% | $
Quotes you view appear here for quick access.

Rexahn Pharmaceuticals, Inc. Message Board

ofir_menkes 5 posts  |  Last Activity: Nov 24, 2015 2:16 PM Member since: Jul 27, 2008
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Reply to

    7 M float 24 M volumn

    by jacktrade175 Nov 24, 2015 2:07 PM
    ofir_menkes ofir_menkes Nov 24, 2015 2:16 PM Flag

    The company does not need money now and the liability is mostly finished. I doubt these are
    shorts, but if they are things will be very interesting. I would not want to be short with 24 M shares
    on a 7M shares company. I doubt it is possible. probably mostly traders in & out.

  • Reply to

    menkes and calmy..

    by starteam003 Oct 12, 2015 3:40 PM
    ofir_menkes ofir_menkes Oct 12, 2015 5:48 PM Flag

    Buying back debt without issuing new debt means the company is reducing debt.
    That is a good thing. I do not know how long the restructuring will take in order to float value.
    I do not think that the management knows as well. they do what they can.

  • Reply to

    Approval of Notes Buyback Programs

    by dubi_calmy Oct 12, 2015 10:59 AM
    ofir_menkes ofir_menkes Oct 12, 2015 1:45 PM Flag

    Indeed, its been cooking for a while now. they have about 140M NIS at the company level and if they close
    on the Chennai sale, that would be anothe 45M (disregarding any repayment of the Indian partner
    advancement from 2008).
    If they could just find a way to get rid of the Tiberius land, that would be great.
    Another interesting thing: last quarter they got a piece of land in Bucharest back from Plaza Centers. the
    name of it is Cina Plaza and it is a small piece of land with a building with a restaurant called Cina. it is
    almost attached to the Hilton Hotel and very close to the Radisson complex that belongs to Elbit.
    Years ago the plan was to build 5000 sqm of exclusive retail area. it would be nice if they could let Radisson
    build it and manage it. it would add value to the complex (future growth).
    Anyway, the parcel was always classified as immaterial on the Plaza books (and with no value as a
    Anyway, the company is on the right track for now (and even Plaza is getting better...).

  • Reply to


    by starteam003 Sep 30, 2015 5:38 PM
    ofir_menkes ofir_menkes Sep 30, 2015 6:19 PM Flag

    Plaza has 4 remaining active properties (in operation with a NOI). one of them was Liberec. this mall
    is not doing very well and its NOI is low (due to stiff competition and some mismanagement).
    One of the reasons the mall was neglected was due to the fact that the loans against it were too high
    to support. my understanding was that Plaza was responsible for the mortgage, but it seems I was
    wrong. cutting the debt against the property could allow Plaza to invest properly in it and develop it and
    would increase the equity.
    Anyway, that is good news.

  • Reply to

    bluestem ..menkes and joster..

    by starteam003 Sep 22, 2015 6:19 PM
    ofir_menkes ofir_menkes Sep 25, 2015 2:13 PM Flag

    Company is not on the verge of BK at all. the Park Inn by Radisson just opened in Bucharest a few
    days ago. with that in place, the hotel complex should be able to generate NOI of 14M Euro.
    The complex has 61M Euro debt and its value could easily exceed the book value of 140M Euro.
    on top of the equity, Elbit loaned the complex 11M Euro for the buyout (98% now belongs to Elbit).
    The PR you are seeing is for the two hedge funds in control, arguing how to manage plaza centers (45%
    owned by Elbit). DK was expecting quick returns and York, who is the largest share holder in Elbit and
    appointed the plaza manager, is not delivering so far good appreciation.
    Lets see if something positive happens here. the asset values here justify a much higher price.

0.4571+0.0061(+1.35%)10:29 AMEST