity offering)?
    We estimate the total cost of the clinical program for the pipeline portfolio to be approximately $110 million which includes milestone payments over the next 4-5 years. A portion of that will be paid from cash flow generated from sales of FC2, PREBOOST and the sexual health vitamin/supplement for men and women as well as profits from the successful commercialization of drug candidates in our pipeline.

    How do you plan to raise the money? When do you plan to start?
    Our plan is to begin immediately to educate our current shareholders about our new company in connection with the vote by FHC shareholders on this transaction. We will also do extensive investment bank meetings and nondeal roadshows with institutional investors in US and Europe, and participate in health care conferences to build public and institutional support for our new company. We plan to use current resources and capital to initiate our pharmaceutical programs and fund company operations, and by late fall of 2016, we expect that we will have educated a sufficient group of institutional investors to access the public markets for an equity offering. The plan is to file an NDA for Tamsulosin DRS in 2017. We believe the potential revenue generated from Tamsulosin sales by 2018 and growth of FC2 revenues in the private and public sectors may allow us to begin to self-fund our company or raise additional capital with a higher valuation and less dilution to our shareholders.

  • What does APP bring to the transaction?

    a deep pipeline of both late and early stage product candidates focused in oncology and men’s and women’s health that are a combination of 505(b)(2) products (product candidates that have an abbreviated regulatory pathway to NDA filing and approval) as well as new chemical entities that provide an opportunity for high reward; and. a seasoned, first class management team with experience and expertise in pharmaceutical clinical development and commercialization as well as consumer health products.

    APP brings a number of late and early stage drug candidates that address large patient populations. The combined addressable market exceeds $30 billion. We believe the pipeline contains three drug candidates that have the potential to be launched within four years – one each in 2018, 2019 and 2020. APP also has an OTC product PREBOOST that is scheduled for launch in late 2016, and an already formulated sexual health vitamin/supplement for men and women.

    Is there a termination fee and how much?

    While it is the intention of both sides to complete the transaction, if FHC or APP terminate the merger agreement under certain circumstances FHC will be obligated to pay APP a termination fee of $2.5 million.

    Please describe the near-term opportunities: by product, what is the size of the addressable market? How long to commercialization?

    APP brings a number of late and early stage drug candidates that address large patient populations. The combined addressable market exceeds $30 billion. We believe the pipeline contains three drug candidates that have the potential to be launched within four years – one each in 2018, 2019 and 2020. APP also has an OTC product PREBOOST that is scheduled for launch in late 2016, and an already formulated sexual health vitamin/supplement for men and women.

    If not, how much will you need to raise, what is the timing and how will you finance (debt or equity offering)?
    We estimate the total cost of the cl

  • I think that we might have given away 45% of the company to basically a new company. APP was founded in July 2014, with only 1 product that sells on the internet and the rest in develop stages. Probably the reason for the most recent decline in price.

    Looks like OB let us down. I hope that I am wrong, but it looks like he gave away the store.

    Pursuant to the proposed transaction, FHC will be reincorporated in Delaware and will be renamed to reflect its new business focus, and APP will be a wholly owned subsidiary. Current FHC and APP shareholders are expected to own approximately 55% and 45%, respectively, of the outstanding shares of the combined company. The company will be headquartered in Miami, Florida and will maintain offices in Chicago, Illinois and London, England. Mitchell Steiner, M.D. will become the president and chief executive officer and lead an experienced, dedicated management team. The new board of directors will be comprised of nine members with pharmaceutical and financial experience, including O.B. Parrish, Mitchell Steiner M.D., Harry Fisch, M.D., Elgar Peerschke, Georges Makhoul, Lucy Lu, M.D., Mario Eisenberger, M.D., and two additional directors to be named by FHC.

  • Rather than Brazil owing the money, it could be the State of Illinois

  • malp2010 malp2010 Mar 14, 2016 10:01 AM Flag

    Iroquois had previously nominated two new independent nominees to LRAD's Board of Directors (the "Board"). In the Investors Agreement, it was agreed that Iroquois' two nominees, Scott L. Anchin and Daniel H. McCollum, will be appointed to the Board immediately and will be nominated for election at the 2016 Annual Meeting. As part of the agreement, Iroquois will vote all of its shares in favor of the 2016 nominees at the Annual Meeting.

  • The Company also announced that Tom Brown, the Company's President and Chief Executive Officer, is resigning from the Company effective June 30, 2016. The Company's Board of Directors has initiated a replacement search.

    Scott L. Anchin is a restructuring professional with more than 19 years of leadership experience spanning a variety of industries. Until recently, Mr. Anchin worked for Alvarez & Marsal North America, LLC ("A &M"), a global professional services firm specializing in turnaround and interim management and performance improvement. Mr. Anchin started his career in public accounting with Anchin, Block & Anchin LLP, where he audited financial statements for manufacturing, real estate, retail and consumer products companies. Mr. Anchin has a Bachelor of Science in Accounting from the Wharton School of Business at the University of Pennsylvania and an MBA with a concentration in Management from Columbia Business School. He is also a non-active Certified Public Accountant (CPA).

    Daniel H. McCollum is a Managing Director in the Investment Office of Brown University in Providence, RI, a position he has held since 2013. The Investment Office of Brown University is responsible for managing the University's $3+ billion endowment. From 2008 through 2013, Mr. McCollum was a Managing Director at Narragansett Asset Management, LLC. Mr. McCollum has a B.A. in Economics from the University of California at Berkeley and an M.B.A. from the Columbia Business School.

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