The Interest expense should be significantly lower since the news release said there was a reduction of the rate by 50% for related parties which was the largest part of the interest expense. Depreciation and Amortization was closer to 70K.
I agree the biggest thing is that the numbers are going in the correct direction and if they can continue and pay off the debt, they will be in good shape.
Mell, I guess my question is are you talking driving value for one day or longer term.
I do not think GOG could run it since it would be an International trial. I do not believe GOG would cover the whole cost but let us say they did. I will leave out the question. How much additional money will OXGN need for the trial since I doubt GOG would cover it all?
GOG sponsoring a phase III will lead to these questions.
How long will the Phase III take?
How would OXGN fund its normal operations?
How would OXGN fund other trials? (Since simply running a Phase III and no other trials would not be what they would do at that point.)
How many fundings and how many shares would they need to sell and at what prices could they sell the shares?
The answers I come up with to those questions, are not pretty!
As I have said I think they need to put the company up for sale to the highest bidder. A good partnership where the other company pays for and runs the trial and gives OXGN a large amount of cash is a reasonable second choice to me.
I suspect you will be selling them back to him. I suspect he will then sell them back to you. The prices eventually will even out. Or at least I assume that is your plan. ;)
I mean who in their right mind spends the day making posts that will create Fear Uncertainty and Doubt, just *before* they are about to sell a large number of shares.
Root let's say they said they were going to give us the plan in two weeks. One of the most important parts of the plan is how they will fund a Phase III. That is very dependent on talks with other people. Until they have finished the talks, they can not give you a plan. They need a plan at the latest, shortly after the FDA approves a SPA, might they have a plan a lot before then, sure. But they certainly were not going to say that publicly.
One possibility is Mr Loar was brought in because he is a tough negotiator. Given Reg FD you would not expect him to give you any additional information, would you?
As I have said we will see in the relative near term whether they are gambling with owner's money or working for the owners.
Dr Schwieterman and I assume the BOD already know how I feel. I sent Dr Schwieterman E-mails explaining how I believe the market views their situation and why they need to sell the company to the highest bidder.
While the vote at the annual meeting sent them a message, the share count has not changed enough to actually force a proxy at this point. We will see whether they are working for the owners/shareholders or have simply changed their message over the relative short term.
Tried to grab a small lot at 1.05 after the opening and did not get any. Finally picked up a couple in the teens. Been deploying my cash for a couple of days, guess I was too soon but I almost always start buying too soon and start selling too soon.
Good post. I suspect some of the downside the last few days has been some of the bigger traders trying to run stops and use market weakness to pick up cheap shares.
Yep the bashers have been right up till now. Of course it is up to the BOD whether they will be right in the future. Let's hope the BOD does the right thing.
Typo, obviously it should have been 12/31/14 since no filing can be made for holdings as of 12/31/15 until after 12/31/15.
I made another typo earlier. I typed 13/31/2014, I know there is only 12 months in a year.
First you need to click on the Sabby link on the intermediate page and go to the Sabby page not the OXGN and look at the Sabby 13F-HR filings. Then you need to look at the 13G/A filed on 1/8/15.
I've explained this more than a few times. I am not sure what you do not understand.
On 1/8/15 they filed a 13G/A stating as of 12/31/14 they had 2,068,481 shares.
On 2/17/15 they filed a 13F-HR saying as of 12/31/15 they had 782,674 shares
One of these 2 has to be incorrect because they both show holdings as of 12/31/14 and the holdings number is different.
They filed another quarterly report, 13F-HR, on 5/15/15 for the period ended 3/31/15 showing 2,024,736 shares. If you assume this is correct, they sold shares from 3/31/15 through 6/30/15 ending with 258K shares.
Given the problem with the 12/31/14 filing I do not assume the 3/31/15 filing is correct, but I also do not assume they had 0 shares.
All of those filings are from the SEC site. I do not need a subscription to see them. Neither does anyone else.
Sabby has to file a 13F-HR for every quarter. They also filed a 13G/A for OXGN on 1/8/15 which covered through 13/31/2014. All that site does is copy and consolidate the SEC filings. Go to the SEC site. Go to the OXGN page, click on the 1/8/15 13G/A filing. Click on the link on the next page to the Sabby filings. Presto no intermediary needed!
I wish I knew how Sabby's holdings changed since 9/30/14. The only info that I believe anyone can get is from the SEC site. All other sites simply summarize that information.
As I have said they have 2 different types of filings for 12/31/14 and their holdings differ. It is possible that someone screwed up and included their warrants in some of the filings but I do not believe there is any way to know.for certain.
This report shows SABBY added 258,000 shares. Do you dispute that, or what?
Per that site FAQ that report is based on 13F filings just as the Nasdaq report is based on 13F filings.
If you go to the SEC web site and look at 13F filings for Sabby, they give a very different picture. The problem is that there are discrepancies between the 13F and the 13G for Sabby for the period ended 12/31/14..
The 13F for Sabby as of 3/31/15 shows Sabby had over 2 Million shares. If you believe that 13F then they sold 1.7M shares. Then comes the question of where they got the 2Million shares since the 13G filing on 1/8/15 of 2Million shares was before the latest offering.
Mano but the 2 other bobsy twins .Did they have the warrant count and which offering s did they buy in?
Equitec bought 1.9M shares in the most recent offering. Equitec got warrants for 959,855 shares, exercise price $1.71
FRIGATE is a little more interesting. They held 123K shares as of 12/31/14. They filed right after the latest offering but their 13G filed on 3/31/15 indicated
Frigate, Admiralty, Mr. Winson, M5V, Mr. Spears and Mr. Kassam are the beneficial owners of 2,266,117 shares of Common Stock held by the Fund, which consists of (i) 1,919,710 shares of Common Stock and (ii) warrants exercisable to purchase 346,407 shares of Common Stock.
Now they almost certainly got most of those shares in the offering. So what happened to the other say 500K warrants? Did they sell them? It is interesting.
Sabby probably made a lot of Money on OXGN already. They were able to take advantage of the original blowup on the news that the Phase II was statistically significant in early March. 2014 They still own some warrants at 3.40 but had over 2.4 shares from warrants at $2.24 which they manage to sell well over $3 and maybe over $4
By the way Buffet and others take advantage of the SEC allowing delay of 13F filings due to a rule.
From an article in the NYT titled
One Secret Buffett Gets to Keep
The rule says that the S.E.C. “may prevent or delay public disclosure of form 13F information for public interest reasons or the protection of investors.
Remember these are Hedge funds. They own a lot of warrants. So they Hedged by selling the shares and keeping the warrants. If Oxigene foolhardily tries to run a Phase III they likely will get more shares in new offerings. If Oxigene does not and partners or sells they make a good amount of money on their warrants.
Sabby's filings are a little strange for 2015.
On 1/8/15 they filed a 13G stating they owned just over 2 Million shares as of 12/31/14
On 2/17/15 they filed a 13F-HR showing they owned 782,674 Shares.as of 12/31/14
On 5/15/15 they filed a 13F-HR, showing as of 3/31/15, they owned just over 2 million shares, almost the same amount as in the 13G as the 1/8/15 filing.
Going back to their filing for 9/30/14 they owned just under 1.2 M shares.
They do own a lot of warrants which would get them to or over the 10% level if counted.
So based on their filings I am not sure what they held at any point this year. Something was incorrect and they certainly did not get shares in an offering in the 4th quarter of 2014 since there was no offering.